{"id":47101,"date":"2016-10-05T21:38:51","date_gmt":"2016-10-05T18:38:51","guid":{"rendered":"https:\/\/www.bilgeyatirimci.com\/?p=47101"},"modified":"2016-10-05T21:38:51","modified_gmt":"2016-10-05T18:38:51","slug":"cetin-unsalan-batsin-bu-reel-sektor","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/cetin-unsalan-batsin-bu-reel-sektor\/","title":{"rendered":"\u00c7etin \u00dcnsalan &#8211; Bats\u0131n bu reel sekt\u00f6r  \u00a0"},"content":{"rendered":"<p><em><strong>D\u00fcnyada T\u00fcrkiye\u2019yi inceleyen tarafl\u0131 tarafs\u0131z kurulu\u015flar\u0131n uzun zamand\u0131r dikkat \u00e7ekti\u011fi bir konu var: \u00d6zel sekt\u00f6r bor\u00e7lar\u0131\u2026 Esasen T\u00fcrkiye\u2019yi de en k\u0131r\u0131lgan hale getiren \u00f6nemli unsurlardan biri bu.<\/strong><\/em><\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-3576636549\"><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>IMF\u2019nin Mali Monit\u00f6r Raporu\u2019nda, sorunun d\u00fcnya genelinde de oldu\u011fu g\u00f6zleniyor. Global borcun i\u00e7inde, \u00f6zel sekt\u00f6r\u00fcn borcu, en \u00f6nemli risklerden birini olu\u015fturuyor. D\u00fcnya \u00e7ap\u0131nda yarat\u0131lan gelirin y\u00fczde 225\u2019inin \u00f6zel sekt\u00f6r bor\u00e7lar\u0131ndan te\u015fekk\u00fcl oldu\u011fu belirtiliyor. Toplam k\u00fcresel bor\u00e7 ne kadar? 152 trilyon dolar ve artmaya da devam ediyor.<\/p>\n<p>Burada dikkat \u00e7ekilmesi gereken bir iki husus var. Bunlardan birincisi IMF\u2019nin bu raporuyla \u00f6zel sekt\u00f6r\u00fcn reel kesimine dikkatleri \u00e7ekti\u011fi. Kabul edilmeli ki reel sekt\u00f6r \u00e7ok g\u00fc\u00e7 g\u00fcnler ya\u015f\u0131yor ama, \u00f6zel sekt\u00f6r\u00fcn mali kesiminin bundan daha b\u00fcy\u00fck bir risk alt\u0131nda oldu\u011fu ve pozisyon a\u00e7\u0131klar\u0131 bulundu\u011fu dile getirilmiyor.<\/p>\n<p>D\u00fcnya ekonomisindeki k\u00e2\u011f\u0131tlar \u00fczerinden ya\u015fanan varl\u0131k balonu, bat\u0131k devlet tahvilleri, reel sekt\u00f6r\u00fcn a\u011f\u0131rl\u0131k bor\u00e7lu oldu\u011fu kesim olan finans piyasalar\u0131 \u00e7ok mu normal durumda? Oraya dokunmayal\u0131m? Niye? \u00c7\u00fcnk\u00fc patlamaya haz\u0131r bir bomba gibi ortada duruyor. Ya\u015fanacak krizi adreslendirmek laz\u0131m.<\/p>\n<p>2008 krizinde ortaya \u00e7\u0131kmad\u0131 m\u0131 hedge fonlar \u00fczerinden yap\u0131lan soygun ve zehirlenme. Dev uluslararas\u0131 \u015firketlerin bile, ayn\u0131 isimle ikinci bir firma kurdu\u011fu, faaliyetten elde ettikleri gelirleri burada de\u011ferlendirdi\u011fi ve krizin ortaya \u00e7\u0131kmas\u0131yla birlikte hepsinin bat\u0131k hale geldi\u011fi ve kurtar\u0131lmak zorunda kald\u0131\u011f\u0131n\u0131 niye s\u00f6ylemiyorsunuz? Bu bildi\u011finiz ikiy\u00fczl\u00fcl\u00fckt\u00fcr.