➡️ Go to to unlock 4.9% APY France's economy faces turmoil due to strikes over retirement age increase. Essential industries grind to a halt as violence and unrest dissuade tourism. This video explores economic arguments, lessons for other nations, and potential impact on the Eurozone. We also spoke to Dr. Tomasz Michalski, a professor at HEC and a resident of Paris, living and working in the city while these events unfold. Our full interview with him is live on our Spotify podcast page now: 🎧 Listen at: This video was made possible by our Patreon community! ❤️ See new videos early, participate in exclusive Q&As, and more! ➡️ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ The Economic Explained team uses Statista for conducting our research. Check out their YouTube channel: Enjoyed the video? Comment below! 💬 ⭑ Enjoyed? Hit the like button! 👍 Check out our second channel Economics Explained Essentials → ✉️ Business Enquiries → hello@economicsexplained.com 🎧 Listen to EE on Spotify! 👉 Also on Apple Podcasts or anywhere else you listen! Follow EE on social media: Twitter 🐦 → Facebook → Instagram → TikTok → ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ The video you’re watching right now would not exist without the monthly support provided by our generous Patrons: Morgon Goranson, Andy Potanin, Wicked Pilates, Tadeáš Ursíny, Logan, Angus Clydesdale, Michael G Harding, Hamad AL-Thani, Conrad Reuter, Tom Szuszai, Ryan Katz, Jack Doe, Igor Bazarny, Ronnie Henriksen, Irsal Mashhor, LT Marshall, Zara Armani, Bharath Chandra Sudheer, Dalton Flanagan, Andrew Harrison, Hispanidad, Michael Tan, Michael A. Dunn, Alex Gogan, Mariana Velasque, Bejomi, Sugga Daddy, Matthew Collinge, Kamar, Kekomod, Edward Flores, Brent Bohlken, Bobby Trusardi, Bryan Alvarez, EmptyMachine, Snuggle Boo Boo ThD, Christmas, BlobyTwo Disclosures: This video includes a paid endorsement for Open to the Public Investing, Inc., member FINRA & SIPC. This does not constitute investment advice. Investing involves the risk of loss, including loss of principal. Full disclosures can be found at public.com/disclosures. All U.S. treasury investments and investment advisory services offered on Public are provided by Jiko Securities, Inc., a registered broker-dealer, member FINRA and SIPC. This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. See FINRA BrokerCheck, Jiko U.S. Treasuries Risk Disclosures and Jiko Securities Inc. Form CRS. Investments in T-bills: Not FDIC Insured - No Bank Guarantee - May Lose Value Banking services provided by Jiko Bank, a division of Mid-Central National Bank. #EconomicsExplained #FrancePension #pensionreform...(read more)
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Title: The Real Reason for France's Pension Protests: Economics Explained in English Introduction France has been gripped by widespread and vehement protests against President Emmanuel Macron's proposed pension reforms. Tens of thousands of people have taken to the streets, resulting in widespread disruptions across the country. While the media often portrays these protests as a simple resistance to change, the underlying reasons are deeply rooted in economic concerns. In this article, we will decode the economics behind these pension protests, shedding light on the real reasons motivating French citizens to voice their discontent. Pension System: An Overview To understand the protesters' grievances, it is important to first grasp the structure of France's pension system. The existing system, known as the "pay-as-you-go" system, relies on the current workforce's contributions to fund the pensions of retirees. In simple terms, today's workers pay for the pensions of yesterday's workers, with the expectation that tomorrow's workers will do the same for them. This system has served France well for decades, providing relatively stable retirement incomes for its citizens. However, a rapidly aging population, low birth rates, and increasing life expectancy have eroded the sustainability of this system. There is now a larger number of retirees relative to the working population, resulting in an increasing burden on the current workers to finance pensions. Macron's Proposal: The Universal Point-based System President Macron's proposed pension reform aims to replace the existing complex system with a universal point-based system. Under this system, each worker accumulates points based on their contributions throughout their career, with each point having a monetary value. Upon retirement, the total points accumulated would determine the pension amount received. The theoretical attractiveness of this system lies in its simplicity, transparency, and the promise of fairer calculations. However, it is the financial implications that have been the main driver of discontent and protests. Economic Concerns Giving Rise to Protests 1. Increased Retirement Age: Macron's proposal focuses on raising the minimum retirement age from 62 to 64, acknowledging the demographic challenges and increasing life expectancy. However, with retirement age being a sensitive issue, many citizens are concerned about the feasibility and fairness of delaying retirement, particularly for those in physically demanding or stressful professions. 2. Reduced Pension Benefits: Critics argue that the new point-based system would lead to a reduction in pension benefits for most workers. Concerns arise from the potential changes in the calculation of pension points, which could result in lower pensions for many compared to the existing system. This fear is particularly pronounced for those in low-paying jobs, as their lifetime contributions would be less likely to generate a decent pension. 3. Uncertain Transition Period: The reform proposals lack clarity on the transition period, leaving workers unsure about how the changes would affect them specifically. The uncertainty regarding the transfer of existing pension rights, early retirement options, and accumulated points fuels anxiety and insecurity among workers. 4. Privatization Concerns: Critics argue that the new pension system could serve as a precursor to further privatization of the pension system. This fear stems from the fact that the new system offers opportunities for private entities to manage the pension funds, raising concerns about profit motives, potential for inequality, and vulnerability to market fluctuations. Conclusion While the media often paints the French pension protests as mere resistance to change, the underlying reasons reflect deep-rooted economic concerns regarding retirement security, fairness, and uncertainty. President Macron's proposed point-based system is not inherently flawed, but it is the way it has been communicated and the potential implications that have fueled the discontent. A genuine dialogue between stakeholders and an acknowledgment of the valid economic concerns can help bridge the gap and ensure a sustainable and equitable pension system for all French citizens. https://inflationprotection.org/the-economics-behind-frances-pension-protests/?feed_id=120100&_unique_id=64bccb91acefa #Inflation #Retirement #GoldIRA #Wealth #Investing #economics #economicsexplained #EmmanuelMacron #francepension #francepensionprotest #francepensionreforms #franceprotest #franceprotest2023 #franceriots #RetirementPension #economics #economicsexplained #EmmanuelMacron #francepension #francepensionprotest #francepensionreforms #franceprotest #franceprotest2023 #franceriots
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