{"id":8316,"date":"2011-11-30T10:00:08","date_gmt":"2011-11-30T07:00:08","guid":{"rendered":"http:\/\/www.bilgeyatirimci.com\/?p=8316"},"modified":"2011-11-30T10:00:17","modified_gmt":"2011-11-30T07:00:17","slug":"dunyanin-kredi-notu-dustu","status":"publish","type":"post","link":"https:\/\/www.bilgeyatirimci.com\/i\/dunyanin-kredi-notu-dustu\/","title":{"rendered":"D\u00fcnyan\u0131n Kredi Notu D\u00fc\u015ft\u00fc"},"content":{"rendered":"<p><strong>B\u0130LD\u0130\u011e\u0130N\u0130Z gibi d\u00fcnyadaki her \u00fclkenin, ekonomisinin s\u00fcrd\u00fcr\u00fclebilir g\u00fcc\u00fcne g\u00f6re hesaplanan bir \u201ckredi notu\u201d (reyting derecesi) var.<\/strong><\/p><div class=\"bilge-yaziust\" style=\"margin-top: 10px;margin-bottom: 10px;\" id=\"bilge-881392081\"><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 notlar\u0131n esas amac\u0131, d\u00fcnyan\u0131n herhangi bir \u00fclkesinde ya\u015fayan tasarruf sahiplerine veya fon y\u00f6neticilerine, ellerindeki paray\u0131, nereye yat\u0131rmalar\u0131 konusunda yol g\u00f6stermektir. Bu sebeple, \u201cen iyi\u201d den \u201cen k\u00f6t\u00fc\u201dye kadar s\u0131ralanan kredi notlar\u0131n\u0131n kritik bir e\u015fik \u00e7izgisi var. Bu e\u015fi\u011fin \u00fcst\u00fcnde olan notlara \u201cyat\u0131r\u0131m yap\u0131labilir\u201d (investment grade) deniyor. Yani bir \u00fclkenin kredi notu bu \u00e7izginin \u00fcst\u00fcnde ise korkmadan yat\u0131r\u0131m yap\u0131labilirsiniz deniyor. Burada ge\u00e7en \u201cyat\u0131r\u0131m\u201d kelimesinden esas anlam\u0131, o \u00fclkenin \u201cdevlet tahviline\u201d para yat\u0131rmakt\u0131r. Yoksa gidip o \u00fclkede haz\u0131r \u015firketleri ele ge\u00e7irmek veya s\u0131f\u0131rdan fabrika kurmak veya gayrimenkul almak gibi \u201creel\u201d yat\u0131r\u0131mlar de\u011fildir. Hatta denilebilir ki; giri\u015fimciler i\u00e7in en k\u00e2rl\u0131 reel yat\u0131r\u0131m f\u0131rsatlar\u0131 bir \u00fclkenin reytingi d\u00fc\u015f\u00fck oldu\u011fu zaman ortaya \u00e7\u0131kar. Reytingi y\u00fcksek \u00fclkelerde reel yat\u0131r\u0131m yap\u0131p, para kazanmay\u0131 d\u00fc\u015f\u00fcnen firmalar\u0131n ciddi teknolojik birikime ve y\u00fcksek de\u011ferli bir markaya sahip olmas\u0131 \u015fartt\u0131r. Reytingi d\u00fc\u015f\u00fck \u00fclkelerde reel yat\u0131r\u0131m i\u00e7in bu \u015fart de\u011fildir.<br \/>\n<strong>REYT\u0130NG G\u00d6RECEL\u0130 B\u0130R KAVRAMDIR<\/strong><br \/>\n\u00d6ncelikle \u015funu bilmek gerekir ki; reyting g\u00f6receli bir \u00f6l\u00e7\u00fcm olmak mecburiyetindedir. \u201c100 metre ko\u015fusuna kat\u0131lan t\u00fcm sporcular o kadar yava\u015ft\u0131 ki kimse birinci olamad\u0131\u201d mant\u0131ken yanl\u0131\u015f bir ifadedir. \u00c7\u00fcnk\u00fc atletler ne kadar k\u00f6t\u00fc olursa olsun, her yar\u0131\u015f\u0131n bir birincisi olur. Ayn\u0131 \u015fekilde \u201cd\u00fcnya bir ekonomik krizle kar\u015f\u0131 kar\u015f\u0131ya, t\u00fcm \u00fclkelerin reytingi d\u00fc\u015ft\u00fc\u201d c\u00fcmlesi de sa\u00e7mad\u0131r. Hatta Norve\u00e7 ve \u0130svi\u00e7re d\u0131\u015f\u0131nda hi\u00e7bir \u00fclke, AAA derecesini hak etmiyor demek bile z\u0131rvalamakt\u0131r. \u00c7\u00fcnk\u00fc bu iki, bilemediniz benzeri \u00fc\u00e7 be\u015f \u00fclkenin d\u00fcnyada halen mevcut kabaca 80 trilyon dolarl\u0131k finansal tasarrufu (yat\u0131r\u0131mlar\u0131) kabul etmesi maddeten imk\u00e2ns\u0131zd\u0131r.