Economics: an inexact science
November 13, 2021The raising of America’s debt ceiling has again been in the headlines these last few weeks. It was in 1917 that this practice began in the US, not to put the brakes on public spending as many believe, but to give flexibility to the executive branch during its participation in the First World War.…
Inequalities are an inevitability but the truth is a right
December 5, 2020More jobs will be lost. More businesses will go bust. More people will slip into precariousness. More children will go hungry. Let’s not kid ourselves about the exorbitant economic cost of the crisis to come. Also, the people must know what to prepare themselves for and they deserve clear explanations from their governments. They…
Austerity is not an inevitability !
May 18, 2020You are greatly mistaken if you think Europe’s woes to come will be caused by a liquidity crisis. It is in fact a solvency crisis that poses an imminent threat to many members of the Union who don’t really need their funding costs to decrease, but who are desperately in search of transfers and…
Central banks dining with the devil!
September 16, 2015One after another, every establishment which has the power to print money has joined in on the feast. In the absence of public policies dedicated to openly relaunching growth and battling unemployment, and in the presence of indecisive politicians who are not versed in economics, only central banks have had the ammunition capable of neutralising…
The real estate standard
April 28, 2015At the height of the 2008 financial crisis, the U.S. government seriously considered nationalizing a large chunk of the American banking system. Instead, what it did was take effective control of the massive U.S. mortgage market. Without Federal guarantees and full government support, the U.S. real estate market (already under critical pressure from the subprime…