{"id":10986,"date":"2012-01-29T11:54:41","date_gmt":"2012-01-29T09:54:41","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=10986"},"modified":"2012-01-30T11:54:57","modified_gmt":"2012-01-30T09:54:57","slug":"abdde-para-politikasi-ve-siyaset","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/abdde-para-politikasi-ve-siyaset\/","title":{"rendered":"ABD\u2019de Para Politikas\u0131 ve Siyaset"},"content":{"rendered":"<p>K\u00fcresel mali piyasalar haftay\u0131 dalgal\u0131 ama genelde iyi ge\u00e7irdi. \u00d6rne\u011fin New York iki y\u0131l\u0131n zirvesinde dola\u015f\u0131yor. Euro B\u00f6lgesi\u2019nde sadece Alman borsas\u0131 (DAX) y\u00fckseldi. Euroda toparlanma s\u00fcrd\u00fc. Parite 1.32\u2019yi g\u00f6rd\u00fc.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-3536623215\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"9580705384\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>Bu arada TL g\u00fc\u00e7lenmeye devam ediyor. Y\u0131lba\u015f\u0131nda 2.20 TL\u2019de ancak Merkez Bankas\u0131\u2019n\u0131n yo\u011fun d\u00f6viz sat\u0131\u015f\u0131 ile tutunan d\u00f6viz sepeti 2.05 TL\u2019ye geriledi. 2.00 TL\u2019yi g\u00f6rmesi ihtimali belirdi.<\/p>\n<p>Reel kesim g\u00fcven endeksi ve kapasite kullan\u0131m\u0131 Ocak sonu\u00e7lar\u0131 yay\u0131nland\u0131. Say\u0131lar \u201cyumu\u015fak ini\u015f\u201d senaryosu ile tutarl\u0131 duruyor. \u00dcretim ve talepte \u0131l\u0131ml\u0131 yava\u015flamaya i\u015faret ediyor.<\/p>\n<p>Bu hafta veri a\u00e7\u0131s\u0131ndan \u00e7ok zengin. Aral\u0131k d\u0131\u015f ticareti, Ocak ihracat\u0131 ve enflasyonu a\u00e7\u0131klan\u0131yor. Merkez Bankas\u0131 y\u0131l\u0131n ilk enflasyon raporunu ilk kez \u0130stanbul\u2019da bir toplant\u0131 ile tan\u0131t\u0131yor.<\/p>\n<p>Davos\u2019a iki \u00e7ift laf edelim. Ba\u015ftan itibaren zengin ve g\u00fc\u00e7l\u00fclerin panay\u0131r\u0131 dedim. \u0130\u00e7eri\u011finin s\u0131\u011fl\u0131\u011f\u0131 \u00e7ok belirgindi. Krizle iyice anlams\u0131zla\u015ft\u0131. Magazin programlar\u0131na d\u00f6n\u00fc\u015ft\u00fc. Neyse, alan-satan memnun; ciddiye al\u0131nmad\u0131\u011f\u0131 s\u00fcrece mahzuru yoktur.<\/p>\n<p><strong>Fed\u2019in yeni hamlesi<\/strong><\/p>\n<p>Ge\u00e7ti\u011fimiz hafta Amerikan para politikas\u0131nda tarihi bir olay ya\u015fand\u0131. S\u00fcrpriz de\u011fildi; \u00e7\u00fcnk\u00fc gelece\u011fi zaten davul-zurna ile duyurulmu\u015ftu. \u201cMalumu ilan\u201d s\u0131n\u0131f\u0131na giriyor. Gene de ilgimizi \u00e7ekti.<\/p>\n<p>Fed ne yapt\u0131? Mali piyasalara likidite bollu\u011funun devam edece\u011fine ek garanti verdi. Kriz sonras\u0131nda devreye soktu\u011fu bedava para politikas\u0131n\u0131n (yani s\u0131f\u0131r faizin) en az iki y\u0131l daha s\u00fcrece\u011fini taahh\u00fct etti. Bernanke ve ekibi, faizi bug\u00fcnk\u00fc y\u00fczde 0.25 d\u00fczeyinde 2013\u2019e kadar sabitledi\u011fini daha \u00f6nce a\u00e7\u0131klam\u0131\u015ft\u0131. D\u00fc\u015f\u00fck faiz d\u00f6nemini uzatt\u0131. Faiz