France is broke and need to cut something like 130b from it's budget annually by 2030.
If they don't, bond yields will skyrocket making their fiscal pain even more pronounced. They need to raise taxes, cut retiree benefits and raise the retirement age.
Either France does it on their own terms or the bond market will do it for them.
Their social benefits have been much too rich for too long for an economy that isn't growing. It sucks for young people but the math is the math.
France needs a president that will explain that to the French people as most are not experts in bond yields and budget deficits relative to GDP. The last few presidents have tried and the people have responded by rioting.
Basically. France is in late atage socialism where they ran out of other people's money to spend.
The problem is made worse by importing a ton of people who put even more strain on a social safety net that they never paid into.
🤷♂️
I was just there this summer. It's pretty meh. A lot of the city is run down. The locals are either really poor or really rich. There's no middle class. And if I wasn't a tall dude built like a linebacker and had the mind of a carnie, there probably were a few parts of the city that would not have been safe to visit
Aubervilliers Isnt Paris at all. Thats like saying you were going to Santa Monica and stayed in Compton but worse. Who told you to get an AirBnb there?
What exactly am I excluding here? Compton Isnt Santa Monica. And Aubervilliers is not Paris. They are literally different cities. Paris proper is literally anything that has Paris as its address. So one of the 20 arrondissements. And Aubervilliers is it’s own city. Not in Paris. Even most people who actually live in Paris have never set foot.
What exactly were you checking out in those parts of Paris? Yes and there parts of any big city in the world that arent great. I love New York for example but I’m not going to pretend its Disneyland. Same with Chicago, San Francisco, and any metropolitan city in the U.S.
lol you kind of stayed in the shit area and then wandered around the even shittier areas near by … duh, it’s the bad part of town, like any city anywhere. I live in Los Angeles, you better believe there are neighborhoods that your white ass is getting mugged regardless of how big you are if you’re wandering around the streets at night.
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u/us1549 9h ago edited 7h ago
France is broke and need to cut something like 130b from it's budget annually by 2030.
If they don't, bond yields will skyrocket making their fiscal pain even more pronounced. They need to raise taxes, cut retiree benefits and raise the retirement age.
Either France does it on their own terms or the bond market will do it for them.
Their social benefits have been much too rich for too long for an economy that isn't growing. It sucks for young people but the math is the math.
France needs a president that will explain that to the French people as most are not experts in bond yields and budget deficits relative to GDP. The last few presidents have tried and the people have responded by rioting.
Great explanation of France's fiscal crisis
https://youtu.be/Uje_KSCzJJc?si=rUPmEbJjsPG-TMXu