France today, and who knows who’s next:
• The French state has been bankrupt since 2004. A minister finally admitted it in 2013.
• French GDP hasn’t risen above 2% in 50 years. Yes – FIFTY. The average annual GDP growth rate between 1949-2018? 0.78%.
• In 2018, 14% of the population in France live below the poverty line (they earn less than 60% of the median income).
• Worse, more than 50% of French people have an annual income of less than €20,150 a year (about $1,900 US per month).
• The ‘official’ unemployment rate is 10% – about 3.5 million citizens (in reality, it’s much higher).
• The youth unemployment rate is 22%. Yes, you did read that right.
• Astonishing but true: the French government employs 25% of the entire French workforce…and it’s impossible to fire them.
• Because the citizens make such little money, they pay no tax. Less than 50% of French pay any income tax at all; only around 14% pay at the rate of 30%, and less than 1% pay at the rate of 45%.
• The government can’t deliver services without taxes, so it borrows money. France’s debt-GDP is now 100%.
The world of my youth is virtually gone. It’s a fantastic loss. What will replace it? What could replace it?
From Understanding the Gilets Jaunes Uprising which you should read through for some real insight.