Anatomie d'une crise financière

NEW YORK – L'économie américaine est prisonnière d'un cercle vicieux qui pourrait s'étendre à toute la planète. La crise financière qui touche les USA a déclenché un fort resserrement du crédit qui aggrave la récession dans ce pays, entraînant des pertes importantes sur les marchés financiers, ce qui frappe toute l'économie. L'éclatement de l'énorme bulle du crédit et des actifs pourrait maintenant provoquer un effondrement systémique des marchés financiers américains. 

Le problème n'est plus simplement celui de prêts immobiliers à haut risque, mais celui d'un système financier à haut risque. La récession de l'immobilier - la pire de l'histoire des USA et elle s'aggrave chaque jour – va entraîner une chute des prix de plus de 20% dans ce secteur, et des millions d'Américains vont perdre leur habitation. Les défauts de payement et les saisies s'étendent maintenant des prêts à haut risque à tous les autres. Aussi, la perte totale touchant les instruments liés aux prêts immobiliers – dont les crédits dérivés tels que les dettes obligataires (CDO) – va dépasser 400 milliards de dollars.

D'autre part, l'immobilier commercial tend maintenant à suivre l'immobilier résidentiel dans sa chute. Qui veut construire des bureaux, des magasins ou des centres commerciaux dans les villes fantômes qui parsèment l'Ouest américain ?

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