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French pensioners have it pretty good. The minimum age at which a French worker can obtain their state pension is 62, with many retiring as early as 60. French retirees receive some of the most generous pension payments in all of Europe, now averaging around 1,500 euros a month (about $1,750). The result is that French seniors have higher average incomes than working-age people. There's just one problem: This is completely unsustainable. The combination of generous pensions and an aging population means France is sitting on a budgetary time bomb, and the public has repeatedly rejected any attempt to defuse it. In 2023, President Emmanuel Macron pushed ahead with plans to increase the state pension age by a mere two years, to 64. This would still be enormously generous by international standards. Yet mass protests and strikes followed. Protesters in Paris set fire to bins and tires, hurling rocks at police, who responded with tear gas and water cannons. After rioters briefly blocked the train tracks at Gare de Lyon station, Clément Saild, a passenger, told NPR, "Everybody is getting madder." Macron's proposal resulted not only in mass protests but in multiple no-confidence votes in Parliament. Former French Prime Minister Michel Barnier's austerity proposals, including a six-month delay to pension increases, resulted in the collapse of his government in 2024, the first of two governments to fall within a year. In 2025, proposals to cut budgets resulted in the resignation of Macron's sixth prime minister, François Bayrou. Later that year, the government suspended the age increase until after the 2027 presidential election. Political turmoil has dashed hopes of making even a small dent in reducing the country's large and persistent budget deficit, which in 2024 hit 5.8 percent of gross domestic product (GDP). That's the country's largest deficit since World War II (apart from 2020) and it's well above the eurozone's 3 percent limit. Weary of this risk, investors have increased French borrowing costs to some of the highest levels in the entire eurozone, adding costs to the system. The core problem is the unfunded pension system. Today's French pensioners came of age in an era when there were fewer old people, and life expectancies were shorter. The country's seniors have paid far less into the system than they now receive, creating a massive budget gap. "The deficit of the pension system is really worrying,"… [TheTopNews] Read More.6 hours ago - Olivia Rodrigo reveals 65-date Unraveled world tour
Olivia Rodrigo is preparing to release her third studio album, You Seem Pretty Sad for a Girl So in Love. [TheTopNews] Read More.6 hours ago - ‘These Numbers Are Just Bad!’ CNBC’s Jim Cramer Rips Trump Amid New Inflat...
CNBC host Jim Cramer derided President Donald Trump amid a new inflation report showing numbers that are “just bad” and “reverberations” from the Iran War. While CNBC’s Rick Santelli was over the moon about jobless claims on Thursday morning, Cramer was less than enthused by the latest Personal Consumption Expenditures Price Index (PCE) report from the Bureau of Economic Analysis (BEA) — a key measure of inflation. On Tuesday morning’s edition of CNBC’s Squawk on the Street, Cramer said the report illustrates the knock-on effects of Trump’s war and mocked him for remarks he made at a photo op with the Artemis II crew: CNBC ANCHOR CARL QUINTANILLA: All right. Meantime, there is some macro. The street’s digesting a lot of data this morning. We got claims, the Fed’s preferred inflation gauge of a PCE, Jim, headline March PCE 3.5 and core 3.2. For a higher number. You got to go back to 23 on that. CNBC HOST JIM CRAMER: Yeah, these numbers are just bad! And somehow we think that bonds and rates are going up. They’re barely going up because people still believe that all this has to come down. CNBC ANCHOR CARL QUINTANILLA: You saw the 30-year get to five last night. CNBC HOST JIM CRAMER: Yeah, look, I think it should be! We’re– We have a–, this war is now, it’s reverberating through everything. I mean, you know, GE Healthcare talked about it. GE Healthcare, that’s like an MRI, MRI! I mean you know talk about impact! Like, you ever use an MRI? Do you ever imagine that that’s going to be the Gulf, you know? The Strait of Hormuz, if you know what I mean? That’s where their numbers, one of the reasons, one of the myriad reasons why their numbers were so horrible. CNBC ANCHOR DAVID FABER: You’re saying, why would that have an impact on MRI use? CNBC HOST JIM CRAMER: I use and I’m said well on the actual MRI. I’m just saying that it’s the reverberation whether it be plastic–. Look All right, I don’t know Wing Stop didn’t do the number. We have chicken which is feed of it CNBC ANCHOR DAVID FABER: Have we really seen any reverberations in our equity markets from what’s going on in the Strait of Hormuz? CNBC HOST JIM CRAMER: Well, what does this have to do with the price of Amazon? CNBC ANCHOR DAVID… [TheTopNews] Read More.6 hours ago - In Backlash Against Tech in Schools, Parents Are Winning Rollbacks
From Salt Lake City to New York City, parents are demanding more sway over the digital tools that schools give children. [TheTopNews] Read More.6 hours ago - Man sentenced to death for murder of toddlers at Ugandan nursery
