Petr Holub: Carpe diem. A new mood is spreading in the country | iRADIO

Above all, the fact that it is clearly positive news after long periods of economic depression and, with it, commentary. Since the covid pandemic and the lockdowns associated with it, the domestic economy has been languishing below the level of 2019 for a long time, and all promises and forecasts that conditions will improve have turned out to be in vain.

Petr Holub: Carpe diem. A new mood is spreading in the country

Now, however, it is almost certain that the turn has occurred. The balance sheet improved for the second quarter in a row, and if the quarterly pace were converted to a full year, domestic product would grow by two percent. The economy can be expected to continue to accelerate during the year. It is written about in forecasts, examples from comparable countries testify to it, according to surveys, people believe in a bright tomorrow, they start spending, and above all, there is still much to improve in the domestic economy.

After all, it can be seen in everyday life as well. There are more delivery service cars on the streets than ever before, shopping centers and restaurants are full of people, and with the onset of spring, tourist destinations are becoming more crowded.

Awakening from a four-year slumber

Now all that remains is to wait for the export industry and the construction of apartments to start, and also for the better availability of energy to be reflected in consumer prices.

Such a summary of good news has not been available for a long time, yet it must be admitted that it is not so dramatic. If something doesn’t threaten me, in this case the development of the economy, I lose interest in the topic.

The saving grace for journalists is that this year’s economic restart and the accompanying improvement in the mood in society have something unusual in them. This peculiarity was best described by the economist Helena Horská, who described Czech consumers, i.e. ordinary Czechs, as reasonable people, but with a slight tendency to manic-depressive behavior. This is also confirmed by all surveys of past years.

Sharp changes in mood began during the pandemic, at the beginning of which the Czechs first fell for their government, only to stop trusting it almost completely a year later. After the Russian invasion of Ukraine and the sharp increase in energy and food prices, all the economic fears that had accumulated over decades came true, and the Czechs became the most skeptical nation in Europe.

A partial return of optimism occurred before the beginning of last year, the improvement in mood among consumers was the largest in Europe, but it was still not enough for people to start behaving differently than before and, for example, to stop saving. The return of optimism at the beginning of this year had an even greater intensity, incomparable with other countries and the history of the Czech Republic in the last 30 years.

Something has happened, things have been set in motion, and now it’s just a matter of how it plays out in the public sphere. So far, it seems that the Czechs have overcome the depression and are starting to behave normally. If it ends there, then it’s won. However, the euphoria can break free from the chain according to the saying “carpe diem”, which can lead to overheating of the economy, return of inflation and indebtedness of a large part of the population.

A change in mindset in society can also cause a political upheaval that no one has yet anticipated.

In a nutshell: The news that the economy is waking up from a four-year slumber holds unexpected potential for news stories. What if we start to exaggerate our enthusiasm for the return of prosperity, thereby causing carambolas and disasters similar to those of the past? Then the current good news would be news after all.

The author is a reporter for the Seznam Správy server

Petr Holub

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