Raisi’s Stock Market Promises: Slogans That Were Expensive Even When Free
Raisi’s Stock Market Promises: Slogans That Were Expensive Even When Free. According to Iran Gate, from the day Ebrahim Raisi entered the 2021 presidential election race until the day he formed the thirteenth cabinet, he repeatedly made promises about revitalizing the Tehran Stock Exchange.
Some even claim that the impact of these slogans was such that without them, Ebrahim Raisi might have only succeeded in garnering votes from less than 15 million people. Of course, there is no way to prove this claim, but overall, it can be said that the harmed investors in the stock market were among those who pinned great hopes on Raisi’s grand promises to possibly recover some of their losses.
According to most stock traders, Ebrahim Raisi’s government inflicted blows on the stock market that will likely have consequences felt for decades to come. These experts say that contrary to Raisi’s slogans, the thirteenth government has relentlessly pursued directive policies in all sectors of the country’s economy over the past year. This is while the first step to improving the situation of any stock market in the world is to avoid a directive economic model.
Iran Gate aims to examine the stock market and the thirteenth government’s performance in this area in a three-part series. The current report, as the first part of this series, examines the promises made by the head of the thirteenth government before assuming the presidency. The next parts will delve into the details of his performance and ultimately the outlook that the thirteenth government has set for the stock market.
It seems like it was just yesterday.
Ebrahim Raisi and the candidates whom Abdolnaser Hemmati called ‘cover candidates’ fed the public slogans during last year’s elections that have now been revealed to be baseless. Some have even gone further, claiming that the cover candidates, led by Raisi himself, were not only aware of the impracticality of their promises but deliberately tried to deceive public opinion to increase the vote count in Raisi’s favor.
Promises such as organizing the stock market in just 3 days, eliminating directive economics, compensating the losses of new stock market entrants, insuring the stock market, and confiscating the assets of those responsible for the current stock market situation were met with strong reactions from economists from the very beginning. However, those who had lost everything in the stock market saw no choice but to cling to these promises and were ultimately convinced to vote for Ebrahim Raisi.
Raisi Deceived the Stock Market
Economists, however, believe that the principlist candidates who came forward to support Raisi in the elections were fully aware of the baselessness of their promises. They argue that remarks from individuals like Ghazizadeh Hashemi and Zakani about the stock market clearly indicated that they had a relative understanding of the issue and did not believe in the feasibility of their slogans.
However, an examination of the televised debates and Ebrahim Raisi’s statements during the election period shows that he not only lacks a proper understanding of the issue but essentially does not know the economy and, consequently, the stock market. Raisi repeatedly misused the keyword ‘directive economics’ during the election campaign to attract public opinion, especially shareholders, but his statements at the time indicated that the ‘Seyyed of the Oppressed’ had no understanding of the concept of directive economics.
Therefore, it might be said that perhaps Ebrahim Raisi was unaware of the meaning of his promises, but the orchestrators of the 2021 elections were well aware that the structure of Iran’s economy does not allow any government to implement any of these slogans. In fact, the hardliners, using the words of an optimistic individual like Raisi, made promises to the stock market traders that were proven to be baseless to everyone in less than two months after the start of the thirteenth government.
Jihadi Management is the Prime Accused
By examining the approaches of the thirteenth government in various economic sectors, it can be seen that the managers brought into the thirteenth cabinet by Mokhber and Raisi’s close associates all have backgrounds that contradict Raisi’s claimed positions during the election days. From Hojatollah Abdolmaleki, the resigned Minister of Labor, to Seyyed Ehsan Khandozi and Reza Fatemi Amin, all belong to a movement that calls themselves jihadi managers.
Perhaps the best definition of jihadi management can be found in Raisi’s remarks during last year’s election campaign. He stated that the economy cannot be managed directive and from behind a desk; rather, a jihadi manager must be present in the field and diligently pursue the implementation of programs.
These statements from Raisi indicate that the associated movement has no belief in avoiding directive economics. Tweets from individuals like Yasser Jebraili, who is close to some of the extremely hardline cabinet members, also reflect the destructive and ruinous positions of the thirteenth government’s managers in the economic sphere. This movement fundamentally disbelieves in freedom in the economic arena and the implementation of free-market policies, managing the economy with a security-focused perspective similar to other areas.
All these points, which were clear and evident to analysts even in the spring of 2021, summarize the state of the stock market in the year that has passed since the thirteenth government came into power. As a result, many stock market investors no longer hope for an improvement in the market situation and believe that a government that has implemented the directive economic model with unprecedented intensity has no interest in lifting its hand from the throat of the Tehran Stock Exchange.
Numerous analyses and reports regarding the stock market and Iran’s economic situation have been prepared and compiled in Iran Gate. For convenience, a few of them related to this matter are listed below.
- How the Stock Market Shrunk Under Raisi’s Government
- Raisi’s Super Slogans Were Hot Air
- The Improvement of Governance: A Word Game by Principlists