Herald Tribune<\/em>), et il dit d\u00e9j\u00e0 beaucoup du propos.<\/p>\n<\/p>\n\tLe ton est celui du m\u00e9pris d\u00e9senchant\u00e9, pour cette direction politique impuissante, m\u00e9diocre, impr\u00e9par\u00e9e en tout, qui n’a rien vu venir et qui a improvis\u00e9 avec des bouts de ficelles et des centaines de $milliards un plan mirobolant dont nul ne sait comment il marchera, puisqu’il sera vot\u00e9 sans doute, aujourd’hui, par la Chambre, puisqu’on y a mis le prix en y attachant divers avantages qui doivent s\u00e9duire divers Repr\u00e9sentants dans leurs entreprises locales de r\u00e9\u00e9lection. Il nous para\u00eet \u00e9vident que l’interpr\u00e9tation de Krugman est la bonne, que le bailout<\/em>-miracle de Paulson n’a rien ni d’un complot, ni d’une formule magique, que c’est l’improvisation dans la trouille du d\u00e9sastre de quelques amateurs qui ne s’\u00e9taient jamais aventur\u00e9s \u00e0 concevoir que la direction d’un pays de la puissance des USA pouvait \u00eatre diff\u00e9rente de celle d’une grande banque d’investissement mang\u00e9e par les termites de service et assur\u00e9e de voir ses dettes r\u00e9gl\u00e9es par la puissance publique.<\/p>\n<\/p>\n\t\u00abHow bad is it? Normally sober people are sounding apocalyptic. On Thursday, the bond trader and blogger John Jansen declared that current conditions are the financial equivalent of the Reign of Terror during the French Revolution, while Joel Prakken of Macroeconomic Advisers says that the economy seems to be on the edge of the abyss.<\/em><\/p>\n<\/p>\n\t\u00bbAnd the people who should be steering us away from that abyss are out to lunch.<\/em><\/p>\n<\/p>\n\t\u00bbThe House will probably vote Friday on the latest version of the $700 billion bailout plan – originally the Paulson plan, then the Paulson-Dodd-Frank plan, and now, I guess, the Paulson-Dodd-Frank-Pork plan (it’s been larded up since the House rejected it on Monday). I hope that it passes, simply because we’re in the middle of a financial panic, and another no vote would make the panic even worse. But that’s just another way of saying that the economy is now hostage to the Treasury Department’s blunders.<\/em><\/p>\n<\/p>\n\t\u00bbFor the fact is that the plan on offer is a stinker – and inexcusably so. The financial system has been under severe stress for more than a year, and there should have been carefully thought-out contingency plans ready to roll out in case the markets melted down. Obviously, there weren’t: the Paulson plan was clearly drawn up in haste and confusion. And Treasury officials have yet to offer any clear explanation of how the plan is supposed to work, probably because they themselves have no idea what they’re doing.<\/em><\/p>\n<\/p>\n\t\u00bbDespite this, as I said, I hope the plan passes, because otherwise we’ll probably see even worse panic in the markets. But at best, the plan will buy some time to seek a real solution to the crisis. And that raises the question: Do we have that time?<\/em>\u00bb<\/p>\n<\/p>\n\tLe temps, effectivement… Krugman ne voit rien venir en fait de la possibilit\u00e9 d’une autorit\u00e9 et d’une direction politique avant fin janvier 2009; encore cela est-il d\u00e9pendant de qui sera \u00e9lu (on voit vers o\u00f9 penche Krugman). Mais d’ici fin janvier 2009, soit quatre mois? Rien, une administration en lambeaux, des dirigeants m\u00e9diocres et affol\u00e9s, un monde politique divis\u00e9, les remous de l’\u00e9lection, la possibilit\u00e9 d’une d\u00e9t\u00e9rioration extraordinairement rapide de la situation financi\u00e8re et \u00e9conomique, jusqu’\u00e0 la menace r\u00e9elle d’une perte de contr\u00f4le.<\/p>\n<\/p>\n
\tLe pr\u00e9c\u00e9dent qui vient \u00e0 l’esprit est particuli\u00e8rement accablant. (Et son souvenir va peser sur les psychologies pour encore plus aggraver la vision et la perception de tous.) C’est durant l’interr\u00e8gne entre les deux administrations Hoover et Roosevelt, entre novembre 1932 et mars 1933, que la situation atteignit aux USA la dimension d’une menace d’une compl\u00e8te d\u00e9sint\u00e9gration du pays, que la Grande D\u00e9pression atteignit son paroxysme de puissance d\u00e9structurante. La p\u00e9riode fut si terrible et laissa un si terrible souvenir que, d\u00e8s qu’un certain ordre eut \u00e9t\u00e9 r\u00e9tabli apr\u00e8s les d\u00e9buts de l’administration Roosevelt, le Congr\u00e8s vota un amendement \u00e0 la Constitution pour r\u00e9duire le d\u00e9lai entre l’\u00e9lection et la prise de fonction (de novembre-mars \u00e0 novembre-janvier). Il aurait fait bien plus court s’il avait connu GW.<\/p>\n<\/p>\n
<\/p>\n
\tMis en ligne le 3 octobre 2008 \u00e0 17H54<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
Le chroniqueur de New York Times et professeur d’\u00e9conomie Paul Krugman nous donne une chronique qui synth\u00e9tise bien la crise financi\u00e8re en lui donnant la dimension qui lui sied, qui est sa dimension politique par d\u00e9faut, par l’absence de pouvoir, d’autorit\u00e9. Son titre est \u00abA leadership vacuum\u00bb (le 3 octobre dans l’International Herald Tribune), et… <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[3285,6384,2631,3083,2891,898,7439],"class_list":["post-70249","post","type-post","status-publish","format-standard","hentry","category-bloc-notes","tag-congres","tag-controle","tag-de","tag-depression","tag-grande","tag-krugman","tag-perte"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/posts\/70249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/comments?post=70249"}],"version-history":[{"count":0,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/posts\/70249\/revisions"}],"wp:attachment":[{"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/media?parent=70249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/categories?post=70249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.dedefensa.org\/index.php\/wp-json\/wp\/v2\/tags?post=70249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}