Too late to fight against inequality!
April 24, 2015Do not be fooled by deflation. It is the decades-old general decline in wages, which inevitably leads to the lowering of consumer prices. And consumer prices will be made to adjust to the deterioration of our standard of living. Deflation is only the natural result of our shrinking purchasing power. Prices collapse for an obvious…
There is life outside of work
April 24, 2015The time when Voltaire stated in Candide that “Work saves us from three great evils: boredom, vice and need” is over. Today, it is no longer appropriate to work regardless of the cost. In other words, less work could improve our living conditions and could undoubtedly improve the way we do work. The belief that…
Negative rates? No, a revolution in attitudes!
April 24, 2015How should we live in a world where interest rates are negative? It is a genuine paradigm shift that tells us to prepare for global deflation. While the U.S. will be spared, our Europe is sinking into economic stagnation, an ice age likely to be secular in nature. Switzerland and Denmark are leading the way…
Europe faces its old demons
March 23, 2015The European government elites are sinking into denial. Their frightened posture against public deficits and preference for strict financial orthodoxy is a reflection of an age-old tendency for self-destruction. However, the current version of this tendency is about to lead them to a nasty state of affairs. I am referring to the ascension of extreme-right…
There is no German miracle
March 14, 2015German politicians live and evolve in a parallel universe. Their trade surpluses, their fiscal and restrictive fiscal policies and their anemic domestic investment are all compelling evidence of the “economic autism” of their government elites. Those political leaders incessantly affirm in public the validity of these surpluses as if trying to convince themselves that these…