Le chemin difficile vers la reprise

NEW-YORK –Tout le monde reconnaît maintenant que la récession américaine qui dure depuis déjà un an sera probablement grave et longue et que presque tous les pays seront touchés. J'ai toujours pensé que l'idée selon laquelle ce qui se passe en Amérique puisse être sans conséquence sur le reste du reste du monde était un mythe. La réalité ne fait que le confirmer.

Heureusement, l'Amérique va au moins avoir un président qui a une certaine compréhension de la nature et de la gravité du problème et qui s'est engagé en faveur d'un programme important de stimulation économique. Ceci, joint à une action concernée des autres pays, devrait permettre d'amortir les conséquences de la crise.

La Réserve fédérale américaine, en partie à l'origine des problèmes en raison d'un excès de liquidité et d'une réglementation insuffisante, essaie de faire amende honorable en inondant le marché de liquidités, ce qui dans le meilleur des cas empêche l'aggravation de la situation. Il n'est guère surprenant que ceux qui ont une responsabilité dans la situation actuelle et n'ont pas vu le désastre arriver ne soient pas les mieux placés pour y faire face. Pour l'instant, la dynamique de la crise est en place et la situation est appelée à s'aggraver encore avant la reprise.

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