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        <title><![CDATA[Jean-Pierre Chevallier, business economist]]></title>
        <link>https://chevallier.over-blog.net/</link>
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                    <item>
    <title><![CDATA[B-2’s beautiful Christmas gift!]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-26211930.html]]></link>
    <guid>https://chevallier.over-blog.net/article-26211930.html</guid>
    <pubDate>Sun, 28 Dec 2008 21:26:00 +0100</pubDate>
    <description><![CDATA[B-2’s beautiful Christmas gift! B-2 (the Northrop Grumman B-2 Spirit, also known as the Stealth Bomber ), Ben Bernanke , offered a really nice Christmas gift to the Americans and the world! Indeed, yields Notes reached their low point on 17 and December... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Globalization balances]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-26207638.html]]></link>
    <guid>https://chevallier.over-blog.net/article-26207638.html</guid>
    <pubDate>Sun, 28 Dec 2008 18:57:00 +0100</pubDate>
    <description><![CDATA[Globalization balances Once again, good old Alan Greenspan is right: the balances must be considered and implemented now at the level of nations and financial institutions taking into account the global balances, which is a little trickier than the time... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[The age of turbulence]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-16934339.html]]></link>
    <guid>https://chevallier.over-blog.net/article-16934339.html</guid>
    <pubDate>Fri, 22 Feb 2008 15:28:00 +0100</pubDate>
    <description><![CDATA[The age of turbulence The latest figures yesterday published by the Fed are worse than those of the previous week: Americans increased their savings of $ 40 billion compared with the previous week, and especially to $ 127 billion over the last 4 weeks... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Bad]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-16680843.html]]></link>
    <guid>https://chevallier.over-blog.net/article-16680843.html</guid>
    <pubDate>Fri, 15 Feb 2008 15:39:00 +0100</pubDate>
    <description><![CDATA[Bad The latest figures published yesterday by the Fed are bad: M2-M1 rose by 8% (year o year) since 2 weeks, Chart 1: (Click here to enlarge the graph) The stocks market collapse, which was amplified during the week on January, 21 (with Société Générale)... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Reversal of trend?]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-16456678.html]]></link>
    <guid>https://chevallier.over-blog.net/article-16456678.html</guid>
    <pubDate>Fri, 08 Feb 2008 22:34:00 +0100</pubDate>
    <description><![CDATA[Reversal of trend? Americans increased their savings to $ 47.4 billion in the week ending January 28, which is significant because an increase of this magnitude occurred only once previously in history: in the week after September 11, 2001 with $ 51 billion,... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Productivity and growth]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-16219577.html]]></link>
    <guid>https://chevallier.over-blog.net/article-16219577.html</guid>
    <pubDate>Fri, 01 Feb 2008 21:27:00 +0100</pubDate>
    <description><![CDATA[Productivity and growth American companies increase their sales (GDP increases normally at 3.5%), but they do not create jobs. Overall they have even removed 17,000 in January including over 50,000 in the manufacturing sector. Productivity gains are now... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Confirmation of my analyses…]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-16202125.html]]></link>
    <guid>https://chevallier.over-blog.net/article-16202125.html</guid>
    <pubDate>Fri, 01 Feb 2008 12:17:00 +0100</pubDate>
    <description><![CDATA[Confirmation of my analyses… The latest figures released by the Fed on January, 31 (and those of the GDP growth) confirm my previous analyses: the increase in the aggregate M2-M1 is slightly less than 7% (from one year to another) on January 21, which... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[American growth at 2.5%!]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-16156304.html]]></link>
    <guid>https://chevallier.over-blog.net/article-16156304.html</guid>
    <pubDate>Wed, 30 Jan 2008 21:54:00 +0100</pubDate>
    <description><![CDATA[American growth at 2.5%! The rate of real GDP growth in fourth quarter 2007 was at 2.5% year on year, exactly in line with what I predicted under my law on free money supply: the free real GDP growth varies with the inverse of the variance of the free... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Free money supply and growth]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-16073239.html]]></link>
    <guid>https://chevallier.over-blog.net/article-16073239.html</guid>