<br \/>\n<strong><\/strong><\/p>\n<p><strong>BU D\u00dcNYANIN BORCU, BU D\u00dcNYANIN ALACA\u011eIDIR<\/strong><br \/>\nReyting \u015firketlerinin, y\u0131llard\u0131r tasarruf ihra\u00e7 eden, yani cari fazlas\u0131 olan Japonya\u2019n\u0131n y\u00fcksek kamu borcunu gerek\u00e7e g\u00f6stererek not k\u0131rmaktan bahsetmesi de hatal\u0131d\u0131r. Japonya\u2019n\u0131n kamu bor\u00e7lar\u0131n\u0131n toplam\u0131ndan fazla, Japon halk\u0131n\u0131n (ailelerinin, firmalar\u0131n\u0131n ve devletinin) Japonya i\u00e7inde ve d\u0131\u015f\u0131nda finansal varl\u0131\u011f\u0131 vard\u0131r. B\u00fct\u00e7e a\u00e7\u0131\u011f\u0131 ve kamu borcunun milli gelire oran\u0131 ne kadar y\u00fcksek olursa olsun, Japon devleti acze d\u00fc\u015femez. Evrendeki di\u011fer y\u0131ld\u0131zlardan bor\u00e7 al\u0131nmad\u0131\u011f\u0131 s\u00fcrece, bu d\u00fcnyan\u0131n borcu bu d\u00fcnyan\u0131n alaca\u011f\u0131d\u0131r.<br \/>\n<strong><\/strong><\/p>\n<p><strong>AMA BAZI \u00dcLKELER\u0130N BORCU ALACA\u011eINDAN AZDIR\u00a0<\/strong><br \/>\nAncak d\u00fcnyan\u0131n b\u00fct\u00fcn\u00fc i\u00e7in do\u011fru olan \u201cd\u00fcnyan\u0131n borcu, d\u00fcnyan\u0131n alaca\u011f\u0131d\u0131r\u201d cebirsel denkli\u011fi m\u00fcnferit \u00fclkeler i\u00e7in do\u011fru de\u011fildir. Yani bizim gibi s\u00fcrekli cari a\u00e7\u0131k veren \u00fclkelerin borcu, alaca\u011f\u0131ndan b\u00fcy\u00fckt\u00fcr. Bu \u00fclkeler ve onlar\u0131n devletleri, b\u00fct\u00e7e a\u00e7\u0131klar\u0131 ve kamu borcunun milli gelire oran\u0131 ne kadar d\u00fc\u015f\u00fck olursa olsun, vadesi gelen bor\u00e7lar\u0131n\u0131 \u00f6demede acze d\u00fc\u015febilir. Devletin d\u0131\u015f borcu s\u0131f\u0131r bile olsa, kamu ve \u00f6zel sekt\u00f6r\u00fcyle bir b\u00fct\u00fcn olan ve s\u00fcrekli cari a\u00e7\u0131k veren bir \u00fclkenin, yabanc\u0131 para cinsinden bor\u00e7lar\u0131n\u0131 \u00f6demede acze d\u00fc\u015fmesi pek\u00e2l\u00e2 m\u00fcmk\u00fcnd\u00fcr. T\u00fcrkiye\u2019nin notu bir t\u00fcrl\u00fc arzu edildi\u011fi kadar y\u00fckselmiyorsa sebep budur. Ba\u015fka bir neden aramaya gerek yoktur.<br \/>\nSon S\u00f6z: Notunu y\u00fckseltmek isteyen, cari a\u00e7\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcr\u00fcr.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>B\u0130LD\u0130\u011e\u0130N\u0130Z gibi d\u00fcnyadaki her \u00fclkenin, ekonomisinin s\u00fcrd\u00fcr\u00fclebilir g\u00fcc\u00fcne g\u00f6re hesaplanan bir \u201ckredi notu\u201d (reyting derecesi) var. Bu notlar\u0131n esas amac\u0131, d\u00fcnyan\u0131n herhangi bir \u00fclkesinde ya\u015fayan&hellip;<\/p>\n","protected":false},"author":14,"featured_media":936,"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-8316","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\/8316","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\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/comments?post=8316"}],"version-history":[{"count":0,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/posts\/8316\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media\/936"}],"wp:attachment":[{"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/media?parent=8316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/categories?post=8316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bilgeyatirimci.com\/wp-json\/wp\/v2\/tags?post=8316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}