Instabilities, nonhermiticity and exceptional points in the cranking model

A cranking harmonic oscillator model, widely used for the physics of fast rotating nuclei and Bose-Einstein condensates, is re-investigated in the context of PT-symmetry. The instability points of the model are identified as exceptional points. It is argued that - even though the Hamiltonian appears hermitian at first glance - it actually is not hermitian within the region of instability.