{"id":25778,"date":"2024-03-15T13:05:50","date_gmt":"2024-03-15T12:05:50","guid":{"rendered":"https:\/\/michelsanti.fr\/?p=25778"},"modified":"2024-03-15T13:05:50","modified_gmt":"2024-03-15T12:05:50","slug":"the-age-of-barbarians","status":"publish","type":"post","link":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians","title":{"rendered":"The Age of Barbarians"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" data-attachment-id=\"25775\" data-permalink=\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians\/attachment\/the-prisoner-2\" data-orig-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?fit=675%2C1024&amp;ssl=1\" data-orig-size=\"675,1024\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"the prisoner\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?fit=198%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?fit=675%2C1024&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?resize=675%2C1024&#038;ssl=1\" alt=\"\" width=\"675\" height=\"1024\" class=\"alignnone size-full wp-image-25775\" srcset=\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?w=675&amp;ssl=1 675w, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?resize=198%2C300&amp;ssl=1 198w\" sizes=\"(max-width: 675px) 100vw, 675px\" \/><\/p>\n<p>How 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? <\/p>\n<p>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 stock markets setting historical records of increase in a morbid forward flight, passing through the real estate bubble, to the bubble of egregious inequalities that today can only be resolved by war or revolution&#8230; <\/p>\n<p>Just like the bubble that tirelessly pursued the hero of that brilliant television series, a similar curse infects our contemporary universe because, in fact, the implosion of one bubble mechanically shifts the fever to another field, not without wreaking havoc on the most vulnerable, as usual. In the end, we have gradually lost control because an individual&#8217;s life depends hardly more (to paraphrase Stiglitz) on their salary or the education given by their parents in a context where the ruined political sphere can practically do nothing more, stripped of its levers.<\/p>\n<p>The great Minsky, who passed away in 1996, theorized that stability is deceptive, that it is actually destabilizing, that hyper-fragility is often lurking behind periods of calm and prosperity. He would be compelled to thoroughly revise his thesis because shocks of all kinds &#8211; financial, inflationary, geopolitical&#8230; &#8211; have punctuated our lives for many years in a world that doesn&#8217;t even bother to hide its danger and moderate its capacity for harm anymore. Instability is now the rule, not the exception.<\/p>\n<p>Physicist Max Planck noted that science only advances &#8220;one funeral at a time.&#8221; Will the hecatombs we are facing be sources of progress?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How 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&hellip;<\/p>\n","protected":false},"author":4,"featured_media":25775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"_crdt_document":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"mc4wp_mailchimp_campaign":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[648941711,648941750,648942282,648942096,648941311,648941284,648941712,648941761,648941758,648941319,648941723],"tags":[],"class_list":["post-25778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corruption-2","category-democracy","category-financial-crisis","category-financial-repression","category-globalizazion","category-inequality","category-international-finance","category-market-crash","category-monopolies","category-stock-market-crack","category-threat-to-democracy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Age of Barbarians - Michel Santi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Age of Barbarians - Michel Santi\" \/>\n<meta property=\"og:description\" content=\"How 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&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians\" \/>\n<meta property=\"og:site_name\" content=\"Michel Santi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/michel.santi.economiste\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-15T12:05:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"675\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Michel Santi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@michelsanti1\" \/>\n<meta name=\"twitter:site\" content=\"@michelsanti1\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michel Santi\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#article\",\"isPartOf\":{\"@id\":\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians\"},\"author\":{\"name\":\"Michel Santi\",\"@id\":\"https:\/\/michelsanti.fr\/#\/schema\/person\/ba61ae1376925b43e3d1ddbc1e3eb2a4\"},\"headline\":\"The Age of Barbarians\",\"datePublished\":\"2024-03-15T12:05:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians\"},\"wordCount\":289,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?fit=675%2C1024&ssl=1\",\"articleSection\":[\"corruption\",\"democracy\",\"financial crisis\",\"financial repression\",\"globalizazion\",\"inequality\",\"international finance\",\"market crash\",\"monopolies\",\"stock market crack\",\"threat to democracy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians\",\"url\":\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians\",\"name\":\"The Age of Barbarians - Michel