I agree with much of this except I think it’s hard to deduce that the French have chosen Melenchon’s LFI to lead them.

Three points: 1. The new parliament is roughly divided into thirds between the far left, the far right, and the center. No one group as a majority, and the leftist group is a very heterodox coalition that is not really controlled by Melenchon. I would expect there to be an attempt to woo the more moderate Socialist group away from the New Popular Front to form a government with the centrists and the moderate right. Who knows if it will be possible? But there aren’t enough votes on the left to form a government without some centrists.

2. Macron, who you deprecate as past his sell-by date, has greatly strengthened France’s economy, reducing unemployment to record lows, making needed entitlement cuts, and making France one of Europe’s most business-friendly countries. Both the far left and far right want to reverse all this with populist budget-breaking proposals. The only good thing about this election is that neither will be easily empowered to dismantle his achievements.

3. The wildly impractical economic plans of the left, and only slightly less ridiculous program of the far right, are probably not possible. Both want to create huge new spending projects using essentially borrowed money. But France’s debt is already high. Macron has just been able to keep bond rates feasible, but lenders are unlikely to provide the funds for someone like Melenchon’s absurd agenda. Rates would go sky high and make it impossible, and confiscating large amounts from the wealthy and middle classes would not be sufficient. In short, the LFI agenda is a pipe dream that won’t happen.