The entire world, since the beginning of this November month, was turning its eyes at the United States and was wondering about the respective chances of both candidates. No election in the past had attracted such an impact, for two reasons: the result has been undecided until the end, with swings at every incident and the personality of one of the two candidates  fascinates some and scares the others. Nobody can predict the economic consequences of the election of Donald Trump. This uncertainty carries heavy consequences and will last until January when the transfer of power between Barack Obama and ...

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Just three years ago, who had ever heard about Donald Trump and Elon Musk ? Those who had stayed in New York during the Eighties remembered the story of a real estate magnate who got bankrupted but who recovered. There was a Trump Tower, on 5th avenue and rumors in tabloids about his misbehaviors and his divorces. But nobody paid attention to him anymore. Today, he is the republican candidate for the next presidential election, which will occur in six months from now, to the great displeasure of the party establishment, who has done all it could do to turn him ...

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When, during 2007 summer, banks realized they had, in their books, assets which were constituted with irrecoverable loans, financial planet started to be shaken. It will be necessary to wait for Lehmann bankruptcy, a year later, to assess the size of the disaster which provoked the biggest post-war financial crisis and a major world recession. Are we on the brink of the same situation? Market value of the banking sector has fallen since the beginning of the year and it reflects this concern but, apparently, banks are in a much better situation than in 2007. Their core capital ratios have ...

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