Subject: Re: Stocks take a hit
"And let's not ignore how much less stoic Americans are to being deprived."

And neither are the French.

I see France just caved on pension reform to save the Macron government. It seems the French population refuses to see that their social safety net is no longer affordable. France will continue to fund high retirement benefits at the expense of the current worker population.

https://www.france24.com/en/li...
France's public debt has steadily risen for decades, fuelled by chronic budget deficits financed through borrowing on bond markets.

The debt grew to 3.3 trillion euros ($3.9 trillion) in the first three months of this year, or over 48,000 euros per French national.

The debt amounts to 114 percent of France's annual gross domestic product (GDP, a measure of economic output) -- the third highest debt ratio in the eurozone after Greece and Italy.
US's debt to GDP is similar to France.

https://www.politico.eu/articl...
Macron saves his government (for now) by suspending pension reform

https://finance.yahoo.com/news...
65-year-old retirees in France now have higher incomes than working-age adults