    <pubDate>Mon, 28 Jan 2008 13:21:00 +0100</pubDate>
    <description><![CDATA[Free money supply and growth Part 1: M3 free money supply The variation of the real GDP growth rate is inversely proportional to that of the free money supply which is the difference between the increase of M3, the money supply in current data and (less)... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Americans continue to well react!]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-15986739.html]]></link>
    <guid>https://chevallier.over-blog.net/article-15986739.html</guid>
    <pubDate>Fri, 25 Jan 2008 15:30:00 +0100</pubDate>
    <description><![CDATA[Americans continue to well react! Americans continue to well react, as demonstrated by the developments in monetary aggregates figures on January, 14: they increase less savings because their economic situation is good and they anticipate an improvement.... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Growth and American free money supply]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-15982191.html]]></link>
    <guid>https://chevallier.over-blog.net/article-15982191.html</guid>
    <pubDate>Fri, 25 Jan 2008 12:41:00 +0100</pubDate>
    <description><![CDATA[Growth and American free money supply USA are not in recession! The careful observation of changes in monetary aggregates, in particular M2-M1 since 2005 shows that real GDP growth returns in its average of 3.5% (from one year to another), Chart 1: (Click... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
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                    <item>
    <title><![CDATA[Americans very well react!]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-15765444.html]]></link>
    <guid>https://chevallier.over-blog.net/article-15765444.html</guid>
    <pubDate>Fri, 18 Jan 2008 12:48:00 +0100</pubDate>
    <description><![CDATA[Americans very well react! Americans very well react, better than fund managers as evidenced by the evolution of monetary aggregates figures on Jan. 7. Indeed, Americans increased less savings because their economic situation is good and they anticipate... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Americans well react!]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-15550611.html]]></link>
    <guid>https://chevallier.over-blog.net/article-15550611.html</guid>
    <pubDate>Fri, 11 Jan 2008 15:52:00 +0100</pubDate>
    <description><![CDATA[Americans well react! Americans well react: on December 31, they decreased their savings compared to the previous week of $ 4.8 billion to spend more. M2-M1 decreased, the increase in M2-M1 (year-on-year)… decreased below 7%. Chart 1: ( Click here to... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
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                    <item>
    <title><![CDATA[Back to normal]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-15278137.html]]></link>
    <guid>https://chevallier.over-blog.net/article-15278137.html</guid>
    <pubDate>Fri, 04 Jan 2008 13:38:00 +0100</pubDate>
    <description><![CDATA[Back to normal The latest figures released by the Fed on January 3 confirm the previous trend: the increase in savings of Americans (M2-M1)… decreased during the first 4 weeks of December. The increase in M2-M1 tends to 7.5%, meaning that Americans have... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Monetary Aggregates, still]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-14506894.html]]></link>
    <guid>https://chevallier.over-blog.net/article-14506894.html</guid>
    <pubDate>Mon, 10 Dec 2007 15:21:00 +0100</pubDate>
    <description><![CDATA[Monetary Aggregates, still Once again, the change in monetary aggregates is the best indicator of the present and future economic situation. M2-M1 grew increasingly until March 2007: Americans increased their savings because they felt that their situation... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Retirements, euro, bubble and crisis]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-13954830.html]]></link>
    <guid>https://chevallier.over-blog.net/article-13954830.html</guid>
    <pubDate>Tue, 20 Nov 2007 22:12:00 +0100</pubDate>
    <description><![CDATA[Retirements, euro, bubble and crisis In France, pension liabilities are not accounted by companies or by the state. These debts amounted overall to €4,500 billion or 3 times the GDP at the end of 2004! The unearned money circulates in France and in other... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Calm and Storm]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-13841897.html]]></link>
    <guid>https://chevallier.over-blog.net/article-13841897.html</guid>
    <pubDate>Fri, 16 Nov 2007 15:05:00 +0100</pubDate>
