But this rally has been of short durationIt put the system at the service of employmentIt is far time curved neck and steal wordsA dream that in General is only a chimeraThe pole is now 75 members against 55 in 2007Producers are still poor when prices fallIf the principles are clear the reality is perhaps lessBeijing could consider worst case scenarioThe time is the controlled sophisticationThe global gas market became a buyer marketThe U.S. recovery will be long and painful, but it will bear its fruit. With persistent doubts about the timing of the resumption, Barack Obama sought yesterday restoring confidence to the Americans on the effects of its $ 787 billion stimulus plan. While acknowledging that "2009 remains a difficult year for the American economy", he relied on the existence of "signs of progress" on the front of credit to households and business financing. Even if these incentives were tempered by the publication of a recurrence of the March consumer index ( 1.1) by the Department of Commerce, it is the first US President to advance to slowdown the crisis signals.
"Unpopular choice".
"The one in the other, our action programmes recovery plan, the plan of recapitalization of banks, assistance to housing...." "are starting to generate signs of economic progress", Barack Obama launched yesterday in a speech on "The new Foundation" of the American economic model at the Georgetown University in Washington. In this non-conventional recession, caused by a "storm of irresponsibility", he recalled that the new administration has taken a number of measures unprecedented in less than three months. As a first positive signal, he referred to a resumption of the hiring in the area of clean energy and construction, "the cancellation of plans for redundancies in the sectors of education and the police", but also a beginning of "thawing" on student loans and auto credit markets. "For the first time in months, small business credit registers a rebound", he noted.
However, Barack Obama has not hidden that "the severity of the recession will still result in new job losses, more bankruptcies and difficulties before it terminates. He mentioned in particular future difficulties and the possibility of "unpopular choice" on the restructuring of the insurer AIG and GM and Chrysler motor groups. The relative optimism of the American President has been relayed, the same day, by the Federal Reserve (Fed) Chairman, Ben Bernanke, who yesterday mentioned the crossing of a "first step towards recovery". "Recently, we have seen timid signs that the rapid decline in economic activity may slow down, especially as regards sales of housing, construction, consumer spending, including the sales of new cars", he said on the grounds of a slowing down of the recession. Despite a decline in GDP of 6.3 in the last quarter of 2008, the Fed Chairman is even said he "basically optimistic" on the resumption of the US economy.
Under control
In his speech at Georgetown University, Barack Obama also engaged in a vigorous defence of its plan of "cleansing" of the banking sector. With the rise of the criticisms of many economists (Paul Krugman, Jeffrey Sachs, Joseph Stiglitz) on the effectiveness of the recovery plan of the toxic assets by a public-private partnership, he relied on the previous Japanese of the "lost decade of growth" to justify the activism of the Treasury. In addition, it clearly ruled against the solution of the "preventive nationalization" banks considered the most expensive to the taxpayer and the ability to restore confidence.
A way to indicate, despite the flat of the consumer, that the White House firmly keep the situation under control.
