Any economic problems are just in our heads
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Oluşturulma Tarihi: Aralık 26, 2008 00:00
Just when we were starting to get worried about the state of the economy, the latest word from the prime minister came as no small relief: nothing is wrong, this is all "psychological."
We at the Hürriyet Daily News & Economic Review wish we had learned this several months ago, before devaluation sent the cost of newsprint soaring and the advertising sector sagging. But, better late than never. We breathe a collective sigh of relief that all of this is simply in our heads.
We certainly will mind our reporting. We don’t want to, in the words of Prime Minister Recep Tayyip Erdoğan, "fan the flames of this crisis." We commit to do our part to "destroy this psychological climate."
We hope the banking sector is reading this. The fact that non-performing loans in the housing, vehicle and general purpose sectors are reportedly climbing rapidly is not something to worry about. Must be an accounting mistake, a case of accountants with the holiday blues.
The 100,000 people whom despair has sent to Turkey’s soup kitchens will no doubt be cheered by the premier’s pronouncement. That growling in their stomachs, they must be told, is just a media-driven psychosomatic disorder.
Those 27,000 people who lost their jobs in the construction sector in the first month of this "non-crisis," according to the metal workers union, will be happy to learn they are still employed. Must have been a bad dream inspired by the "psychological climate."
The suicides the non-crisis has prompted are another matter. Too late to help those victims, we must conclude. But the fact that the economy is doing just fine should steady the nerves of those contemplating such drastic steps. Şükrü Alkan of the Turkish Psychology Association should be alerted. This is the psychologist who we reported two days ago is witnessing a striking rise in the numbers of people seeking treatment from crisis-related depression. "Hey doc, it’s all in your head."
Someone should get an e-mail off to Nouriel Roubini, the Istanbul-born economist in New York who famously predicted back in 2005 the that housing bubble would burst and the world would have to hell to pay. Just the other day Roubini told the Financial Times that dark days are ahead for Turkey and that we should expect things to get worse before better. No wonder they call him "Dr. Gloom." He apparently just sees the world darkly; obviously he has a psychological predisposition to see economic problems that don’t exist. Surely the profession has a clinical name for the condition: "Economically Dour Syndrome," or "EDS" in psychologists’ jargon?
Let’s close our eyes, visualize prosperity, banish all negative economic thoughts from our mind and get ready for a prosperous 2009. After all good economic times are already here. We are glad the prime minister straightened us out.
We certainly will mind our reporting. We don’t want to, in the words of Prime Minister Recep Tayyip Erdoğan, "fan the flames of this crisis." We commit to do our part to "destroy this psychological climate."
We hope the banking sector is reading this. The fact that non-performing loans in the housing, vehicle and general purpose sectors are reportedly climbing rapidly is not something to worry about. Must be an accounting mistake, a case of accountants with the holiday blues.
The 100,000 people whom despair has sent to Turkey’s soup kitchens will no doubt be cheered by the premier’s pronouncement. That growling in their stomachs, they must be told, is just a media-driven psychosomatic disorder.
Those 27,000 people who lost their jobs in the construction sector in the first month of this "non-crisis," according to the metal workers union, will be happy to learn they are still employed. Must have been a bad dream inspired by the "psychological climate."
The suicides the non-crisis has prompted are another matter. Too late to help those victims, we must conclude. But the fact that the economy is doing just fine should steady the nerves of those contemplating such drastic steps. Şükrü Alkan of the Turkish Psychology Association should be alerted. This is the psychologist who we reported two days ago is witnessing a striking rise in the numbers of people seeking treatment from crisis-related depression. "Hey doc, it’s all in your head."
Someone should get an e-mail off to Nouriel Roubini, the Istanbul-born economist in New York who famously predicted back in 2005 the that housing bubble would burst and the world would have to hell to pay. Just the other day Roubini told the Financial Times that dark days are ahead for Turkey and that we should expect things to get worse before better. No wonder they call him "Dr. Gloom." He apparently just sees the world darkly; obviously he has a psychological predisposition to see economic problems that don’t exist. Surely the profession has a clinical name for the condition: "Economically Dour Syndrome," or "EDS" in psychologists’ jargon?
Let’s close our eyes, visualize prosperity, banish all negative economic thoughts from our mind and get ready for a prosperous 2009. After all good economic times are already here. We are glad the prime minister straightened us out.