In our murky everyday life, it is good psychological hygiene to watch for reasons to be optimistic. The authorities are wrong to proclaim that we are experiencing a worse crisis than in 1929: it is paradoxically thanks to them that we will avoid the Great Depression. If, at the time, the governments and the central bankers had taken the measures adopted today by their distant successors, perhaps the West would have avoided the fatal chain that led to Hitler.
Unanimous and incredibly expansionary fiscal policy, unlimited monetary creation, as wide as necessary monetization of public debts, desire to keep the professional workforce and avoid mass unemployment. No one refuses this pharmacopoeia, including Germany which has thrown overboard the receipts of ordoliberalism and is putting dizzying amounts on the table.
Who would have thought, two months ago, that "everyday hero" would become a generic term?Likewise, we are not in 2008. At the time, the banking system was on the verge of exploding, and with it
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