The Liberty Daily 
(ZeroHedge)—France is tearing itself apart as far-left riots, a dire fiscal situation and years of unfettered mass migration collide, while President Emmanuel Macron loses his grip and his approval rating craters, raising the prospect of a victory for right-wing candidate Marine Le Pen in next year’s presidential election.
Far-left riots gained momentum in the new week, with Bloomberg reporting Tuesday that 256,000 people “demonstrated” nationwide, including 56,000 in Paris. Nearly 500 people were arrested, taking the total since September 28 to more than 6,500.
Police used tear gas in some locations, and 43 officers were injured earlier today as social unrest intensified:
The official corporate media narrative is that the rioters, many of them kids, are demanding smaller classes, building renovations, and changes to university admissions. Yet that doesn’t pass the sniff test when countless videos on social media show rioters burning down schools.
“What’s happening in France is nothing less than out-of-control mass migration. This isn’t about schools, this is about Islam wanting to take over a once great Country!” President Trump wrote on Truth Social around lunchtime in New York.
The Federalist senior editor John Daniel Davidson noted on X, “The problem looming over these riots is that France has a large population of young people who are immigrants or the children/grandchildren of immigrants that are simply not employable. They will not work and employers will not risk hiring them.”
“They are not citizens in any meaningful sense, but an unassimilated third world horde, unemployable and ultimately ungovernable,” Davidson said.
As the social unrest spirals, the dire fiscal situation intensifies: Traders have dumped French assets, such as government bonds called OATs (Obligations assimilables du Trésor), amid concerns about political instability and deteriorating public finances.
Earlier today, Le Pen released her shadow budget that shows she would shrink the deficit to 3.7% of economic output next year, well below the government’s 5% target, before bringing it to 2.2% by 2032.
Irina Kurochkina, portfolio manager at Aegon Asset Management, was quoted by Bloomberg as saying that “with centrist parties losing ground, investors are not comfortable with the outcome of the extreme right versus left,” adding, “There’s a risk they can’t make any decisions on the budget front, and so you’re left asymmetrically exposed to bad outcomes.”
France has run deficits and piled up debt for decades, and traders are now demanding higher yields to assume the risk as the country’s current trajectory puts it on what Le Pen has warned is a path towards default.
The crisis is spreading (read Goldman) to the currency market. The euro hit its weakest level since May 2025 on Monday, signaling concern that France’s fiscal and political turmoil could become a much larger issue for the entire European experiment.
Perhaps the rioters are just useful idiots being played by far-left groups furious about a possible Le Pen win that could mean a pathway towards austerity. But the dangerous game here is that, as riots and school burnings intensify, Le Pen’s odds of winning the presidential election on Polymarket continue to soar.
Macron has called an emergency meeting for Tuesday night to discuss the widening riots with officials. It appears Europe has tackled neither the far-left radicalization of its youth nor the left-wing groups likely responsible. In the US, meanwhile, the Trump administration has pressured these NGOs and unions, and, as if by magic, there have been no riots this summer or so far this fall.
