The impressive score of Jair Bolsonaro in the first round of Brazilian presidential election has aroused attention on the country from all around the world. The populist authoritarianism with its racist and homophobic whiffs and the liberalism which inspires the economic program of the candidate show that this one is full of contradictions. Commentators have noticed some similarities with Donald Trump election. They even have made a comparison with the divisions and the crisis which is affecting Europe. Yet, that analysis is superficial. Brazil political and economic situation is quite different. If we set aside some short periods of time ...

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The latest estimation of the American growth rate during the second 2018 quarter has just been published: 4.2%. It is an annualized rate. In Europe we use quarterly rates which give the illusion that our numbers are much lower than they are in reality. In using the same method, the American quarterly rate is closed to 1%. Compared to French 0.2% rate for the first 2018 two quarters, the achievement is enviable. During the last twelve months, American growth is close to 3%, which is twice higher than in the eurozone and nothing allows us to think that ...

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As expected by financial markets, the Federal Reserve Bank in Washington rose its interest rates this week by 0.25% to 2.25% and nothing in the comments of its chairman makes us thinking that the institution has renounced to rise it again before the end of the year. Some days before, Mario Draghi who chairs the European Central Bank was delighted about the inflation in the Eurozone which was “sound” and convinced that its target to come back to 2% will be reached. Financial markets have deduced that the end of the accommodative policy was confirmed and that they ...

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