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	<title>growth &#8211; RFR</title>
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	<description>GLOBAL MACRO AND THEMATIC INDEPENDENT RESEARCH</description>
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	<title>growth &#8211; RFR</title>
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		<title>So the era of low interest rates will soon be over, right?</title>
		<link>https://richesflores.com/2018/01/22/so-the-era-of-low-interest-rates-will-soon-be-over-right/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Mon, 22 Jan 2018 14:38:43 +0000</pubDate>
				<category><![CDATA[Commodities]]></category>
		<category><![CDATA[Inflation]]></category>
		<category><![CDATA[WEEKLY]]></category>
		<category><![CDATA[BOC]]></category>
		<category><![CDATA[bonds markets]]></category>
		<category><![CDATA[ECB]]></category>
		<category><![CDATA[FED]]></category>
		<category><![CDATA[fiscal reform]]></category>
		<category><![CDATA[growth]]></category>
		<category><![CDATA[hurricanes]]></category>
		<category><![CDATA[Monetary Policy]]></category>
		<category><![CDATA[Oil Price]]></category>
		<category><![CDATA[Real Estate]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=9294</guid>

					<description><![CDATA[Trends in the financial markets have accelerated in the last few days....]]></description>
		
		
		
			</item>
		<item>
		<title>2018 Outlook – Welcome to Annapurna</title>
		<link>https://richesflores.com/2017/12/19/2018-outlook-welcome-to-annapurna/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Tue, 19 Dec 2017 15:11:01 +0000</pubDate>
				<category><![CDATA[FORECASTS]]></category>
		<category><![CDATA[Inflation]]></category>
		<category><![CDATA[WEEKLY]]></category>
		<category><![CDATA[Exchange Rate]]></category>
		<category><![CDATA[financial markets]]></category>
		<category><![CDATA[forecasts]]></category>
		<category><![CDATA[growth]]></category>
		<category><![CDATA[Interest Rates]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=9183</guid>

					<description><![CDATA[Summary &#8211; Current economic trends seem particularly favorable, but after taking a...]]></description>
		
		
		
			</item>
		<item>
		<title>The U.S. Economy: Far Too Early to Break Out the Champagne</title>
		<link>https://richesflores.com/2013/09/16/the-u-s-economy-far-too-early-to-break-out-the-champagne/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Mon, 16 Sep 2013 13:57:17 +0000</pubDate>
				<category><![CDATA[IN CHARTS]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[growth]]></category>
		<category><![CDATA[Investment]]></category>
		<category><![CDATA[Spending]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=2174</guid>

					<description><![CDATA[That markets are wildly optimistic about the U.S. economy is nothing new. What should draw our attention this time around is that such upbeat sentiment has rarely been harder to square with the numbers. For example, contrary to the dominant narrative: 

The U.S. economy is doing worse than a few months ago, not better. Growth in industrial output is petering out, productivity has moved into negative territory, and employment data point to backsliding. 
The economy’s ability to cope with higher interest rates simply can’t be taken for granted. Not only has consumer spending yet to pick up, but the real estate market has been derailed by the rise in interest rates since the start of the year]]></description>
		
		
		
			</item>
		<item>
		<title>World Growth Monitor</title>
		<link>https://richesflores.com/2013/08/23/world-growth-monitor/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Fri, 23 Aug 2013 07:38:12 +0000</pubDate>
				<category><![CDATA[Emerging]]></category>
		<category><![CDATA[Global Trends]]></category>
		<category><![CDATA[IN CHARTS]]></category>
		<category><![CDATA[emerging countries]]></category>
		<category><![CDATA[growth]]></category>
		<category><![CDATA[recovery]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=2011</guid>

					<description><![CDATA[Going it alone. The global economic picture is unquestionably looking brighter. Unlike previous recoveries, however, this one is fueled above all by consumer spending. The trend is especially noteworthy in Europe now that austerity policies have been scrapped. But it can also be observed in the United States—since the country has steered clear of the fiscal cliff dangers at the start of the year—and Japan, where the Abe administration’s first moves have lifted the spirits of local consumers.  Even in China, sustained consumer spending is what has offset the negative impact of an end to export support. So on the whole, the environment is more encouraging. Yet the missing ingredient here is what proved to be one of the key drivers of global growth in the 1990s—world trade. This has two main implications]]></description>
		
		
		
			</item>
		<item>
		<title>France–Germany: Comparing 20 Years of Economic History</title>
		<link>https://richesflores.com/2013/05/30/france-germany-comparing-20-years-of-economic-history/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Thu, 30 May 2013 13:31:57 +0000</pubDate>
				<category><![CDATA[Countries/Regions]]></category>
		<category><![CDATA[Euro zone]]></category>
		<category><![CDATA[France]]></category>
		<category><![CDATA[Germany]]></category>
		<category><![CDATA[IN CHARTS]]></category>
		<category><![CDATA[Unclassified]]></category>
		<category><![CDATA[Debt]]></category>
		<category><![CDATA[Demography]]></category>
		<category><![CDATA[Employment]]></category>
		<category><![CDATA[Exports]]></category>
		<category><![CDATA[Foreign Trade]]></category>
		<category><![CDATA[growth]]></category>
		<category><![CDATA[Real Estate]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=1703</guid>

					<description><![CDATA[Like all crises, the present one provides a fertile breeding ground for dogmatic, cookie-cutter statements and clichés that don’t always square with reality. So perhaps the best way to avoid making disastrous decisions on the momentous issues of today is to take a good, hard look at our past. This view was what prompted us to publish the following series of charts, which sum up twenty years of comparative economic history in France and Germany. 
Growth, consumption, employment, real estate, debt, demographics, and foreign trade are the themes we have covered here, in the hope of offering the reader greater insight into the forces at work in the euro area’s two leading economies.
]]></description>
		
		
		
			</item>
		<item>
		<title>Our 2013–2014 Scenario: A Situation Under Control</title>
		<link>https://richesflores.com/2013/01/15/our-2013-2014-scenario-a-situation-under-control/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Tue, 15 Jan 2013 10:04:17 +0000</pubDate>
				<category><![CDATA[FORECASTS]]></category>
		<category><![CDATA[GLOBAL MACRO]]></category>
		<category><![CDATA[Global Trends]]></category>
		<category><![CDATA[emerging countries]]></category>
		<category><![CDATA[forecasts]]></category>
		<category><![CDATA[GDP]]></category>
		<category><![CDATA[growth]]></category>
		<category><![CDATA[scenario]]></category>
		<guid isPermaLink="false">https://richesflores.com/?p=1533</guid>

					<description><![CDATA[In 2013, government budget deficits will show little change compared with 2012, and national debt will once again increase substantially in the vast majority of developed countries. Real Eurozone GDP will shrink for the second year in a row, U.S. output should grow a bit more slowly than this past year, and the expansion of the Chinese economy—just over 8 percent—will be due entirely to the catch-up process under way. From this standpoint, the new year will bear a strong resemblance to the previous one. In fact, global growth is unlikely to exceed the 3.2 percent figure forecast for 2012, and may even be slightly lower. But the sentiment arising from what are otherwise similar data is markedly different today than six months ago. ]]></description>
		
		
		
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