{"id":50960,"date":"2017-08-23T23:22:18","date_gmt":"2017-08-23T20:22:18","guid":{"rendered":"https:\/\/www.bilgeyatirimci.com\/?p=50960"},"modified":"2017-08-23T23:22:18","modified_gmt":"2017-08-23T20:22:18","slug":"cetin-unsalan-jackson-holede-ne-soylenebilir","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/cetin-unsalan-jackson-holede-ne-soylenebilir\/","title":{"rendered":"\u00c7etin \u00dcnsalan &#8211; Jackson Hole\u2019de ne s\u00f6ylenebilir?"},"content":{"rendered":"<p><em><strong>FED Ba\u015fkan\u0131 Yellen ve AMB (ECB) Ba\u015fkan\u0131 Draghi ABD\u2019de Jackson Hole toplant\u0131s\u0131nda biraraya geliyor. Finans piyasalar\u0131 ba\u015fta olmak \u00fczere herkesin dikkatle takip edece\u011fi toplant\u0131 per\u015fembe ve cuma g\u00fcnlerini kapsayacak.<\/strong><\/em><\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-3900075190\"><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>\u0130ki \u00f6nemli kurumun ba\u015f\u0131ndaki ismin yapaca\u011f\u0131 a\u00e7\u0131klamalar\u0131n \u00e7ok kritik oldu\u011funa dair bir inan\u00e7 var. Peki ger\u00e7ekten \u00f6yle mi? Ben bu a\u00e7\u0131dan bakm\u0131yorum. Belki ba\u015fka bir zaman diliminde, ba\u015fkaca ekonomik ko\u015fullar alt\u0131nda bulu\u015fsalarda bir ehemmiyeti olabilirdi.<\/p>\n<p>B\u00f6yle d\u00fc\u015f\u00fcnmemin iki temel sebebi var. Bunlardan birincisi, \u015fu an d\u00fcnya ekonomisinin a\u00e7mazlar\u0131, merkez bankalar\u0131n\u0131n g\u00fcc\u00fcn\u00fc \u00f6nemli \u00f6l\u00e7\u00fcde a\u015fm\u0131\u015f vaziyette. Art\u0131k d\u00fc\u015f\u00fclen bu \u00e7ukurdan salt iktisadi tercihlerle \u00e7\u0131kmak m\u00fcmk\u00fcn de\u011fil.<\/p>\n<p>Siyasetin, siyasetini finanse etmek i\u00e7in y\u0131llarca g\u00f6z yumdu\u011fu s\u0131k\u0131nt\u0131lar ve yanl\u0131\u015flar, spek\u00fclat\u00f6rlerle ve finans\u00e7\u0131larla kurulan imtiyazl\u0131 ili\u015fkiler, gelinen noktada merkez bankalar\u0131n\u0131 da \u00e7aresiz b\u0131rakmaktad\u0131r. S\u0131f\u0131r bir belirleyicilikten bahsetmiyorum, ama esas olan d\u00fcnyada ekonomik olarak bir faz de\u011fi\u015fimi ya\u015fanacaksa, ilk adres siyaset\u00e7iler.<\/p>\n<p>Siyasetin ekonomi politikalar\u0131nda radikal de\u011fi\u015fimlere gitmesini zorunlu b\u0131rakan bir s\u00fcrece girmi\u015f bulunuyoruz. Neticede merkez bankalar\u0131 belirlenen ekonomi politikas\u0131n\u0131n, hedeflerine ula\u015fmas\u0131 bak\u0131m\u0131ndan i\u00e7 stratejilerinde \u00f6zg\u00fcrd\u00fcr. Sorumlulu\u011fu siyaset\u00e7i almal\u0131d\u0131r.<\/p>\n<p>Gelinen bat\u0131\u015f noktas\u0131n\u0131 ve riskleri yaratan siyasilerin topu buraya atarak kurtulmas\u0131 m\u00fcmk\u00fcn olmad\u0131\u011f\u0131 gibi, siyaset\u00e7ilerin itiraflarla yeni bir faza ge\u00e7meden sorunun a\u015f\u0131labilmesi de olas\u0131 g\u00f6z\u00fckm\u00fcyor.<\/p>\n<p>Bu nedenle FED ve AMB Ba\u015fkanlar\u0131\u2019n\u0131n s\u00f6ylemlerinin temenniden \u00f6teye ge\u00e7meyece\u011fini d\u00fc\u015f\u00fcn\u00fcyorum. Ayr\u0131ca parite \u00fczerinden ya\u015fanan rekabette i\u00e7 a\u00e7mazlar\u0131 oldu\u011fu da biliniyor.