Public default
Emzar Jgerenaia
“Experience and history teaches us – nations and governments learn nothing from history!”
George Wilhelm Friedrich Hegel
It is hard to watch an upcoming raging wave of ten meters high; how tsunami is reaching and you are sitting in a small boat. Alternatively, you are running away like the hero of Georgian tale Tsikara and giants are chasing you, you want to take out of your pocket the magic comb and threw it away, but you don’t have it. Alternatively, like Natsarkekia (Georgian tale), you want to stick an awl into the shoulders of the giant but an awl is blunt. You want to shout – “wolf is coming”, but like Kajana you don’t’ have a voice.
It is strange why I remembered Tsikara during this raging crisis or where does the bull come in? It doesn’t bring you a happiness! Take as an example Merrill Lynch! You might remember how its bull was boasting and now it is jobless! Who cares for the bull of bankrupted company? You see, the bull died in the year of a bull. This is dangerous superstition! The story of a mouse accused in the crisis was more humane (2008 was the year of Mouse). They just arrested him. However, they haven’t condemned him yet. They couldn’t determine the motive of accusation as the defendant mouse wasn’t caught in the act of starting the crisis. Whose fault is this crisis? Why did they catch the mouse and what is the fate of the bull? Where has the “Invisible hand”, magician of the economy, stolen away? Why should state pay for the bonuses eaten by the top managers? – There are many questions like these ones. However, the most interesting question is what economic rules is using world today and where does the bull come in this bear trend?
Recently, at the award of small and average businessmen held by Chamber of Commerce annually, one celebrated businessman Mr. Jumber Khatiashvili expressed his opinion toward the crisis: some years will pass and world overcomes the crisis. Some new economical theories will be established and some people will be awarded Nobel prizes for that. We will learn lesson from this situation, but certainly, there will be other worse crisis that will be caused by other reason and different system. This is a curious situation. There is a saying that they won’t lock the barn door till after the horse is stolen. However, the horse is already stolen, but the barn door is not locked yet.
Moreover, last year we thought that everything bad already happened and the crisis was in its peak. Because of this we put everybody in jail, including the hero of the last year – mouse. However, it appeared that all was done in vain. The raging wave of crisis is reaching and this year will be most disastrous. What was called recession last year, now has become mature, strong and turned into crisis. If in next year, the crisis becomes stronger and turns into giant have a mercy upon us Lord. One might ask Tsagareli what animal is ruling the next year. How are the planets and Br—a disposed toward us? Moreover, can we take operation on stomach without necessity, as there will be shortage in food? Economic forecasts have lost the sense and maybe it’s better to listen to astrological prognosis. Maybe Tsagaerli will be able to solve the matter of economy’s fate, as the economic institutions keep the mum.
However, economic experts are “so scarce” nowadays that I won’t be surprised if one day we hear that economic expert Mikhail Tsagareli will speak about economic intentions of the planets and the state of demand-supply rule. Why not! He knows more about Bull and Mouse. Nobody is aware what kind of economy are we living in, so maybe planets are aware of these issues more. Maybe they know how to stop raging crisis, fill the sieve with water and return the debts by talking or in which constellation should we be now? I think it’s a good idea – astrologer and economic expert together – Mikhail Tsagareli. Does it matter will it be Tsagareli or Magareishvili? The value is one – nobody listens to them!
Meanwhile crisis is raging and coming. Mouse is in jail, bull is howling. We are not releasing this crisis and we are doing the right thing. Let it be in Wall Street! We will trust Tsagareli and if we do not be able to justify Hegel’s ideas, we will learn the lesson. The public default is taking a start now, as people won’t be able to pay the debts anymore. Maybe we should ask Tsagareli, when it would be better to pay the overdue debts and go on default.