Sunday, July 4, 2010

EconNews Roundup

Bloomberg's polled economists see June inflation at 8.8%, down from 9.1% in May. I am expecting a slightly higher figure, which would bring the yearly rate to 9.0%, but there shouldn't be much of a market impact in any case.

Zaman reports on hopes that the high growth figure will spill over to employment. First of all, as I will argue in tomorrow's Hurriyet column, that high Q1 growth figure is, in fact, not that high at all. Moreover, while I can't reveal too much, but if the KONDA surveys I am working on each month are accurate, employment will fall for a couple of months or so because of seasonality, hitting at 11% (apologies to Erdogan and Babacan, but their 10% will not materialize after all) before climbing back to around 12% and hovering around that level.

You'd be surprised to hear that I would have to agree with the government with this one- again discussed in detail in tomorrow's Hurriyet column. BTW, Daily News has the same story.

In The Life of David Gale, there was a scene where Kevin Spacey, playing a philosophy professor, was lecturing on fantasies. His argument was that fantasies, by default, should be unrealistic- the eziks fantasizing about winning the Ziraat Cup would be a perfect example.

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