Chamath: France Won’t Fix Itself. The Bond Market Must Force Its Hand. “I think the people have a responsibility to understand the numeric reality in which they are living. (The French) are living in a state that is spending more than any communist utopia that they hoped to achieve. Yet the outcomes are broken, which means the system is broken, and you need to reset that. And the government will not reset it on its own, and so the bond vigilantes will have to do it for them. I think they need to break the back of the French government.” Jason: “Okay, there it is. There's the mandate.” Chamath: “I think you need to take France to 8% and just break them.” Jason: “Yeah, and then all of a sudden, austerity measures, immigration, all this stuff is going to be taken a lot more seriously.” Chamath: “At least it'll all be on the table, and they will have to sort out what they're willing to give up. But right now, if you can skate through this moment, then these things continue to fester, and it is a tinderbox that at some point, again, we know what the trail of breadcrumbs can lead to in terms of fomenting this societal rage. You cannot allow that to happen. And so the government has a responsibility now to nip this in the bud in a structural way.”