<\/p>\n<p>Bizde ise durum buradan kaynakl\u0131 da olsa daha farkl\u0131\u2026 T\u00fcrev piyasa yelpazesinin, d\u00fcnyaya oranla dar oldu\u011fu T\u00fcrkiye gibi \u00fclkelerde, reel sekt\u00f6r\u00fcn durumu ger\u00e7ekten a\u00e7mazlarla dolu. Fakat yine ayn\u0131 \u00e7er\u00e7evede olay\u0131 de\u011ferlendirirsek, \u00f6zel sekt\u00f6r\u00fcn finans kesiminin s\u0131k\u0131nt\u0131s\u0131, reel sekt\u00f6r\u00fcn ya\u015fad\u0131\u011f\u0131ndan kat be kat fazla.<\/p>\n<p>Bunun en g\u00fczel sa\u011flamas\u0131n\u0131 2016 y\u0131l\u0131 i\u00e7in yap\u0131lmas\u0131 gereken k\u0131sa vadeli i\u00e7 bor\u00e7 da\u011f\u0131l\u0131m\u0131ndan anlayabiliriz. Bilgiyi veren EGD\u2019nin 12. Kaptepe Ekonomi Zirvesi\u2019nde konu\u015fan TOBB Ba\u015fkan\u0131 Hisarc\u0131kl\u0131o\u011flu\u2026<\/p>\n<p>K\u0131sa vadeli bor\u00e7 miktar\u0131n\u0131n 5 milyar dolar\u0131n\u0131 kamu, 59 milyar dolar\u0131n\u0131 da reel sekt\u00f6r \u00f6deyecek. \u00d6zel sekt\u00f6r\u00fcn mali kesiminin y\u00fck\u00fcml\u00fc\u011f\u00fc ise 108 milyar dolar. Bak\u0131n daha 35 milyar dolarl\u0131k cari a\u00e7\u0131k finansman ihtiyac\u0131 ortada yok bile\u2026 Sadece bu da\u011f\u0131l\u0131m bile \u00f6zel kesimin i\u00e7inde bankac\u0131l\u0131k ve finans kesiminin riskinin iki kat\u0131 fazla oldu\u011funu ortaya koyuyor.<\/p><div class=\"bilge-content-1\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-3854994578\"><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>\u00d6nem verilmesi gereken k\u0131s\u0131m niye reel sekt\u00f6r? \u00c7\u00fcnk\u00fc buradaki borcun hat\u0131r\u0131 say\u0131l\u0131r bir k\u0131sm\u0131 da bankac\u0131l\u0131k sekt\u00f6r\u00fcn\u00fcn verdi\u011fi teminatla yurtd\u0131\u015f\u0131ndan elde edilmi\u015f.\u00a0 Bir zamanlar \u2018kamunun borcunun az olmas\u0131 anlam ifade etmiyor; hepsi T\u00fcrkiye\u2019nin borcudur\u2019 dedi\u011fimizde, kapal\u0131 kap\u0131lar ard\u0131nda \u2018batan bats\u0131n\u2019 diyenlerin, \u015fimdi \u00fcretim diye \u00e7\u0131rp\u0131nmas\u0131 konuyu anlamaya ba\u015flad\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Biraz ge\u00e7 kal\u0131nm\u0131\u015f olsa da\u2026<\/p>\n<p>Demek ki neymi\u015f? Bats\u0131n bu reel sekt\u00f6r deyip i\u015fin i\u00e7inden s\u0131yr\u0131lmak m\u00fcmk\u00fcn de\u011filmi\u015f. \u00dcstelik buradaki bat\u0131\u015f\u0131n sadece finansal sonu\u00e7lar\u0131 olmayacakt\u0131r. \u0130\u015fsizlikten \u00f6demeler zincirinin k\u0131r\u0131lmas\u0131na kadar bir dizi sorunu da beraberinde getirecektir. Bu nedenle reel sekt\u00f6re g\u00f6z\u00fcm\u00fcz gibi bakmal\u0131y\u0131z.<\/p>\n<p>Ama ne yaz\u0131k ki halen, t\u00fcm s\u00f6ylemin aksine kurgu finans kesimindekilerin can\u0131n\u0131n yanmamas\u0131 \u00fczerine y\u00fcr\u00fcyor. Hatta idare, reel sekt\u00f6r ve bankalar batsa da, kamu b\u00fct\u00e7esine bir \u015fey olmayaca\u011f\u0131na inan\u0131yor.