{"id":4951,"date":"2011-09-12T09:22:33","date_gmt":"2011-09-12T06:22:33","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=4951"},"modified":"2011-09-12T09:22:43","modified_gmt":"2011-09-12T06:22:43","slug":"mizrak-cuvala-sigmiyor","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/mizrak-cuvala-sigmiyor\/","title":{"rendered":"M\u0131zrak \u00c7uvala S\u0131\u011fm\u0131yor!"},"content":{"rendered":"<p>Ge\u00e7ti\u011fimiz hafta genelinde ve k\u00fcresel d\u00fczeyde ya\u015fanan geli\u015fmelere bakt\u0131\u011f\u0131m\u0131zda, etkili ve yetkili kesimlerden gelen m\u00fcdahalelerin risk alma iste\u011fini geri getiremedi\u011fi ve g\u00fcvensizli\u011fin b\u00fcy\u00fcmesini \u00f6nleyemedi\u011fi dikkat \u00e7ekiyor. Daha \u00f6nce k\u0131sa vadeli de olsa etkili olabilen a\u00e7\u0131k veya \u00f6rt\u00fcl\u00fc, s\u00f6zel veya eylemli m\u00fcdahaleler art\u0131k i\u015fe yaram\u0131yor; beklentiler olumluya d\u00f6n\u00fc\u015femiyor; finansal piyasalar\u0131n k\u0131smen de olsa i\u00e7eriden verdi\u011fi destek yeterli olmuyor. Sermaye piyasalar\u0131nda her yukar\u0131 hareketin sat\u0131\u015f f\u0131rsat\u0131, ba\u015fta alt\u0131n olmak \u00fczere emtialarda her a\u015fa\u011f\u0131 hareketin al\u0131\u015f f\u0131rsat\u0131 olarak kullan\u0131lmas\u0131n\u0131n \u00f6n\u00fcne ge\u00e7ilemiyor. Durum b\u00f6yle olunca sistemik risk alg\u0131lamas\u0131 b\u00fcy\u00fcyor, piyasalar\u0131n ifadesi ile ikinci dip olas\u0131l\u0131\u011f\u0131 artarken belirsizlik ve k\u0131r\u0131lganl\u0131ktaki t\u0131rman\u0131\u015f olumsuzluklar\u0131 beslemeye devam ediyor. K\u00fcresel kredi krizi sonras\u0131nda sadece piyasalara likidite vererek durumun d\u00fczelmeyece\u011fi, sorunlar a\u011f\u0131rla\u015ft\u0131k\u00e7a daha fazla de\u011fi\u015fkeni kontrol alt\u0131nda tutmak gibi imkans\u0131z\u0131 ba\u015farmak gerekti\u011fi gibi gerek\u00e7eler bir d\u00f6nemin sonlar\u0131n\u0131n yakla\u015ft\u0131\u011f\u0131n\u0131 s\u00f6yl\u00fcyor. Kazanan\u0131 olmayacak bir d\u00f6neme do\u011fru ilerlendi\u011fi ve istikrars\u0131zl\u0131\u011f\u0131n b\u00fcy\u00fcyece\u011fi alg\u0131lamas\u0131n\u0131n g\u00fc\u00e7lenmesi \u00f6nlenemiyor. D\u00fcnyay\u0131 y\u00f6nlendirdi\u011fi d\u00fc\u015f\u00fcn\u00fclen kesimlerin \u00e7uvallad\u0131\u011f\u0131 ger\u00e7e\u011fi daha fazla gizlenemiyor. Ne Merkez Bankas\u0131 ba\u015fkanlar\u0131 ve Hazine yetkililerinden ne de siyasi liderlerden, medyan\u0131n abartt\u0131\u011f\u0131, toplant\u0131lardan durumu d\u00fczeltecek bir \u015fey \u00e7\u0131kmas\u0131 beklenmiyor. \u00c7aresizlik nedeniyle etkili ve yetkili kesimlerin dengesi bozuluyor. Sa\u00e7malad\u0131klar\u0131n\u0131n fark\u0131na bile varamaz hale geliyor, kimsenin bunu fark edemeyece\u011fini sanma gafletine d\u00fc\u015febiliyorlar.