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> France pension system isn't close to bankruptcy. Citation required. Last I looked, France's national debt as a percent of its GDP wasn't exactly in happy te
by ur-whale 4y ago
> France pension system isn't close to bankruptcy.
Citation required.
Last I looked, France's national debt as a percent of its GDP wasn't exactly in happy territory.
On the other hand, if you believe that France will continue to be able to borrow for eternity to feed its increasingly large retiree population, then yes you are correct: when a banker is always ready to lend you money however large your existing debt, you can never physically go bankrupt.
- yodsanklai 4y agoI can't find citation in English https://www.retraite.com/dossier-retraite/le-deficit-du-systeme-de-retraite-francais.html https://www.retraite.com/dossier-retraite/le-deficit-du-syst... Roughly 20 billion euro per year, which isn't big. For comparison, public debt is 3000 billion. Bernard Arnault net worth is 120 billion (6 times more than 10 years ago), Total profit in 2022 is 40 billions. There must be ways to have better wealth redistribution.
- bsaul 4y agoThe reason bernard arnault is rich is partly because of tax cuts, but mostly because the luxury industry sells well internationally. The reason french people in general are poor is because france, as a country, is collapsing, because french people have been voting for the wrong people for the last 50 years. People that managed to sell their skills to other countries are less affected.