Agence France Trésor has published today its TEC 10 index which reflects the 10 years interest rate offered by the State : it is going down to reach 0,4%. It has been inferior to this level only during few days, between April 2015 15^th and 23^rd. France still fully profit from the European Central Bank policy. It will generate this year a new and substantial reduction of the cost, for the State, of its debt. Contrary to the strong rise announced, against any logic, in the 2016 finance bill, this fall will permit a reduction of at ...

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The media impact of economic news publications is mainly the result of their predictive nature. It is not new. Since the beginning of humanity, and astrology emergence can testify of it, men are obsessed by what may arrive to them and pay a lot of attention to those who pretend to tell it to them. The success of economics and of the economists is the current version of this phenomenon. There is not a single day without the release of economic forecasts. Due to the necessary delay to gather numbers we are at the point where we forecast or revise ...

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Just 50 years ago, the Cultural Revolution was starting. It was praised in France, at that time. Alain Peyrefitte, in his book “When China wakes up” concludes that” the Chinese revolution constitutes definitely the most extraordinary experience of the time being … and maybe of anytime”. Valery Giscard d’Estaing commented Mao Zedong death with these words: “a worldwide mind lighthouse has been switch off”.  Since that period, Chinese leaders took their distances in qualifying his records as a success for 70% and a failure for 30% and the People Daily, last week went further:” History has proven that the Cultural ...

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