<\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-3945706176\"><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>Finansal piyasalar medyan\u0131n da deste\u011fi ile Obama&#8217;n\u0131n istihdam paketini, Alman Anayasa Mahkemesi&#8217;nin karar\u0131n\u0131 veya \u0130svi\u00e7re Merkez Bankas\u0131&#8217;n\u0131n frang\u0131n de\u011feri konusundaki kararl\u0131l\u0131\u011f\u0131n\u0131 abart\u0131yor, beklentileri d\u00fczeltebilecek bir \u015foka d\u00f6n\u00fc\u015ft\u00fcrmeye \u00e7al\u0131\u015f\u0131yor, ama olmuyor&#8230; Her platformda g\u00f6r\u00fc\u015f ayr\u0131l\u0131klar\u0131n\u0131n b\u00fcy\u00fcmesi \u00f6nlenemiyor, uzla\u015f\u0131 arar iken uzla\u015fmazl\u0131klar\u0131n b\u00fcy\u00fcmesi nedeniyle evdeki hesaplar \u00e7ar\u015f\u0131ya uymuyor. Yunanistan&#8217;\u0131n risk primi yeni rekorlar k\u0131r\u0131yor, Avrupa Merkez Bankas\u0131 i\u00e7indeki g\u00f6r\u00fc\u015f ayr\u0131l\u0131klar\u0131n\u0131n itibar kayb\u0131na d\u00f6n\u00fc\u015fmesi h\u0131zlan\u0131yor, s\u0131va \u00e7atlaklar\u0131 kolon \u00e7atlaklar\u0131na d\u00f6n\u00fc\u015fmeye ba\u015flay\u0131nca g\u00fcven bunal\u0131m\u0131n\u0131n derinle\u015fmesini \u00f6nlemek pek m\u00fcmk\u00fcn olam\u0131yor.<\/p>\n<p>Yunanistan&#8217;\u0131n bak\u0131\u015f\u0131 \u00fc\u00e7 y\u0131l \u00f6nce Lehman Brothers&#8217;\u0131n bat\u0131\u015f\u0131 gibi etki yarat\u0131r diyenler, yumurta kap\u0131ya gelince t\u00fck\u00fcrd\u00fcklerini yalamak zorunda kal\u0131yor, ama hi\u00e7bir \u015fey d\u00fczelmiyor. Son iki ay i\u00e7inde riskten ka\u00e7\u0131nma ve sa\u011flam limana y\u00f6nelme anlay\u0131\u015f\u0131n\u0131n giderek g\u00fc\u00e7lenmesi devreye sokulan \u00e7e\u015fitli m\u00fcdahalelere ra\u011fmen \u00f6nlenemiyor. Bu karma\u015fa i\u00e7inde \u0130svi\u00e7re Frang\u0131&#8217;n\u0131n art\u0131k g\u00fcvenli bir liman olmad\u0131\u011f\u0131 ger\u00e7e\u011fi g\u00f6zden ka\u00e7\u0131yor; s\u00f6z konusu \u00fclkenin yetkilileri paralar\u0131n\u0131n de\u011ferlenmesini \u00f6nlemek konusunda ne yapaca\u011f\u0131n\u0131 \u015fa\u015f\u0131r\u0131yor; limitsiz para basaca\u011f\u0131 a\u00e7\u0131klamas\u0131n\u0131 sa\u011flam liman aray\u0131\u015f\u0131ndan vazge\u00e7me ve risk alma iste\u011finde art\u0131\u015fa d\u00f6n\u00fc\u015ft\u00fcrmeye \u00e7al\u0131\u015fanlar ba\u015far\u0131l\u0131 olam\u0131yor. B\u00fcy\u00fcyen \u00e7aresizlik nedeniyle k\u00fcreselle\u015fmeden korumac\u0131l\u0131\u011fa do\u011fru ge\u00e7i\u015f ad\u0131mlar\u0131n\u0131n h\u0131zland\u0131\u011f\u0131, makro ekonomik g\u00f6stergelerdeki olumsuzla\u015fman\u0131n h\u0131zlanaca\u011f\u0131 gibi temel ger\u00e7ekleri g\u00f6zden uzak tutmak zorla\u015f\u0131yor. \u00c7e\u015fitli platformlardaki g\u00f6r\u00fcnt\u00fcye yans\u0131maya ba\u015flayan uzla\u015fmazl\u0131\u011f\u0131n buradan kaynakland\u0131\u011f\u0131n\u0131, bir karma\u015fan\u0131n arkas\u0131na s\u0131\u011f\u0131narak gizlemenin m\u00fcmk\u00fcn olamayaca\u011f\u0131 bir d\u00f6neme ko\u015fuluyor.