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France Is A Warning To The Rest Of The World
France hasn't balanced a budget since 1974. It owes more than 3 trillion euros, has gone through four prime ministers in two years, and the interest bill is heading towards 100 billion a year. The last time France's finances looked like this was 1788, and we all know what happened next.
In this episode: why debt feels so good, why nobody can fix it, what the bond market does when it loses patience, the four doors every indebted country eventually has to pick from, and why France is a warning to Italy, Britain and the United States.
Chapters
0:00 1788 vs today
1:11 France today
2:04…
The skinny
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