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 campaign until the day he formed the thirteenth cabinet, he repeatedly made slogans about creating a boom in the Tehran Stock Exchange.
Some even claim that the impact of these slogans was such that without them, Ebrahim Raisi might have only managed to attract less than 15 million votes. Of course, there is no way to prove this claim, but overall, it can be said that the harmed residents of the capital market were among the groups who pinned a lot of hope on Raisi’s grand promises to perhaps recover some of their losses.
According to most stock traders, Ebrahim Raisi’s government dealt blows to the capital market that will likely have repercussions 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. Meanwhile, the first step to improving the situation of any stock market in the world is to avoid a directive economic model.
Iran Gate seeks to examine the stock market and the performance of the thirteenth government in this area in a three-part series. The present 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 his performance details and ultimately the outlook the thirteenth government has set for the capital market.
It feels like it was just yesterday.
Ebrahim Raisi and the candidates that Abdolnaser Hemmati called ‘cover candidates’ fed the society slogans during last year’s elections that have now been revealed to be baseless. Some have even gone further to claim that the cover candidates, with Raisi at the forefront, 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 new stock market entrants’ losses, 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 start. 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. In their view, comments from individuals like Ghasem Zadeh Hashemi and Zakani about the stock market clearly indicated that they had a relative understanding of the issue and did not themselves believe in the feasibility of their slogans.
However, examining the TV debates and Ebrahim Raisi’s statements during the elections shows that he not only lacks a proper understanding of the subject but fundamentally does not know the economy and consequently the stock market. Raisi repeatedly misused the keyword ‘directive economy’ during his election campaign to attract public opinion and especially shareholders, but his statements at that time indicated that the ‘champion of the deprived’ had no understanding of the concept of directive economics.
Therefore, it might be said that Ebrahim Raisi may have been 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 made promises to the stock market participants through a naive individual like Raisi that were proven baseless to everyone in less than two months after the thirteenth government began its work.
Jihadi Management Is the Main Accused
By examining the approaches of the thirteenth government in various economic sectors, it can be understood that the managers whom Mokhber and Raisi’s close associates brought into the thirteenth cabinet all have origins that conflict with Raisi’s alleged positions during the elections. From Hojatollah Abdolmaleki, the resigned Minister of Labor, to Seyed Ehsan Khandozi and Reza Fatemi Amin, all belong to a faction that calls itself jihadi managers.
Perhaps the best definition of jihadi management can be found among Raisi’s statements 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 his affiliated faction has no belief in avoiding directive economics. Tweets from individuals like Yaser Jebraili, who are close to some of the extremely hardline cabinet members, also indicate the destructive and ruinous positions of the thirteenth government’s managers in the economic field. This faction fundamentally does not believe in freedom in the economic arena and the implementation of free market policies, and manages the economy, like other areas, with a security perspective.
All these issues, which incidentally were clear and evident to analysts in the spring of 2021, summarize the state of the capital market in the year that has passed since the thirteenth government took office. Therefore, many stock market investors no longer have hope for the improvement of the market situation and believe that a government that has implemented the directive economic model with an unprecedented intensity does not intend to lift its hand from the throat of the Tehran Stock Exchange.
Various analyses and reports regarding the stock market and the economic situation of Iran have been prepared and organized in Iran Gate. For convenience, we have listed a few of them that are related to this topic below.
- How the Stock Market Shrunk Under Raisi’s Government
- Raisi’s Super Slogans Were Hot Air
- Improving Governance: A Word Game by Principlists