And now a financial crisis?
The central bankers, terrified by the return of inflation, began a few months ago a sequence unprecedented in its power and its speed, of raising interest rates.
The brutality of this change of direction upsets the entire economic landscape.
For individuals as well as for companies and States, the monetary tap is drying up, credit is becoming more expensive.
In short, the main support for growth in recent years is abruptly disappearing.
To this radical change of environment is now added a new element: certain banks, which pay little heed to their risks, find themselves taken on the wrong foot and collapse.
Haunted by the memory of the 2008 crisis, the markets are panicking, wondering who will be the next victim.
Three express rescues have just been organized in an emergency, in order to avoid a crash.
In a word, we are dancing on a volcano.
Until recently, expert scholars explained to us…
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