L'économie américaine : état des lieux

CAMBRIDGE (USA) – Alors que nous sommes à moins de deux mois de l'élection présidentielle américaine, tous les regards se tournent vers l'économie américaine et les problèmes qu'elle posera au prochain président.

Nous sommes au milieu d'une crise financière due à de grosses erreurs d'évaluation des risques et à l'éclatement de la bulle de l'immobilier qui s'est formée durant la première partie de la décennie. Ce qui était au début un problème de crédit immobilier à haut risque s'est maintenant étendu à l'ensemble du marché immobilier et aux autres classes d'actifs.  Les problèmes dans l'immobilier ont contribué à la crise financière, qui elle-même entraîne une restriction du crédit nécessaire au maintien de l'activité économique.

La crise financière s'est aggravé au cours des dernières semaines, ce  qui a conduit la Réserve fédérale américaine à mettre sous tutelle les agences de refinancement hypothécaire Fannie Mae et Freddie Mac, des organismes quasi-nationalisés - ce qui pourrait coûter des centaines de milliards de dollars aux contribuables américains. Et il faut rajouter à cela la banqueroute de Lehman Brothers et la vente de Merrill Lynch. Ces naufrages financiers traduisent la spirale descendante des prix de l'immobilier et le nombre croissant d'habitations dont la valeur sur le marché est devenue inférieure au prêt contracté pour la payer.

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