art\u0131\u015f\u0131n\u0131 2014 sonuna, belki daha ileriye att\u0131.Nas\u0131l yapt\u0131? Kullan\u0131lan y\u00f6ntem medyaya yans\u0131d\u0131. Fed tarihinde ilk kez faiz karar\u0131n\u0131 veren komitenin gelecek d\u00f6nem faizleri i\u00e7in oylama sonu\u00e7lar\u0131 kamuoyu ile payla\u015f\u0131ld\u0131. K\u0131l\u0131f\u0131n\u0131 \u015feffafl\u0131k ve hesap verilebilirlik ilkeleri ile dikti. Karar sonras\u0131nda mali piyasalar\u0131n sevin\u00e7 \u00e7\u0131\u011fl\u0131klar\u0131 T\u00fcrkiye\u2019den bile duyuldu. Anlay\u0131\u015fla kar\u015f\u0131lanmal\u0131d\u0131r. Dolar likiditesinin en az \u00fc\u00e7 y\u0131l daha hem bol hem bedava tutulaca\u011f\u0131 garantisini ald\u0131lar. Siz olsan\u0131z sevinmez misiniz?<\/p><div class=\"bilge-content-1\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-1956688398\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"3167340272\"\r\n     data-ad-format=\"rectangle\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p><strong>Fed ba\u011f\u0131ms\u0131z m\u0131?<\/strong><\/p>\n<p>Halbuki ABD ekonomisinin g\u00f6stergeleri genelde iyi geliyor. \u00d6rne\u011fin IMF\u2019in son g\u00fcncellemesinde 2012\u2019de b\u00fcy\u00fcme oran\u0131 d\u00fc\u015fmeyen tek \u00fclke ABD. Ona ra\u011fmen Fed b\u00f6ylesine radikal bir karar al\u0131yor.<\/p>\n<p>\u00dcnl\u00fc \u00f6zdeyi\u015fi hat\u0131rlad\u0131m: \u201cBayram de\u011fil, seyran de\u011fil, eni\u015ftem beni neden \u00f6pt\u00fc?\u201d Cevab\u0131 Bill Clinton\u2019un se\u00e7im slogan\u0131n\u0131 tersine \u00e7evirmekte yat\u0131yor: \u201cIt\u2019s politics; stupid!\u201d (Siyasete bak, aptal). Evet, bu y\u0131l ABD\u2019de fevkalade kritik bir ba\u015fkanl\u0131k se\u00e7imi var. Bug\u00fcnden Kas\u0131m\u2019a ekonomide k\u00fc\u00e7\u00fck bir t\u00f6kezleme bile Obama\u2019y\u0131 peri\u015fan eder. Velhas\u0131l konu ba\u015fkanl\u0131k se\u00e7imi olunca Fed\u2019in ba\u011f\u0131ms\u0131zl\u0131\u011f\u0131 hemen unutulur. \u0130\u015fin \u00f6z\u00fc budur; bir kenara yaz\u0131n derim.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>K\u00fcresel mali piyasalar haftay\u0131 dalgal\u0131 ama genelde iyi ge\u00e7irdi. \u00d6rne\u011fin New York iki y\u0131l\u0131n zirvesinde dola\u015f\u0131yor. Euro B\u00f6lgesi\u2019nde sadece Alman borsas\u0131 (DAX) y\u00fckseldi. Euroda toparlanma&hellip;<\/p>\n","protected":false},"author":13,"featured_media":919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10986","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tumyazilar"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/10986","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=10986"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/10986\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/919"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=10986"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=10986"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=10986"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}