Friday, December 31, 2010

It is almost midnight...

...at least in Turkey. So I just wanted to wish all a Happy New Year!

The Fab. 4 once said money can't buy you love, and economists are still debating whether it can buy happiness, although it is common thing to throw in the utility function, either directly or as consumption (you need money to consume, after all). 
So I am not sure if anyone would say no to yet another drop of money from Helicopter Ben or his ECB counterparts. In fact, it was these two who, with all their liquidity injections, caused an inflow of return-hungry capital to emerging markets like Turkey. But as a result, your friendly neighborhood economist's 2011 projections were all messed up. More importantly, as recently admitted by CBT Governor Durmus Yilmaz especially the latest ECB measures drove Turkey to what I deem as weird and dangerous policy mix

Therefore, there are quite a few people in Turkey who believe money can't buy happiness, but there is still nothing preventing me from wishing a Happy New Year, with or without money...

5 comments:

Rower32 said...

Happy new year to u 2 TSL inflated ego neighborhood economist! We be toasting for all TSL economists of the universe tonite. Peace!

Emre Deliveli said...

Yep,sometimes I think that maybe "Black Swan" Taleb is right noting that economists do more harm than good and that the profession is bogus... Of course, he is talking about TSL macro forecasters rather than more harmless guys, like game theorists, or even potentially beneficial ones, like development economists:)...

Anyway, thanks for your wishes...

Anonymous said...

Happy New Year to you too. FYI; one of my resolutions for the New Year is to continue criticizing you until you realize that your so-called economics blog HAS to become just that and not a space where you take advantage of readers' time and patience to satisfy your highly inflated ego.

Emre Deliveli said...

@ Anonymous: Thanks for stopping by; I was starting to miss you:)! And I am glad that I was not able to trick you into believing that I do not have an inflated ego by calling myself a "sore loser":)

BTW, one of MY resolutions for the New Year is to continue not to take your criticisms seriously as long as you continue not to provide any backing/substance to your critiques/claims. Especially because nobody (I hope) is putting a gun to your (or anyone else's for that matter) head to read my posts/columns:)

So I guess we'll have another year where you'll sometimes drop by and say I have an inflated ego and/or no analysis, and I will have to laugh it off.

I am saying "have to" because joking aside, I would have responded to your critiques if I knew how to. But I still don't see why you think I have an inflated ego and why even very technical columns such as those on monetary policy, have, according to your expert opinion, no analysis.

I have had very constructive critiques from friends and readers, but unfortunately not even one from you. Actually it is not that difficult: All you'd have to do would be to add a because: "You have an inflated ego because..." or "You have no analysis because..."

I have always been an over-optimistic person, so despite no logical reason for me to do so, and every indication that I should not, I am still hoping for one constructive critique from you. So why don't you make another New Year's resolution: To provide me with at least one "useful" critique this year...

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