Category: growth

The European social nightmare

March 8, 2016 0

What European social model? Is there only one, when the Germans are more than ever obsessed with competitiveness and their trade surplus? In reality, Merkel and Schauble’s only solution in order to compete with emerging and developing countries – and therefore to preserve Germany’s market shares – consists of crushing southern European workers under an…

By Michel Santi

Oil: victim of deflation

January 30, 2016 0

The collapse in oil prices has not brought with it the happiness that had been counted on, since economic fundamentals have not improved. As for Western consumption, its slight progress is owed more to a further drop in inflation indices than to an increase in salaries and revenues that is worthy of being called so.…

By Michel Santi

Real estate, growth’s parasite

May 29, 2015 0

The meager European economic growth – often described as anemic – stems from a savings glut. Economic stagnation becomes secular from the moment the money stops flowing, that is, once the investor keeps his precious cash in his bank account and that bank is no longer able to recycle it towards productive sectors of the…

By Michel Santi