<\/p>\n<p>S\u00f6ylemlerin \u00f6nemini azaltan ikinci fakt\u00f6r de bankalar\u0131n \u00f6zelindeki durumla ilgili. Mesela FED Ba\u015fkan\u0131 Yellen\u2019\u0131n son toplant\u0131s\u0131 olaca\u011f\u0131 \u00f6ng\u00f6r\u00fcl\u00fcyor. Bu a\u00e7\u0131dan buradaki s\u00f6ylemleri temennilerden mi, yoksa yap\u0131lacaklardan m\u0131 ibaret olacak tart\u0131\u015f\u0131l\u0131r.<\/p><div class=\"bilge-content-1\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-203741236\"><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>Elbette politikalarda d\u00fczg\u00fcn \u00fclkelerde devaml\u0131l\u0131k esast\u0131r. Fakat Trump y\u00f6netiminin anlay\u0131\u015fla FED aras\u0131nda \u00e7eli\u015fkiler ya\u015fand\u0131\u011f\u0131 da g\u00f6zle g\u00f6r\u00fcl\u00fcr bir bi\u00e7imde ortada. Yellen sonras\u0131 FED\u2019in tavr\u0131n\u0131n ne olaca\u011f\u0131n\u0131 kestirmek, Yellen\u2019\u0131n Jackson Hole\u2019de yapaca\u011f\u0131 a\u00e7\u0131klamalardan bence daha kritik \u00f6nem ta\u015f\u0131yor.<\/p>\n<p>AMB Ba\u015fkan\u0131 Draghi\u2019ye gelince\u2026 Bug\u00fcne kadar belirtti\u011fim gibi Draghi\u2019nin ve ba\u011flant\u0131l\u0131 olarak Avrupa Merkez Bankas\u0131\u2019n\u0131n da ne s\u00f6yledi\u011finin \u00f6nemi yok. \u00c7\u00fcnk\u00fc Merkel\u2019in, yani Almanya\u2019n\u0131n onaylamad\u0131\u011f\u0131 hi\u00e7bir politikan\u0131n finansal ve siyasal a\u00e7\u0131dan hayat bulmas\u0131 m\u00fcmk\u00fcn de\u011fil. \u00c7\u00fcnk\u00fc AB, paray\u0131 veren d\u00fcd\u00fc\u011f\u00fc \u00e7alar oynuyor.<\/p>\n<p>Peki t\u00fcm bunlar\u0131n \u0131\u015f\u0131\u011f\u0131nda T\u00fcrkiye a\u00e7\u0131s\u0131ndan durum ne? Belki de en \u00e7ok tart\u0131\u015fmam\u0131z gereken konu bu. \u015eunu b\u00fcy\u00fck bir rahatl\u0131k i\u00e7inde s\u00f6yleyebilirim ki, g\u00fcnl\u00fck geli\u015fmeler, ini\u015fler \u00e7\u0131k\u0131\u015flar kimseyi kand\u0131rmas\u0131n.<\/p>\n<p>D\u00fcnyadaki riskler ve olas\u0131 geli\u015fmeler, d\u00fcnya ekonomisi i\u00e7in k\u00f6t\u00fc, T\u00fcrkiye\u2019nin de i\u00e7inde bulundu\u011fu geli\u015fmekte olan \u00fclkeler i\u00e7in de berbat sinyaller veriyor. Bu y\u00fczden a\u011f\u0131zdan \u00e7\u0131kacak iki etkisiz kelama de\u011fil, er ya da ge\u00e7 \u00f6n\u00fcm\u00fcze gelecek sorunlara odaklanmam\u0131z gerekiyor.<\/p><div class=\"bilge-content-2\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-2273811447\"><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>Elbette derdiniz hisse senetleriniz ya da tahvilleriniz de\u011fil; T\u00fcrkiye ise\u2026<\/p>\n<p><a href=\"mailto:cetinunsalan@yahoo.com\">cetinunsalan@yahoo.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>FED Ba\u015fkan\u0131 Yellen ve AMB (ECB) Ba\u015fkan\u0131 Draghi ABD\u2019de Jackson Hole toplant\u0131s\u0131nda biraraya geliyor. Finans piyasalar\u0131 ba\u015fta olmak \u00fczere herkesin dikkatle takip edece\u011fi toplant\u0131 per\u015fembe&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-50960","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\/50960","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=50960"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/50960\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=50960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=50960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=50960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}