The Limited Times

“Growth: the infernal gear”

4/29/2022, 7:12:01 PM


By Gaëtan de Capèle, deputy editor of Le Figaro. For several months, we had taken to dreaming. With the health crisis absorbed to the point of indigestion by the welfare state, business seemed to be moving forward as no one had dared to imagine. The rapid resumption of activity after months of pandemic, the regained health of companies, the continuous fall in unemployment had even almost plunged us - it takes little for us - in a climate of mild

For several months, we had taken to dreaming.

With the health crisis absorbed to the point of indigestion by the welfare state, business seemed to be moving forward as no one had dared to imagine.

The rapid resumption of activity after months of pandemic, the regained health of companies, the continuous fall in unemployment had even almost plunged us - it takes little for us - in a climate of mild euphoria.

Doom!

Zero growth in the first months of the year points to a much harder landing than expected.

The government, for once, can't do anything about it: Ukraine, Covid, China, soaring energy and raw material prices... an incredible accumulation of calamities is overwhelming the planet without distinction.

Times are going to be rough for everyone.

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