Inflation risk wins over investors
Twenty days after the invasion of Ukraine by Russia, the risk of inflation takes precedence over the risk of slowing activity in the perception of investors.At her press conference, Christine…
Philippe Waechter's blog
Russian aggression on Ukraine – Stagflation in Europe and the impact of sanctions
The stagflation risk in Europe In Western countries, there is renewed risk of stagflation. Uncertainty related to the conflict could lead to delayed investment or consumption expenditures weighing on the…
From Today to Tomorrow – December 22 – The three ruptures of the health crisis – We must rebuild the economy
The health crisis was a life-size experience. As a result of active economic policies, economies have been resilient. But three ruptures will change the economy of tomorrow.The first is the…
From Yesterday to Today – October 16 – Low interest rates for an extended period before inflation
Low interest rates reflect the combination of fiscal and monetary policies. This is already translating into severe financial repression. Governments, more than central banks, will have an interest in a…
Europe must choose its philosophy
The European Commission will have to choose between the Franco / German plan and the proposal of “frugal four”. The choice will shape the trajectory of Europe for the years…
Governments Want Recession
The recession is desired by governments to reduce the pandemic. It has never been done before and that is why the crisis is not ordinary The current crisis has two…
Germany 1923 versus World 2021
What can happen if the scenario underlying all the economic policy measures to face the epidemic shock is not the right one? What could happen if the health crisis continues?Risk…
The perverse equation of an epidemic for growth
Growth is doomed until uncertainty about the magnitude, duration and contagion of the epidemic is reduced. The responses, although rational, accentuate the risk of recession. Economic growth will frankly slow…