<\/p>\n<p>Bor\u00e7 Bakkal Hasan\u2019a olsa, borcu yapan \u00f6desin. Ama yurtd\u0131\u015f\u0131ndan gelen her kuru\u015f belli teminatlarla geliyor ve reel sekt\u00f6r \u00f6demezse bankalara, bankalar \u00f6demezse de devlet g\u00fcvencesi nedeniyle kamuya kalaca\u011f\u0131 a\u00e7\u0131k. T\u00fcrkiye\u2019nin vakit kaybetmeden bu sorunu masaya yat\u0131rmas\u0131 gerekiyor.<\/p><div class=\"bilge-content-2\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-2856331276\"><ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-7495567325667578\"\r\n     data-ad-slot=\"1818807385\"\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>IMF\u2019nin raporuna ve y\u0131llard\u0131r bu do\u011frultuda iddialarda bulunan ekonomi y\u00f6netimine gelirsek \u015funu s\u00f6ylemek laz\u0131m. Birincisi reel sekt\u00f6r\u00fcn bor\u00e7lar\u0131 elbette \u00f6nemli\u2026 Ama bunun kat be kat fazlas\u0131 ve d\u00f6nd\u00fcr\u00fclmekte zorlanmaya neden olan mali kesimin bor\u00e7lar\u0131.<\/p>\n<p>Bu kesimin borcunu ve kumar ekonomisiyle yarat\u0131lan emlak ba\u015fta olmak \u00fczere balonlar\u0131 gizlemek i\u00e7in \u00e7aba harcamay\u0131n. Filmin sonunda hepsi T\u00fcrkiye\u2019nin borcu olacak. Bu nedenle finans\u00e7\u0131 s\u00f6ylemleri b\u0131rak\u0131p, bir an \u00f6nce sorunu kabul ederek \u00e7\u00f6z\u00fcm yollar\u0131 aray\u0131n.<\/p>\n<p>Yoksa bu i\u015fler ekran kar\u015f\u0131s\u0131nda \u2018KOB\u0130\u2019 diye masallar anlat\u0131p, kuliste soruldu\u011funda \u2018batan bats\u0131n, bana ne\u2019 demekle \u00e7\u00f6z\u00fclm\u00fcyor. En az\u0131ndan bunu anlam\u0131\u015f\u0131n\u0131zd\u0131r umar\u0131m.<\/p>\n<p><a href=\"mailto:cetinunsalan@yahoo.com\">cetinunsalan@yahoo.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>D\u00fcnyada T\u00fcrkiye\u2019yi inceleyen tarafl\u0131 tarafs\u0131z kurulu\u015flar\u0131n uzun zamand\u0131r dikkat \u00e7ekti\u011fi bir konu var: \u00d6zel sekt\u00f6r bor\u00e7lar\u0131\u2026 Esasen T\u00fcrkiye\u2019yi de en k\u0131r\u0131lgan hale getiren \u00f6nemli unsurlardan&hellip;<\/p>\n","protected":false},"author":5,"featured_media":0,"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":[904,808,801],"class_list":["post-47101","post","type-post","status-publish","format-standard","hentry","category-tumyazilar","tag-cetin-unsalan-yazilari","tag-ekonomi-makaleleri","tag-ekonomi-yazarlari-listesi"],"_links":{"self":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/47101","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\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=47101"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/47101\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=47101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=47101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=47101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}