The publications of a little reduction of the number of jobseekers during the 3rd quarter, from 3.49 million to 3.36 million and of the 1^st growth estimation during the same period of time, i.e. 0.3%, as during the last two previous ones, have not surprised but have been accompanied with rather accommodating comments. These figures are consistent with the stagnation of both household consumption and industrial production in September.  Enterprises are still investing in taking advantage of very low interest rates but it is still to be proved that they are productive investments and not ...

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A persistent very low inflation rate is worrying. It is a paradox because during decades, governments have taken up a price stability target and central banks had as a mission to act to reach it. We still had, in Europe, the remembrance of the consequences of the German crisis in the Twenties which has not been without relation with the Nazism rise. Today, we are in the opposite situation. Central banks have interpreted their mandate in the opposite direction from what was foreseen at the origin. Instead of adopting monetary policies having as an objective to reduce prices increase to ...

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For almost two years, most of the economic reflections and comments are about the increase of risks, the imminent coming of a recession and even of a new major financial crisis. No economist did forecast the 2007-2008 one and no political leader did propose measures to cope with that risk. That incites them today to announce the worst to then pretend that “they were right in saying that”. It is indisputable that the world is going through a period propitious to accidents and even to breakdowns. Trade tensions created by the American administration have generated retorts from targeted countries. Ups ...

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