Christopher Okello Onyum had pleaded insanity but this was dismissed by the judge. [TheTopNews] Read More.6 hours ago
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French pensioners have it pretty good. The minimum age at which a French worker can obtain their state pension is 62, with many retiring as early as 60. French retirees receive some of the most generous pension payments in all of Europe, now averaging around 1,500 euros a month (about $1,750). The result is that French seniors have higher average incomes than working-age people. There's just one problem: This is completely unsustainable. The combination of generous pensions and an aging population means France is sitting on a budgetary time bomb, and the public has repeatedly rejected any attempt to defuse it. In 2023, President Emmanuel Macron pushed ahead with plans to increase the state pension age by a mere two years, to 64. This would still be enormously generous by international standards. Yet mass protests and strikes followed. Protesters in Paris set fire to bins and tires, hurling rocks at police, who responded with tear gas and water cannons. After rioters briefly blocked the train tracks at Gare de Lyon station, Clément Saild, a passenger, told NPR, "Everybody is getting madder." Macron's proposal resulted not only in mass protests but in multiple no-confidence votes in Parliament. Former French Prime Minister Michel Barnier's austerity proposals, including a six-month delay to pension increases, resulted in the collapse of his government in 2024, the first of two governments to fall within a year. In 2025, proposals to cut budgets resulted in the resignation of Macron's sixth prime minister, François Bayrou. Later that year, the government suspended the age increase until after the 2027 presidential election. Political turmoil has dashed hopes of making even a small dent in reducing the country's large and persistent budget deficit, which in 2024 hit 5.8 percent of gross domestic product (GDP). That's the country's largest deficit since World War II (apart from 2020) and it's well above the eurozone's 3 percent limit. Weary of this risk, investors have increased French borrowing costs to some of the highest levels in the entire eurozone, adding costs to the system. The core problem is the unfunded pension system. Today's French pensioners came of age in an era when there were fewer old people, and life expectancies were shorter. The country's seniors have paid far less into the system than they now receive, creating a massive budget gap. "The deficit of the pension system is really worrying,"… [TheTopNews] Read More.
6 hours ago
Olivia Rodrigo is preparing to release her third studio album, You Seem Pretty Sad for a Girl So in Love. [TheTopNews] Read More.
6 hours ago
CNBC host Jim Cramer derided President Donald Trump amid a new inflation report showing numbers that are “just bad” and “reverberations” from the Iran War. While CNBC’s Rick Santelli was over the moon about jobless claims on Thursday morning, Cramer was less than enthused by the latest Personal Consumption Expenditures Price Index (PCE) report from the Bureau of Economic Analysis (BEA) — a key measure of inflation. On Tuesday morning’s edition of CNBC’s Squawk on the Street, Cramer said the report illustrates the knock-on effects of Trump’s war and mocked him for remarks he made at a photo op with the Artemis II crew: CNBC ANCHOR CARL QUINTANILLA: All right. Meantime, there is some macro. The street’s digesting a lot of data this morning. We got claims, the Fed’s preferred inflation gauge of a PCE, Jim, headline March PCE 3.5 and core 3.2. For a higher number. You got to go back to 23 on that. CNBC HOST JIM CRAMER: Yeah, these numbers are just bad! And somehow we think that bonds and rates are going up. They’re barely going up because people still believe that all this has to come down. CNBC ANCHOR CARL QUINTANILLA: You saw the 30-year get to five last night. CNBC HOST JIM CRAMER: Yeah, look, I think it should be! We’re– We have a–, this war is now, it’s reverberating through everything. I mean, you know, GE Healthcare talked about it. GE Healthcare, that’s like an MRI, MRI! I mean you know talk about impact! Like, you ever use an MRI? Do you ever imagine that that’s going to be the Gulf, you know? The Strait of Hormuz, if you know what I mean? That’s where their numbers, one of the reasons, one of the myriad reasons why their numbers were so horrible. CNBC ANCHOR DAVID FABER: You’re saying, why would that have an impact on MRI use? CNBC HOST JIM CRAMER: I use and I’m said well on the actual MRI. I’m just saying that it’s the reverberation whether it be plastic–. Look All right, I don’t know Wing Stop didn’t do the number. We have chicken which is feed of it CNBC ANCHOR DAVID FABER: Have we really seen any reverberations in our equity markets from what’s going on in the Strait of Hormuz? CNBC HOST JIM CRAMER: Well, what does this have to do with the price of Amazon? CNBC ANCHOR DAVID… [TheTopNews] Read More.
6 hours ago
From Salt Lake City to New York City, parents are demanding more sway over the digital tools that schools give children. [TheTopNews] Read More.
6 hours ago
Christopher Okello Onyum had pleaded insanity but this was dismissed by the judge. [TheTopNews] Read More.
6 hours ago
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