Nobody remembers such a tumultuous economic environment like that of the last two years.
Yet, politicians, economists and analysts keep saying that the start of the new normality is around the corner : six months from now, or one year from now, or two years from now and so on. Everybody seems confident about it, but month after month the perspective of the new normality shifts forward.

Covid-19 caused sudden panic around the globe and all governments, still bleeding for the weak reaction to the shock of 2008, injected overnight more than 10.4 Trillion Dollars to keep the economy alive. The current economic exuberance is fueled by public debt and, while we cannot know how long it can last or if it might ever be compensated by inflation, we still know that it is hardly sustainable on the long run.