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Good morning, Roca Nation. Because of Veterans Day, we published no news stories today. On behalf of all of us at Roca, thank you to all who have served.
By Max Frost
On January 8, 2024, France’s prime minister resigned, and a cycle began.
A successor was appointed, only to resign after eight months.
So a successor was appointed – only to resign after three months.
Then a successor was appointed – only to resign after nine months.
Then a successor was appointed – only to resign after 25 days.
This time, no successor could be found, so the last prime minister was brought back for the job.
The result of this turmoil is a deep political paralysis that has left France unable to solve increasingly pressing problems. And while France’s politicians bicker, the country is becoming increasingly divided and less able to pay its bills. Growth rates are down, investment has declined, and unemployment has risen. As the cycle of instability continues, getting out of it becomes ever harder.
While France is just one country, the situation there is not so different from most other developing countries. As one British finance professional recently told me, “France is our future.” And in the US, it has direct parallels to the current shutdown, which this week became the longest one in American history.
So today, we look at the situation in France and what it portends for the fate of countries like the US and the UK.
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Editor’s Note
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Thanks for reading. See you tomorrow.
—Max and Max