Santi\",\"isPartOf\":{\"@id\":\"https:\/\/michelsanti.fr\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#primaryimage\"},\"image\":{\"@id\":\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?fit=675%2C1024&ssl=1\",\"datePublished\":\"2024-03-15T12:05:50+00:00\",\"author\":{\"@id\":\"https:\/\/michelsanti.fr\/#\/schema\/person\/ba61ae1376925b43e3d1ddbc1e3eb2a4\"},\"breadcrumb\":{\"@id\":\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?fit=675%2C1024&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?fit=675%2C1024&ssl=1\",\"width\":675,\"height\":1024},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Accueil\",\"item\":\"https:\/\/michelsanti.fr\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Age of Barbarians\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/michelsanti.fr\/#website\",\"url\":\"https:\/\/michelsanti.fr\/\",\"name\":\"Michel Santi\",\"description\":\"\\\"It is not because things are difficult that we do not dare. It is because we do not dare that they seem difficult\\\", Seneca the Younger\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/michelsanti.fr\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/michelsanti.fr\/#\/schema\/person\/ba61ae1376925b43e3d1ddbc1e3eb2a4\",\"name\":\"Michel Santi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/michelsanti.fr\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g\",\"caption\":\"Michel Santi\"},\"sameAs\":[\"https:\/\/michelsanti.fr\/\"],\"url\":\"https:\/\/michelsanti.fr\/en\/author\/msanti17\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Age of Barbarians - Michel Santi","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians","og_locale":"en_US","og_type":"article","og_title":"The Age of Barbarians - Michel Santi","og_description":"How 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&hellip;","og_url":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians","og_site_name":"Michel Santi","article_publisher":"https:\/\/www.facebook.com\/michel.santi.economiste","article_published_time":"2024-03-15T12:05:50+00:00","og_image":[{"width":675,"height":1024,"url":"https:\/\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg","type":"image\/jpeg"}],"author":"Michel Santi","twitter_card":"summary_large_image","twitter_creator":"@michelsanti1","twitter_site":"@michelsanti1","twitter_misc":{"Written by":"Michel Santi"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#article","isPartOf":{"@id":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians"},"author":{"name":"Michel Santi","@id":"https:\/\/michelsanti.fr\/#\/schema\/person\/ba61ae1376925b43e3d1ddbc1e3eb2a4"},"headline":"The Age of Barbarians","datePublished":"2024-03-15T12:05:50+00:00","mainEntityOfPage":{"@id":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians"},"wordCount":289,"commentCount":0,"image":{"@id":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?fit=675%2C1024&ssl=1","articleSection":["corruption","democracy","financial crisis","financial repression","globalizazion","inequality","international finance","market crash","monopolies","stock market crack","threat to democracy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#respond"]}]},{"@type":"WebPage","@id":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians","url":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians","name":"The Age of Barbarians - Michel Santi","isPartOf":{"@id":"https:\/\/michelsanti.fr\/#website"},"primaryImageOfPage":{"@id":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#primaryimage"},"image":{"@id":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?fit=675%2C1024&ssl=1","datePublished":"2024-03-15T12:05:50+00:00","author":{"@id":"https:\/\/michelsanti.fr\/#\/schema\/person\/ba61ae1376925b43e3d1ddbc1e3eb2a4"},"breadcrumb":{"@id":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#primaryimage","url":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?fit=675%2C1024&ssl=1","contentUrl":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?fit=675%2C1024&ssl=1","width":675,"height":1024},{"@type":"BreadcrumbList","@id":"https:\/\/michelsanti.fr\/en\/corruption-2\/the-age-of-barbarians#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Accueil","item":"https:\/\/michelsanti.fr\/"},{"@type":"ListItem","position":2,"name":"The Age of Barbarians"}]},{"@type":"WebSite","@id":"https:\/\/michelsanti.fr\/#website","url":"https:\/\/michelsanti.fr\/","name":"Michel Santi","description":"\"It is not because things are difficult that we do not dare. It is because we do not dare that they seem difficult\", Seneca the Younger","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/michelsanti.fr\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/michelsanti.fr\/#\/schema\/person\/ba61ae1376925b43e3d1ddbc1e3eb2a4","name":"Michel Santi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/michelsanti.fr\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e6bc76c70234e8753d2b85c3b3bd08397f8734d2cddafa2d9ab319e7163e44a1?s=96&d=identicon&r=g","caption":"Michel Santi"},"sameAs":["https:\/\/michelsanti.fr\/"],"url":"https:\/\/michelsanti.fr\/en\/author\/msanti17"}]}},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/the-prisoner.jpg?fit=675%2C1024&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pagvtB-6HM","jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":19046,"url":"https:\/\/michelsanti.fr\/en\/bubble\/welcome-to-the-worst-of-worlds","url_meta":{"origin":25778,"position":0},"title":"Welcome to the worst of worlds","author":"Michel Santi","date":"October 31, 2018","format":false,"excerpt":"How could we not recall the British cult TV series from the \u201860s, The Prisoner, where a giant bubble frantically pursued the hero played by Patrick McGoohan? Our world now finds itself in a similar situation: we are all hostages to the now-plentiful bubbles, and not only the speculative bubbles\u2026","rel":"","context":"In &quot;bubble&quot;","block_context":{"text":"bubble","link":"https:\/\/michelsanti.fr\/en\/category\/bubble"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/prisonnier-telephone.jpg?fit=420%2C300&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":25800,"url":"https:\/\/michelsanti.fr\/en\/capitalism\/world-life-prognosis-at-stake","url_meta":{"origin":25778,"position":1},"title":"World : Life prognosis at stake","author":"Michel Santi","date":"March 18, 2024","format":false,"excerpt":"It'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\u2026","rel":"","context":"In &quot;capitalism&quot;","block_context":{"text":"capitalism","link":"https:\/\/michelsanti.fr\/en\/category\/capitalism"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/ambulance-danger.jpg?fit=932%2C582&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/ambulance-danger.jpg?fit=932%2C582&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/ambulance-danger.jpg?fit=932%2C582&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2024\/03\/ambulance-danger.jpg?fit=932%2C582&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":13832,"url":"https:\/\/michelsanti.fr\/en\/bubble\/1929-2008-and-2019","url_meta":{"origin":25778,"position":2},"title":"1929, 2008, and 2019?","author":"Michel Santi","date":"October 9, 2018","format":false,"excerpt":"Why get worried about exaggerations \u2013 aberrations even \u2013 over current stock market prices when the American index of reference, the S&P 500, is only showing drops in the way of 1%? While US public debt is reaching astronomical heights of nearly 22 trillion dollars and while companies listed on\u2026","rel":"","context":"In &quot;bubble&quot;","block_context":{"text":"bubble","link":"https:\/\/michelsanti.fr\/en\/category\/bubble"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/mort-aux-trousses.jpg?fit=890%2C501&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/mort-aux-trousses.jpg?fit=890%2C501&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/mort-aux-trousses.jpg?fit=890%2C501&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/mort-aux-trousses.jpg?fit=890%2C501&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":27581,"url":"https:\/\/michelsanti.fr\/en\/banking-crisis\/central-banks-the-new-weak-link-in-our-system","url_meta":{"origin":25778,"position":3},"title":"Central Banks: The New Weak Link in Our System?","author":"Michel Santi","date":"February 22, 2025","format":false,"excerpt":"The European Central Bank announces a loss, the largest since its creation, of 8.3 billion euros for the 2024 fiscal year. By choice, or by lack of rigor, it has paid to banks interest rates far too high in relation to the returns on the various bonds that it holds.\u2026","rel":"","context":"In &quot;banking crisis&quot;","block_context":{"text":"banking crisis","link":"https:\/\/michelsanti.fr\/en\/category\/banking-crisis"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/02\/GkTG59cWAAA8z7f.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/02\/GkTG59cWAAA8z7f.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/02\/GkTG59cWAAA8z7f.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/02\/GkTG59cWAAA8z7f.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/02\/GkTG59cWAAA8z7f.jpg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2025\/02\/GkTG59cWAAA8z7f.jpg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":13703,"url":"https:\/\/michelsanti.fr\/en\/capitalism\/somethings-got-to-give","url_meta":{"origin":25778,"position":4},"title":"Something\u2019s got to give","author":"Michel Santi","date":"April 21, 2016","format":false,"excerpt":"The secular stagnation that is infecting our economies brings with it the germs of instability and financial torment. Since interest rates and monetary creation are the only weapons still at the disposal of the only public institutions that still wield some sort of power in our modern world, their initiation\u2026","rel":"","context":"In &quot;bubble&quot;","block_context":{"text":"bubble","link":"https:\/\/michelsanti.fr\/en\/category\/bubble"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Ce93s9lVAAAb6FR.jpg?fit=600%2C337&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Ce93s9lVAAAb6FR.jpg?fit=600%2C337&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/Ce93s9lVAAAb6FR.jpg?fit=600%2C337&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":13700,"url":"https:\/\/michelsanti.fr\/en\/real-estate\/when-real-estate-threatens-growth","url_meta":{"origin":25778,"position":5},"title":"When real estate threatens growth","author":"Michel Santi","date":"April 13, 2016","format":false,"excerpt":"It\u2019s not a coincidence if real estate prices \u2013 relatively stable up until now \u2013 suffered unhealthy volatility at the dawn of the 1990s. This phenomenon was the direct consequence of integrating the banking and financial systems together because deregulation and innovations such as securitisation intensified the flow of cross-border\u2026","rel":"","context":"In &quot;bubble&quot;","block_context":{"text":"bubble","link":"https:\/\/michelsanti.fr\/en\/category\/bubble"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/michelsanti.fr\/wp-content\/uploads\/2018\/10\/subprime-mortgages.jpg?fit=500%2C350&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/25778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/comments?post=25778"}],"version-history":[{"count":3,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/25778\/revisions"}],"predecessor-version":[{"id":25781,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/posts\/25778\/revisions\/25781"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media\/25775"}],"wp:attachment":[{"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/media?parent=25778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/categories?post=25778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michelsanti.fr\/en\/wp-json\/wp\/v2\/tags?post=25778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}