In Executive’s view of things that happened locally in January 2019, three incidents testified to the presence—and the perils of—irrational expectations. Such expectations actually work in two directions, with different attendant risks: The first direction is that of excessive enthusiasm, very well-known to the economically literate from the last global exposure to “irrational exuberance,” in the build-up to the Great Recession of 2007 —2009. The second, and even greater, danger of irrational expectations comes from the negative: the numbness of despair, the rage induced by fear, and, worst of all, the animalistic blindness of mindless panic. No one should and nobody—unless working with an ulterior motive—would pretend that there is any serious chance of irrational exuberance when contemplating the future of the Lebanese economy at the start of 2019. Neither does the country today harbor grand messianic expectations of another national political savior, as a conflict-fatigued people did in Lebanon
I don’t get the pessimism that you and that Arbid guy are trying so hard to draw on Lebanon, bleek future , devalued currency , economic fall out.. per say you went around a plethora of thought without evidence only to contribute a bet you had with your colleagues and you call that column news? Hmmm it seems to me you want Lebanon to fail or maybe another is in play for a beer with your buddies – hard stated facts- are out there.. the Lebanese economy is in trouble if it persists with the current status quo – but for now till 10 years The economy will remain what is called a zombie economy IF NO CORRECTIVE MEASURES TAKE PLACE. As for the Arab world they can help us or not but in the end it’s our choice to rectify the wrong we have and as you can Clearly hear – the Lebanese govt is working as we speak on rectifying measures.
Long live Lebanon and enjoy our Beer and hospitality
Jeremy ArbidFebruary 22, 2019 - 12:45 PM
Hard to comprehend what your point is from this comment, Khaled. As to your claim of pessimism and your claim of lack of evidence on Lebanon’s economic performance, I suggest you read our year-end 2018 coverage on the country’s economy. http://www.executive-magazine.com/economics-policy/everything-is-speculative
KhaledFebruary 25, 2019 - 11:15 AM
I’ve read all the posts that came out from Em but speculation is not the right word to use.. Lebanon for the medium term is fine and if laws are enforced to regulate the economy and abolish corruption and theft , the economy will flourish.. yes Lebanon is considered to have one of the highest debts in the world/ but even in that we need to differentiate what an external debt is from an internal- when writing column posts..
All I’m saying is rather than use a pessimistic impulse in writing , try to focus on the what can be done to rectify ..
Good luck
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3 comments
I don’t get the pessimism that you and that Arbid guy are trying so hard to draw on Lebanon, bleek future , devalued currency , economic fall out.. per say you went around a plethora of thought without evidence only to contribute a bet you had with your colleagues and you call that column news? Hmmm it seems to me you want Lebanon to fail or maybe another is in play for a beer with your buddies – hard stated facts- are out there.. the Lebanese economy is in trouble if it persists with the current status quo – but for now till 10 years The economy will remain what is called a zombie economy IF NO CORRECTIVE MEASURES TAKE PLACE. As for the Arab world they can help us or not but in the end it’s our choice to rectify the wrong we have and as you can Clearly hear – the Lebanese govt is working as we speak on rectifying measures.
Long live Lebanon and enjoy our Beer and hospitality
Hard to comprehend what your point is from this comment, Khaled. As to your claim of pessimism and your claim of lack of evidence on Lebanon’s economic performance, I suggest you read our year-end 2018 coverage on the country’s economy.
http://www.executive-magazine.com/economics-policy/everything-is-speculative
I’ve read all the posts that came out from Em but speculation is not the right word to use.. Lebanon for the medium term is fine and if laws are enforced to regulate the economy and abolish corruption and theft , the economy will flourish.. yes Lebanon is considered to have one of the highest debts in the world/ but even in that we need to differentiate what an external debt is from an internal- when writing column posts..
All I’m saying is rather than use a pessimistic impulse in writing , try to focus on the what can be done to rectify ..
Good luck
Comments are closed.