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  • April 2018 (5)
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  • January 2018 (4)
  • December 2017 (4)
  • November 2017 (3)

    How might 2010 be?
    Güven Sak, PhD 23 May 2009
    Since May is about to end, it is wise to stop thinking about 2009 and start to focus on 2010. Have you started to think about how 2010 might be? Today let us start doing it together. When you start thinking, you begin to evaluate better what goes around. [More]
    Erdoğan must ask Lula the secret of his success
    Güven Sak, PhD 21 May 2009
    Luis Inacio Lula da Silva, popular President of Brazil, is visits Turkey today. He is the leader with biggest public support after Obama. As opinion surveys carried out in Brazil reveal, around 80 percent of the public supports him. But, his performance is in fact better than that of the President of United States of America. Obama has recently taken over the office. Lula on the other hand took over the administration in January 2003 following the elections carried out at the end of 2002. Then in 2006, he succeeded to be elected as the president for the second time. Do these dates sound familiar? It is important that 80 percent of the public still supports him at the end of the first half of his second term in power. In this context, it might not be logical to compare Lula with Obama. Pres [More]
    IMF is definitely useful
    Güven Sak, PhD 19 May 2009
    I guess talking about the IMF will be subject to prior authorization from now on. What we watched on television last week showed us that to do this it is necessary to take prior permission from Honorable Public Prosecutor principally. In this context, I believe that the second prior permission must be taken from economist Asaf Savaş Akat. Last week on television, Mr. Akat was acting like Deputy Public Prosecutor. So, we must be cautious, just in case. Honorable Public Prosecutor and Honorable Economist; in your sanction, I would like to call back the "Why is IMF necessary over the forthcoming period?" issue today. Yes, it is right; I, your humble servant, think it is a mistake that no IMF agreement has been signed yet. On top of it, I also believe that an agreement has still not been signe [More]
    What is the problem of European banks?
    Güven Sak, PhD 16 May 2009
    I know that it is weekend. But I do not think there is a rule saying "weekend commentaries should be entertaining, not serious." Can weekends be time of mediation or an opportunity to leave behind hullabaloo of life and take a top view on the environment? Why not? This is our intention for today. [More]
    Certain things cannot be tackled by yelling
    Güven Sak, PhD 12 May 2009
    We are violently angry at banks. Mr. Rifat Hisarcıklıoğlu, President of Union of Chambers and Commodity Exchanges (TOBB), has been angry at them. Recently, Honorable Prime Minister of Republic of Turkey also started to express his anger for banks. Life is hard for banks. Have you noticed that, in fact we are angry at banks just because they act like banks? Nowadays, we request banks not to act like banks. But they continue acting like banks. Then, is it possible to change the behavior patterns of banks? Of course it is possible. To do this, it is necessary to take public measures that will change the meaning of acting "like a bank". Today, let us first touch upon the existing structural problems. Then, let us explain how the government can change the behavioral patterns of banks by impleme [More]
    We continue to not like economists
    Güven Sak, PhD 09 May 2009
      Last weekend, we began with saying “no one likes economists”. Please let us continue with this topic this week. There is nothing changed: we also continue to not like economists this week. [More]
    Medium run perspective of Turkey is the EU
    Güven Sak, PhD 07 May 2009
    What did we underline a while ago? We underlined that the crisis periods are the periods of "saving the day". Crises periods were not time for heroic actions for those who undertook the responsibility of managing a company. There was no need to beat a dead horse or be embarrassed. The important thing was to watch out each step you take than making long-term plans. It would be wise to take one step at a time. Then, what does this 'medium run perspective' put in the title with big fonts mean? Does it have any meaning? Let us see. [More]
    IMF now stands by the poor
    Güven Sak, PhD 05 May 2009
    Global financial crisis is opening out the door of a process of transformation. Those that fail to acknowledge the transformation cannot manage it. What was the motto? Either we will manage the crisis or it will manage us. Either we will try to perceive and manipulate the global transformation dynamics or the transformation process initiated by the global crisis will eventually change us regardless of our desire. Either we will benefit from the transformed aspect and better control the cost of the crisis, or the crisis will thrust through us while we sit and wonder what goes on. We believe that what goes around in the world is not closely monitored in Turkey. For instance, that the IMF is currently working on a social conditionality geared to protect the poor from the impacts of the crisis [More]
    No one likes economists
    Güven Sak, PhD 02 May 2009
    Trends in the United States of America (USA) indicate that people hate bankers the most. In the list of the most hated, corporate managers, executive board managers and CEO's rank the second. This phenomenon is in particular valid for publicly held companies. In the list, economists in general rank the third. The issue now occupies articles. There is a certain truth: No one likes economists. [More]
    How can export expectations get better while our share in the European Union market shrinks?
    Güven Sak, PhD 30 April 2009
    As you might remember, last Tuesday, we started asking "What is the problem in expectations surveys?" There observed something strange. Rate of those whose expectation for "export orders over the next three months" was recovering increased steeply. Expectations got better; however, over the same period annual growth forecasts for our basic export markets were revised downwards. As the question on export orders was a part of real sector confidence index, we changed the question as follows: "Is it possible that market actors while passing through lands, whose roadmap is not known, fail to decide how to formulate their expectations? Do expectations surveys reflect confusion?"Today, let us continue with the same topic. [More]