Archive

  • April 2019 (2)
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  • May 2018 (3)

    Much ado about nothing
    Güven Sak, PhD 31 March 2019
    That’s how I see things in the financial markets this past week. Why? There’s nothing there about economic policy. It’s all about politics. Turkey is going to the polls this Sunday. In Shakespeare’s play of the same title, a great fuss (“much ado”) is made of something insignificant. There are unfounded claims of the hero’s infidelity and the unfounded claims that two characters are in love with each other. All about eavesdropping, hearsay, spying and critique of other people. The Turkish economy too, is a play about deception and self-deception. [More]
    In banks Turks trust
    Güven Sak, PhD 24 March 2019
    Looking at the economy these days, there are things that I understand and there are things that I have difficulty in understanding. The recent rapid rise in retail foreign exchange (FX) bank deposit accounts speaks of volumes, if you ask me. Just this week, the government decided to raise the witholding tax rate on interest income from FX accounts. Let me explain what I am hearing, and why all this is important. [More]
    All eyez on Turkey
    Güven Sak, PhD 17 March 2019
    In December 1995, the American rapper 2Pac (Tupac Amari Shakur) was on MTV, talking about his new album. “It's called All Eyez on Me. That's how I feel it is. I got the police watching me, the Feds... everybody's looking to see what I'mma do now so All Eyez on Me.” That’s what it feels like in Turkey these days. [More]
    Conservative debates in Turkey and Germany
    Güven Sak, PhD 10 March 2019
    “The times they are-a changin’” sang Bob Dylan in the 1960s. That got to me sometimes. Aren’t they always “a-changin’?” Isn’t that what time is? Not necessarily. The course of human events can slow down and speed up. There is a good argument to be made that today, urbanization and technological innovation are accelerating things faster than at any point in human history. For people who think of themselves as being “conservative,” it makes things complicated. That is why I find debates among conservatives more interesting and more important these days. [More]