Crisis, Shmisis...
22 May, 2015
Crisis, Shmisis...
Economic Crisis! Do­es this sound overly loud? People are talking broadly and extensively about financial crisis in Georgia. The talk is interminable, ubiquitous and persistent. Some are talking about it assuredly, some are commenting diffidently and some are saying that there is no crisis at all. What is a financial crisis after all? The current prattle about economic and financial situation in Georgia is so hazy that I am getting awfully mystified when listening to those making-no-sense deliberations. This is
why I am scurrying away from the irritating nonsensical discourse on the subject to delve into my dictionary and pull out a definition of crisis from it. One of them says that the financial crisis is a situation in which certain financial assets suddenly lose a large part of their nominal value. I have no stocks and bonds or any other securities, but my recently checked available financial assets were 1250 lari and 925 dollars. When I measured their current value and compared it with what they could buy half a year ago, I came up with approximately twenty percent difference in their purchasing power then and now. Therefore, my judgment is that, personally for me, the fulltime crisis is not yet here, but it is crouching on me little by little, based on the above definition. How is the Lari crisis felt in particular? Here is an example from my private experience again: in the corner of the street where I am dwelling, there was a grocery which I loved to frequent. It has been there since I remember myself on the block. The girls working there were extremely helpful and the products were also satisfactory in compliance with the existent standards in Georgia. And behold, this morning I decided to run by the store to replenish my fridge, but the door of the joint defied opening. It was firmly and resolutely locked. I felt some kind of cold, breezing on me from inside the shielding iron bars with no light inside the premise. The cold I felt was a sure sign of the crawling crisis. Later, I heard that the owner could no longer pay the rent because of the growing difference between GEL and $ – he earned in lari and paid in dollars. Too bad – I loved the place. OK, I can easily take it in my stride. I will go to another grocery after all, but how about the people who worked there and their bankrupt boss? Out of work and out of business, respectively! They have disappeared from my neighborhood as if they have never been there before. Something similar has happened to my beloved café in the vicinity of my abode, a currency exchange booth across the street and a beauty parlor next door. So do we have economic crisis or not? If we do, what are the symptoms? If not, why is there so much talk about it? And why are so many small, businesses vanishing into nonexistence nowadays in Georgia? Could this be only a political talk? The talk which the politicians talk with the purpose of consolidating their ranks and perpetuating their models of governing the country? Recessions and depressions are happening in any economic culture no matter how reasonable, justified and acceptable their regimes happen to be politically. In Georgia, the reaction to the incipient advent of crisis, any crisis, is either overestimated or downplayed, which I think is a plain anomaly. Reaction to any phenomenon, weather negative or positive, needs to be balanced and unprejudiced, and certainly, not motivated only by political ambitions and goals. Here, in our socio-economic and political reality, everything is either exaggerated or downplayed. Political evaluations of the situation that we hear around all the time are either distressing or elated. Available are either understatements or overstatements. We have no ability or desire to walk in the median as for example the great lover of moderation Aristotle would have recommended doing. The government is inclined – totally irrationally and unjustifiably – to insist that the financial crisis in Georgia is only rumored and imaginary, invented by the vicious opposition who would gladly applaud Georgia’s economic demise, triggering the likelihood of their return to power. In a word, according to the current Georgian administration, the crisis is only a ghost, made up by the bad guys – their political opponents. Conversely, the opposition has a proclivity to move heaven and earth for proving that the crisis is indisputably real and present, propelling the nation towards inevitable devastation. The government’s favorite and most recurrently used household phrase has become – no worry, all is good. And the opposition’s most habitually heard key word of mouth is – look out, the country is gone. Nobody says what is happening in fact. No solid economic forecast! Nobody knows what to be ready for. Political teams have found themselves entirely at a loss when confronted with people on the subject of their daily subsistence. Meanwhile, grass roots are getting feebler and skinnier, gradually withering away and drying out. Crisis, shmisis – who cares! Who needs that sickening political gibberish! Give me my daily piece of bread instead, and put a little butter on it if you can. Period! Incidentally, economic crisis could somehow be surmounted if we use our smarts, but if it tends to turn into a political one, the consequence could really be dire. It really could!

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GEL Exchange Rate
Convertor
12.11.2018
13.11.2018
USD
1
USD
2.7146
2.7166
EUR
1
EUR
3.0800
3.0602
GBP
1
GBP
3.5325
3.4900
RUB
100
RUB
4.0430
4.0131
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GEL Exchange
USD
1
USD
2.7166
EUR
1
EUR
3.0602
GBP
1
GBP
3.4900
RUB
100
RUB
4.0131
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