Keynes bat l’austérité par KO

Les statistiques tombent et on voit clairement maintenant que les Etats-Unis sont entrain de se sortir de la crise alors que l’Europe s’y enlise. Les Us ont décidé de continuer d’imprimer des billets, et de financer l’économie en augmentant leurs déficits et ayant en plan de les réduire en augmentant les taxes une fois l’économie auto alimenté alors que l’Europe elle a choisie la voie de l’austérité pour réduire les déficit dans une économie en récession.

Les graphiques parlent d’eux mêmes.

“The United States, on the other hand, has been running steady 10% budget deficits throughout the last 3 years – there has been no real austerity.  This has helped the private sector de-leverage without crushing economic growth.  I’ve maintained an unpopular position over the last few quarters that the USA would “muddle through” as opposed to falling into recession.  This position has been based on my idea of a continuing balance sheet recession in the USA combined with a government that, despite its inability to agree on most things, has not torpedoed the economy via austerity.”

“Until recently, that is. As the chart on the right shows, the recent crop of crises among countries on the periphery of the eurozone – most dramatically Greece, but also Ireland, Portugal, Spain and Italy – has caused industrial production to plunge in the eurozone as a whole. Ironically, at the same time, the same data in the United States has rebounded, helping to fuel confidence in the US economy and fueling the recent stock market rally. So, on a relative basis, the U.S. economy looks particularly robust, while the modest gains reported by France and a small slide in growth announced by Germany have been more than offset by the economic slump on the part of the eurozone’s laggards.”

source : reuters