    <description><![CDATA[Calm and Storm Americans work: unemployment rate is low at 4.7%. They make money, spend and save. Everything is fine. Their real wages do not increase, allowing contain core inflation below 2% but requires them to restrict their consumption. The demand... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[M3 and the American success]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-13451151.html]]></link>
    <guid>https://chevallier.over-blog.net/article-13451151.html</guid>
    <pubDate>Tue, 30 Oct 2007 22:50:00 +0100</pubDate>
    <description><![CDATA[M3 and the American success American companies lacked cash until the late 1990s. Indeed, the aggregate M3-M2 totaled cash to less than 20% of GDP, Figure 1: http://s3.archive-host.com/membres/up/2107676425/20071030US1M123.gif Everything changed at the... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Growth increasingly low]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-13359580.html]]></link>
    <guid>https://chevallier.over-blog.net/article-13359580.html</guid>
    <pubDate>Fri, 26 Oct 2007 22:08:00 +0200</pubDate>
    <description><![CDATA[Growth increasingly low Real GDP growth is increasingly weak in the United States as evidenced by the latest figures of monetary aggregates (on Oct. 25). M2-M1 continues to grow in its long trend, Figure 1: http://s3.archive-host.com/membres/up/2107676425/20071026US1M2M1.gif... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Figures of employment in the United States and recession]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-12863761.html]]></link>
    <guid>https://chevallier.over-blog.net/article-12863761.html</guid>
    <pubDate>Fri, 05 Oct 2007 22:39:00 +0200</pubDate>
    <description><![CDATA[The figures of employment just published are misleading: they show a total increase in employment in September which occults the recession. * Indeed, 126,700 jobs were created in September (and also in August) in certain seasonal sectors like: accommodations... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Recessions in sight!]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-12849774.html]]></link>
    <guid>https://chevallier.over-blog.net/article-12849774.html</guid>
    <pubDate>Fri, 05 Oct 2007 12:42:00 +0200</pubDate>
    <description><![CDATA[Americans continue to increase their saving: M2-M1 increased at September 27 by 8.74% compared to the previous year, Graph 1: http://s3.archive-host.com/membres/up/2107676425/20071005US1M2M1FED.gif * They increase their saving because they anticipate... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Inflation becomes again normal]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-12686026.html]]></link>
    <guid>https://chevallier.over-blog.net/article-12686026.html</guid>
    <pubDate>Fri, 28 Sep 2007 19:14:00 +0200</pubDate>
    <description><![CDATA[Inflation becomes again normal in the United States: the PCE-PILFE returned in the standards, well installed under the bar of 2%. Graph 1: http://s3.archive-host.com/membres/up/2107676425/20070928US3PCE01.gif The PCE-PILFE of August increased by 1.76%... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[Save and target of the Fed]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-12678429.html]]></link>
    <guid>https://chevallier.over-blog.net/article-12678429.html</guid>
    <pubDate>Fri, 28 Sep 2007 15:12:00 +0200</pubDate>
    <description><![CDATA[M2-M1 continuous to increase at 8.64% (year-on-year) from September 10 to 17, which means that Americans increase their saving by decreasing their consumption. Graph 1: http://s3.archive-host.com/membres/up/2107676425/20070928US1M2M1.gif * As demand drops,... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
    </item>
                    <item>
    <title><![CDATA[1. Free supply money and growth]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-12570264.html]]></link>
    <guid>https://chevallier.over-blog.net/article-12570264.html</guid>
    <pubDate>Sun, 23 Sep 2007 18:52:00 +0200</pubDate>
    <description><![CDATA[Free supply money and growth: I I. M3 free supply money The variation of the real GDP growth rate is inversely proportional to that of the free money supply which is the difference between the increase of the money supply M3 in current data and (less)... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
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                    <item>
    <title><![CDATA[2. M2-M1 free supply money]]></title>
    <link><![CDATA[https://chevallier.over-blog.net/article-12570139.html]]></link>
    <guid>https://chevallier.over-blog.net/article-12570139.html</guid>
    <pubDate>Sun, 23 Sep 2007 18:48:00 +0200</pubDate>
    <description><![CDATA[Free supply money and growth: II II. M2-M1 free supply money The variation of the free money supply depends in fact (especially in the United States) on the variation on only one aggregate: M2-M1, i.e. of the saving of the households (placed on savings... ]]></description>
        <dc:creator><![CDATA[Jean-Pierre Chevallier]]></dc:creator>
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