Why France is Poorer Than You Think (The Economic Truth)
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France is the world’s most visited country, famous for luxury fashion, fine dining, and a romantic lifestyle. But behind the postcard image lies a brutal economic reality. From stagnating wages to a crushing tax burden, the French middle class is quietly evaporating.
In this video, we dig into the data to reveal why France is steadily becoming poorer. We analyze the “Smicardization” of the workforce, the collapse of the industrial sector, and a national debt that threatens the stability of Europe. Is the French economic model broken beyond repair?
IN THIS VIDEO, WE COVER:
The “Smicardization” Phenomenon: Why even educated professionals barely earn minimum wage.
The Tax Trap: How France’s record-breaking taxes kill purchasing power.
Deindustrialization: How France became a “Museum Economy” with no factories.
The Brain Drain: Why the country’s brightest minds are fleeing to the US and Switzerland.
The Debt Bomb: The terrifying truth about France’s public finances.
CHAPTERS:
0:00 – The Fantasy vs. Reality
0:42 – The “Smicardization” of Salaries
3:13 – The Museum Economy (Deindustrialization)
5:58 – The €3 Trillion Debt Bomb
7:59 – The Great Tax Illusion
10:18 – The Pension Ponzi Scheme
12:06 – The Brain Drain (Exodus of the Elite)
14:16 – The Collapse of Public Services
15:53 – World Champions of Pessimism
18:00 – A Warning for the West
20:28 – Future Outlook
#France #Economics #Geopolitics #CostOfLiving #Finance #Europe #FrenchEconomy #Macron #DebtCrisis #GlobalEconomy
DISCLAIMER: This video is for educational and entertainment purposes only. It does not constitute financial advice.
22 Comments
French cheese isn't the best in the world. An Extra Mature Cheddar is the best cheese in the world closely followed by a Stilton. French make great soft cheese but British cheese is the best. I'll have to admit that French wine, bread and pastries are wonderful though.
UK is exactly the same as France. That’s why there’s no British Amazon or Netflix either
I'm french and I approve this message.
My wife is French. My first visit was December '91. Ahead of me in passport control was a young lady from Africa with a blanket slung over her shoulder filled with all of her meager belongings. I was fresh off being a NYC Probation Officer with about 25% of my caseload being illegals and I thought I would witness this being addressed by the officer on the front line of his nation. Instead, he stamped her passport – no questions asked – and I stared in disbelief! He threw his arms in the air and shrugged in anger when he saw my mouth gaping open… So it began! He knew it and I knew it. We go back every year and I have witnessed the truth of this video and much more… …
You are absolutely correct about the insane high taxes in France. My close relative works in a French MNC in India. Here he earns annual salary in 8 figures. His company offered him a transfer to its HQ in Paris. He reached out to me for consultation. I advised him to not be swayed about the location but take a very hard look as to whether his years in Paris will be financial disaster or not. He did. It was going to be a financial disaster for him especially since the taxes that he would be paying in France would not be benefitting him in any way as he was not going to retire and settle down in France. Plus the insane cost of healthcare was just too much. Net result, he is still here 8n India, getting promotions, becoming rich and going on tours to Europe.
Be careful trying to do a risky startup. And I don’t think healthcare is free it probably come out of your employer contributions. That get sliced off the top before the taxes. I work as a freelancer I get 35€ an hour and I have to pay all of the things out of that. If I work for payroll i get maybe 22€ an hour and they take the taxes out of that. And let’s not talk about the inflation, energy costs, housing shortage, food prices. Go to the store and the prices have risen but I can still remember last years prices
Hey guys asa gen Z do u thing we have hope?
Same thing in the US…. just not quite as bad.
Europe and Europeans will not exist much longer. Europe itself will be reanmed by it's successors. Nobody will know Europe even existed
If France had treated its colonies as development partners, they would be 10 times richer and with a lot more influence on the world
France lost Africa… The context is different now, way different
I thought this video was talking about the UK. UK has the same problems and no it isnt to do with BREXIT.
Good video. Thank you.
The author did not name several other sources of former French prosperity. Firstly, France, like most of Western Europe, has been receiving cheap gas from Russia since the late 70s of the 20th century. Secondly, the French openly plundered Africa and obtained almost free uranium for French nuclear power plants from there. Cheap energy is the foundation of French competitiveness. France has now almost abandoned Russian gas. France has lost the loyalty of African countries and now the French are forced to buy uranium in Canada, Australia or Kazakhstan at the real market price, and not for beads. The result is obvious. The French economy is losing out in competition with the American and Asian economies.
Seems all this is mirrored in the western countries, its not a french problem. and dont blame socialism, Britain and US got their with Capitalism.
There is a defining element that is not explored in this video: Socialism.
It used to be illegal for France to spend more than it took in. Deficit spending was introduced by the first Socialist President, François Mitterrand, and the debt has continued to spiral out of control every year since.
But wait: Isn’t “Socialism” the system in which the government controls the means of production?
Well, this is indeed the case in France. Every bank, every major industry, all transport industries, all utilities, all communications networks… France has symbolically divested majority ownership in many of these, but the government still controls all of it. A French President can, and regularly does recall the CEO of any bank, communications network transportation or utility to replace them with someone else from government. France has the highest percentage of wage earners working directly for the government of any developed nation.
The labor unions protect jobs to the point where, once hired, a French worker essentially can never be fired. This, combined with endemic high unemployment leads to a very stagnant workforce, where people remain in the same job, in the same position for 20, 30 even 40 years – an entire career, with very little advancement. “Climbing the ladder” is not a reality for most French workers.
This rigid employment regulation strongly discourages employers from hiring anyone. When I created a company in France, my lawyers told me not to hire anyone if possible, and where necessary to consider every employee as permanent.
This rigid employment protectionism paradoxically leads employers to seek every possible form of interim or temporary assistance, which only completes the cycle of low wages, high unemployment and precariousness for workers.
Of course the other workaround is to hire the poorest of the poor illegal immigrants with no contract, no documentation, no protection: Just look in the kitchens where tourists think they are paying for “French Cuisine”.
To suggest that the path to greater prosperity would be to take the shackles off the labor market and allow it to live and breathe off life support is terrifying to French government and workers alike, so this socialist control is like having a constrictor snake wrapped around the entire economy, tightening its grip.
Europeans don’t like to hear it, but the numbers tell the story:
West Virginia—America’s poorest state—now produces more wealth per person than the average European.
Let that sink in.
A state long viewed as the bottom of the American economy is outperforming entire European nations that once defined global prosperity.
Europe is falling behind because:
• productivity has stalled
• regulations choke innovation
• demographics are collapsing
• energy policy is self-inflicted austerity
• the work ethic that built Europe has eroded
This isn’t an insult. It’s a wake-up call.
A civilization cannot abandon its cultural and spiritual foundation, reject its work ethic, and expect to remain prosperous.
Reclaim the foundation.
Save the culture.
Save the nation.
Government meddling and excessive spending is the common scourge in all the western countries.
Wild how everyone still talks about ‘French quality of life’ while the math says the country is basically surviving on debt, denial, and nostalgia. At this point, the croissants are the only thing not collapsing.
5000 euros without "free" "Healthcare."
Thank you French for your entrepreneurs, we will take all the innovators and job creators, you can keep your unemployed islamists. ❤ 🇺🇸
This is what happens to countries that are governed by red green idiots …… its called socialism and hence it doesn’t work ! The French economic downfall started in 1981 with the election of delusional socialist Mitterand and never recovered from that disaster !