<\/p>\n<p>Ortaya, &#8220;B\u00fcy\u00fcme dostu b\u00fct\u00e7e&#8221; gibi ne anlama geldi\u011fi belli olmayan kavramlar at\u0131l\u0131yor, zenginlerden daha fazla vergi alman\u0131n temeldeki sorunlar\u0131n a\u011f\u0131rla\u015fmas\u0131n\u0131 \u00f6nleyemeyece\u011fi ve bu nedenle i\u015fe yaramayaca\u011f\u0131 g\u00f6rmezden geliniyor. Likidite yaratarak menkul ve gayrimenkul \u015feklindeki varl\u0131k de\u011ferlerinin d\u00fc\u015fmesini \u00f6nleyebilir, zenginleri koruyabilirsin, fakat bu s\u00fcre\u00e7te ortaya \u00e7\u0131kan enflasyon bask\u0131s\u0131n\u0131n geni\u015f kesimler \u00fczerinde yaratt\u0131\u011f\u0131 tahribat\u0131 devam\u0131nda i\u015fsizlik art\u0131\u015f\u0131n\u0131 \u00f6nleyemezsin, zenginlere verilenin bir k\u0131sm\u0131n\u0131 geri almak k\u0131sa vadede g\u00f6z boyayabilir, fakat olumsuzluklar\u0131n b\u00fcy\u00fcmesini engelleyemez. Bunu fark edenler risklerini azaltmak ve ger\u00e7ek bir sa\u011flam limana s\u0131\u011f\u0131nmak i\u00e7in bunu son f\u0131rsat olarak de\u011ferlendirmeye \u00e7al\u0131\u015fabilirler.<\/p>\n<p>Veya kendileri i\u00e7in bu son f\u0131rsat\u0131 yaratmaya \u00e7al\u0131\u015fanlar ne yapman\u0131n daha do\u011fru oldu\u011funu kestiremeyen siyasiler ve b\u00fcrokratlar\u0131 bu y\u00f6nde etkileme \u00e7abas\u0131nda olabilirler.<\/p>\n<p>Evet ortada b\u00fcy\u00fck bir karma\u015fa var, kimin kimi kulland\u0131\u011f\u0131 pek belli de\u011fil, g\u00f6r\u00fcnt\u00fc ile ger\u00e7ek aras\u0131ndaki fark t\u00fcm \u00e7abalara ra\u011fmen artm\u0131yor olmas\u0131 s\u0131k\u0131nt\u0131 yaratmaya devam ediyor. Ancak bilinen temel bir ger\u00e7ek var, ak\u0131ls\u0131z ba\u015f\u0131n cezas\u0131n\u0131 ayak tak\u0131m\u0131 \u00e7ekecek!.. Geni\u015f kesimlerin ya\u015fam ko\u015fullar\u0131 olumsuzla\u015fmaya devam edecek; kimin elinin kimlerin cebinde oldu\u011fu anla\u015f\u0131ld\u0131k\u00e7a istikrars\u0131zl\u0131k b\u00fcy\u00fcyecek ve ge\u00e7 de olsa \u00e7ok daha radikal re\u00e7eteler g\u00fcn \u0131\u015f\u0131\u011f\u0131 g\u00f6rmeye ba\u015flayacak&#8230; Hi\u00e7bir \u015fey eskisi gibi olamayacak&#8230; Ekonomiler daral\u0131p, enflasyon ve i\u015fsizlik artt\u0131k\u00e7a m\u0131zrak \u00e7uvala s\u0131\u011famayacak; her \u00fclke, her kurum veya her birey ba\u015f\u0131n\u0131n \u00e7aresine bakacak, bunu yapamayanlar\u0131n y\u00f6nlendirilemeyen tepkisi her \u015feyi sanc\u0131l\u0131 bir \u015fekilde farkl\u0131la\u015ft\u0131racak&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ge\u00e7ti\u011fimiz hafta genelinde ve k\u00fcresel d\u00fczeyde ya\u015fanan geli\u015fmelere bakt\u0131\u011f\u0131m\u0131zda, etkili ve yetkili kesimlerden gelen m\u00fcdahalelerin risk alma iste\u011fini geri getiremedi\u011fi ve g\u00fcvensizli\u011fin b\u00fcy\u00fcmesini \u00f6nleyemedi\u011fi dikkat&hellip;<\/p>\n","protected":false},"author":21,"featured_media":931,"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-4951","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\/4951","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\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=4951"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/4951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/931"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=4951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=4951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=4951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}