With $ 20 trillion, Edouard Tétreau offers a dive into the American financial universe
Starting in 2007 to develop a subsidiary of the Axa group, the author spent three years in the United States and gives an uncompromising testimony.
By 2020, the US debt should, at the very least, reach $ 20 trillion. What if the United States drew a line without paying it back? This is the thesis of Edouard Tetreau, a former financial analyst during the crazy Internet years and today consulting in financial strategy and communication.
Although this eventuality may be difficult to envision, it may need to be taken seriously. In 2000, then an analyst at Crédit Lyonnais, Edouard Tetreau was he not the first to write a note entitled “Alert on European media values: take your e-profits before a possible crash”. Two years later, he wrote a memo about Vivendi Universal in which he spoke of mismanagement and possible scenarios, from the stock market raid to the outright disembarkation of CEO Jean-Marie Messier.
His previous book, Analyst: The Heart of Financial Madness (Grasset, 2005) was an uncompromising dive into the financial markets. His new delivery relates his three years in the United States. Three years during which Edouard Tétreau, who left in 2007 to develop a subsidiary of the Axa group, took the opportunity to travel around the United States. From north to south, from east to west through the center. With one goal: to consolidate payday loans paradebyaandbe.com/2017/11/30/boost-your-cold-calling-leads-to-commercial-real-estate/.
Often funny, squeaky, candid sometimes. $ 20 trillion. Chronicle of American madness is a journey into the heart of excesses: excess of money ($ 56 trillion in wealth, about the GDP of the world), food (100 million obese, including one child in six) , of religion (30% believe word for word what is written in the Bible), weapons (250 million) or of each one for himself pushed to the extreme (in 46 of the 50 states, the legal concept of assistance to a person in danger does not exist) … But, at the end of this trip, Edouard Tétreau arrived at an unequivocal conclusion: the United States will not repay their debt.
“20 000 billion expected for 2020, it’s a century of wages for the whole public service!” Not to mention the $ 56 trillion of unfunded pension liabilities. Edouard Tétreau calls it “the magic slate”. “Every ticket issued by the Federal Reserve has” the force of liberation for any form of public or private debt, “he says. There is only to print money, and “America will have paid all its debts (…) effortlessly no”. But by charging the bill to the world. An apocalyptic scenario, extreme, that would lead to the bankruptcy of the planet. The financial crisis of 2008: a trifle, in comparison.
At the beginning of his journey, Edward Tetreau had almost buried America and thought to title his book: “Here lies the United States of America, 1776-2008”. Wrongly. America, the main culprit of this crisis, “has left again more beautiful”. As if nothing had happened. “Its demographics and democratic vitality, its ability to innovate and renew itself were intact.” Edouard Tetreau is at once frightened by this exaggerated egocentricity and amazed by this faculty to be reborn incessantly, what he calls the “can do attitude”. The “motto” of the United States is eight letters: just do it!