Le facteur temps et les marchés mondiaux

BARCELONE – Depuis quelques mois, la dichotomie entre d'un coté des économies qui tournent au ralenti et des dysfonctionnements politiques, et de l'autre le boom des marchés financiers s'élargit. Cependant on néglige un facteur critique : le temps, et qui en a la maîtrise - un paramètre qui pourrait faire la différence entre une résolution globale et ordonnée des incohérences politiques et économiques qui vont en augmentant et le retour à une période de grand désordre.

Comme on pouvait s'y attendre, les marchés ont retrouvé leur vigueur au cours du premier trimestre 2013. La plupart des chiffres confirment qu'après le traumatisme lié à la crise financière mondiale, l'économie américaine se redresse rapidement.

Le scénario est maintenant bien connu. Tout d'abord, de grosses multinationales ont retrouvé une solide assise financière, les banques ont reconstitué leurs réserves en capital et réduit le volume de leurs actifs douteux, le secteur immobilier s'est stabilisé, les entreprises de moindre envergure se redressent peu à peu et de plus en plus de ménages sont en voie de rééquilibrer leur budget, notamment du fait de la diminution progressive du chômage.

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