The Recession Always Strikes Three Times.

The too rapid recovery of the economy after the violent fall of 2020 has created major imbalances that we will pay for in the coming months.

Before the beginning of a play, the audience's attention is drawn to a roll of blows struck by a stick. Then three separate blows, which used to be used to coordinate the stagehands, precede the curtain call. Today, the same thing happens in economics. And the play could be called “The Recession”.

At the beginning of 2022, this prospect seemed far-fetche…