Crisis: they are both deceived by our economists!

No, I reassure you right away: this is not Frederic Lefebvre … Even if it is large provider, it is alas! not only to utter crap so beautiful. It would be many. The worst of the matter is no doubt it is the work of an alleged “economist”!
By sheer chance I had kept the article in its paper version, probably because I augured that is contradicted by the facts and I would serve. I found one from Alain Faujas written three weeks later and is about as prescient chronicle of the disaster that should not happen … Heaven! What has happened to my crystal ball?
But then, January 2, 2008 Gatinois Claire has collected about a very distinguished economist certainly – David Naude at Deutsche Bank – who thought the U.S. would avoid recession! and thus prophesied: “There will be no crash in 2008” … The title of the article was a gem in itself: “Even though the crisis has plunged the world stock markets in a volatile situation, the economy remains robust “…
Even when he acknowledged in the article that the situation was serious, the worst was possible that the failure of a major U.S. bank … “The financial sector was hit but the rest of the economy is. Growth has remained robust in the United States. In Europe the figures were startling. In addition, companies are still in good health, low debt and profitable “… How can I be so blind?
Still in Le Monde and three weeks later, Alain Faujas should be an incredible show, and stainless incorrigible optimism in an article in the January 18, 2008 The global economy should be resilient in 2008 when he relied on the analysis of an economist Ultra Shine – Francois Bourguignon, Director of the Paris School of Economics! How many blind idiots he formed in his image? – Who was not afraid to say that “strong shocks are in place, as the huge reserves accumulated by Asian countries and oil countries. Less savings in Asia and more savings in the United States, it is far from a global crisis but rather a phase of adjustment absolutely necessary, given the enormous imbalances that we had accumulated during the five beautiful years that the global economy comes to know “… Close the ban!
The peroration of Alain Faujas is no less astonishing blindness that also asinien psittaci … Citing Luca Silipo, head of the Economics Department of Natixis – a joint subsidiary of the Caisse d’Epargne and Banques Populaires which could be measured rigorous management! A colossal loss of 948 million euros in H1 2008, ie before the crash of September 21, 2008 … In two days, Natixis had lost 28.4% of its value mainly because of the 109 million Euro Securities Lehman Brothers investment bank perished in the storm, it held as an article of Liberation French banks shaken – that the strength of the global economy is due to the international business …!

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Eli Wads is one of our expert authors in technology and business fields.Currently living in San Marino, Eli has graduated at Southwestern Academy with a Bachelor Degree in business in 2008. Contact him by dropping him an e-mail at

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