French PM Fillon tells farmers ‘France is broke’ but so are the other nations.

French PM Fillon tells farmers ‘France is broke’ - Telegraph
France is bankrupt and can no longer afford to pay its workers generous salaries and subsidies, its prime minister has declared.

Francois Fillon made the undiplomatic outburst during a trip to the French island of Corsica, where farmers were demanding more government money. “I am at the head of a state that is in a position of bankruptcy,” he said. “I am at the head of a state that for 15 years has been in chronic deficit. I am at the head of a state that has not once passed a balanced budget in 25 years. This can’t go on.”

Most of the rest of the world is bankrupt as well. Democratic socialism has not worked because their representatives continually spend more than the nation has. When the bills come due there will be chaos. You will not have long to wait to see the results of this failed system.

What it really comes down to is that most investments just finance debts that will have to be paid with money worth far less, or not paid at all. That means that entitlements, dividends, bonds etc., will be paid with increasingly worthless money or they will never be paid. There will be runaway inflation, defaults or both. It will bring about a world depression. After most people have lost everything they will just set up a new system.

It could start happening any day now. For sure, it will happen before the bulk of the ageing populations draws social entitlements that cannot be paid.