Archives Jan. 1, 2026

The wonder of the United States is not waning. The New York stock exchanges continue to break records with some companies having valuations exceeding a trillion dollars, which has never been seen before. By way of comparison, the Paris-listed company with the largest capitalization, LVMH, (240 billion euros) barely exceeds a quarter of the value of the big stars of Wall Street. The new stars, supported by artificial intelligence and their suppliers, the semiconductor manufacturers, have dethroned the Internet giants. The exceptional success of business leaders like Elon Musk in electric vehicles and now in the space industry or Jeff ...

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The publication by INSEE of the mediocre results of the French economy in the 1st quarter with a 0.1% drop in GDP (against 0% in the first estimate) only confirms previous analyses. But past economic policy mistakes such as a family policy penalising those with above-average incomes or the desire to raise the retirement age while companies hardly recruit anyone over the age of 55 or the concentration of tax reductions on low wages which discourages the use of highly qualified jobs,  are not enough to explain the structural weakening that the country is facing.

Bureaucratic inflation, which manifests ...

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The succession of bad figures concerning the French economy since the beginning of the year, zero growth, inflation above 2%, unemployment on the rise with a rate back above 8%, trade deficit that is not being reduced and finally public deficits and debt at worrying levels, has not given rise to sufficient reflection to identify the causes and suggest solutions. This is all the more disappointing given that major elections will now be less than a year away.

The discourse boils down to transferring the reasons for these obvious failures to others, those that preceded it (everything began to go ...

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