Fed: the silent crisis
November 8, 2025The Federal Reserve, the central bank of the United States of America, has recently lost access to a valuable macroeconomic indicator: anonymized data on employment and wages provided by ADP, the payroll-processing giant. More than just a technical anecdote, this statistic—no longer available to the Fed—poses a threat to stability and hinders its ability to…
Hail the sacred neoliberal — the end is nigh
May 12, 2025Chinese surpluses are not eternal. Just as neoliberalism is not immutable. Even though nearly all economists, analysts, and journalists would cry out in outrage whenever a rare few like myself dared to question it. It was the absolute dogma, an irresistible force, a determinism that imposed a heavy, long-term continuity — against all odds. Jürgen…
April 9th., 2025
April 9, 2025In response to the United States, China is increasing its tariffs from 34% to 84%. It is not yielding to pressure. Globalization officially ends today.
Europe, the eternal indecisive
May 10, 2024The interests only on their public debt has cost the United States more than $1 trillion in the past 12 months, and these amounts are condemned to increase due to the maintenance, for some time still, of the current level of interest rates. But it doesn’t matter: they have the King $. While we…
Disruption Ahead?
March 26, 2024The port of Baltimore was significant in US vehicle imports. «Predictability: Does the Flap of a Butterfly’s Wings in Brazil Set off a Tornado in Texas?», Edward Lorenz, 1972 Globalization or not globalization? As the Swiss say, you can’t have the butter and the money from the butter…
World : Life prognosis at stake
March 18, 2024It’s always the same eternal questions that torment us when a bubble bursts and wreaks havoc on human, economic, and ecological fronts: How did we get here? What happened? Our world finds itself today in a critical situation with few historical precedents because we are now all hostages to multiple and repetitive bubbles. There’s the…
The Age of Barbarians
March 15, 2024How can we forget the cult British series from the 60s, The Prisoner, where a terrifying bubble relentlessly pursued the hero played by the charismatic Patrick McGoohan? Our world finds itself in a similar situation because we are now all hostages to bubbles. From the bubble that isolates the rulers, to the bubble of the…
Truss debacle: markets turned whistleblowers
November 3, 2022“We meant to change a nation, and instead, we changed a world” was an emblematic declaration by Ronald Reagan who shared throughout his Presidency with Margaret Thatcher fundamentally individualistic obsessions where the State represented the absolute threat against freedom and against property. And, in fact, their advent – of Margaret Thatcher in Great Britain and Ronald Reagan in the United States – provided these…
Deglobalisation on the Move
July 5, 2022While democracy wasn’t supposed to win every time, rationality and good economic sense were. The world of business and trade were to enjoy the kind of prosperity inspired by the Big Bang i.e. an expansion that has only the world as its limit. And every nation, every company and every group of individuals…
Are we all complicit in globalisation?
June 25, 2018Milton Friedman maintained the theory that unfettered free trade would generate – in the long term – a wealth that would trickle down over everyone. Contrary to the ideas made out, the liberalisation of trade (which goes hand in hand with the free circulation of capital) is not the only reason for the world’s dramatic…