Turkey: Collapse or Secularism?

[Tshering22]

Turkey has started to seriously struggle. Turkish people are mighty pissed.

 

[Angel of War]

Turks are wonderful people but they are being ruled by a brainless , egoistic dicatator who dosen't know the basics of managing a countrys' money . As a result their economy is in deep shit and lira is devaluating faster and faster . Now he is doing some experiments with the economy instead of actually focusing on the core problem of high borrowing costs and overpriced commodities

Erdogan's risky 'experiment' to heal Turkey's economy

President Tayyip Erdogan has set Turkey's $720-billion economy on a risky new path of aggressive interest rate cuts that he says will boost jobs, exports and growth and paradoxically stem soaring inflation and a currency meltdown.

www.reuters.com

2018–2021 Turkish currency and debt crisis - Wikipedia

en.m.wikipedia.org

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[asianobserve]

Turkey is imploding... Lira slump 15% against USD in 1 day!

Will this signal the end of Erdogan or majority of Turkish population double down on his insanity?

Lira collapse leaves Turks bewildered, opposition angry

Lira collapse leaves Turks bewildered, opposition angry

Anxious Turks struggled to keep up with a bewildering collapse in their currency and the main opposition party leader said the country was experiencing its darkest "catastrophe" as the lira slumped 15% on Tuesday against the dollar.

www.reuters.com

 

[IndianSpiderman]

Erdogan has picked up fights with almost every country in the region (and beyond) even as Turkey was going through protracted economic woes. Now they're in a full blown economic crisis rivaled only by the crises in Zimbabwe and Venezuela in the recent past. I don't think European powers are just going to let Turkey collapse though since the country is a buffer zone between Europe and the madness in Syria and Iraq.

 

[Dharmic_Crusader]

 

[Angel of War]

50% , it means that the situation in turkey is really bad.

 

[doreamon]

Really curious .. they are releasing more cash to the economy whn there is inflation . ..

 

[Covfefe]

Mashallah Ertughul Ghazi Reception Tapri Erdogaand

 

[FalconZero]

Mashallah Ertughul Ghazi Reception Tapri Erdogaand

Is there any case of a country benefitting from inflation, what if you produce of basic needs in house and export a lot, say in case of turkey drones etc.? Can it benefit their defense exports?

China is such example?

 

[THESIS THORON]

ERDOG IS TRYING TO FUCK ECONOMY


NOTE: cindrella lover's future might get wrecked after seeing this

Spoiler

 

[IndianSpiderman]

 

[asianobserve]

Appeal to religious fervor is a favorite tool of despots.

 

[IndianSpiderman]

I remember when the lira depreciated sharply in 2018, the Indian Rupee and some other emerging market currencies also followed suit since they make up a basket of currencies that are usually bought or sold together by investors. That's not been the case this year. Their love for Turkey has been exclusive this year.

 

[Covfefe]

View attachment 125888

Is there any case of a country benefitting from inflation, what if you produce of basic needs in house and export a lot, say in case of turkey drones etc.? Can it benefit their defense exports?

China is such example?

Role of currency devaluation in exports is always overestimated. More often than not, it leads to stagflation or hyperinflation. Turkey, for example, just had to increase its minimum wage by 50% and the other local commodities would have also become expensive. Imported commodities(which is a lot in case of Turkey) anyway don't give two hoots to your local currency. China has devalued currency but always in limits. Look at their inflation trend right from the 90s hardly a few times in double digit. They focused on all the other factors of production(like concentration camp free labour and stuff) and they reached this state. Erdogan is a clueless mfer who's ramming Turkey's economy into a community trashbin

 

[Alfalfa]

Always good to see the Argentinian Peso ensure its presence at the bottom of every list... fine company Turkey is in

 

[IndianSpiderman]

Turkey's economy has been regressing for a while now. Its GDP this fiscal is projected to be around about as big as it was back in 2008. The country is in imminent danger of going from a (former) high income status to a lower middle income one. It's something that (I think) is without precedent.

 

[JBH22]

Anyone noticed about Russian Ruble.
Russian economy has one of the lowest Debt to GDP Ratio, High FOREX reserves backed by huge gold reserves.
Despite local discontent, Russians have decided not to dole out subsidies,but instead adopted a prudent fiscal policy. No unnecessary chills or thrills.

https://www.bloomberg.com/news/arti...lion-reserves-now-hold-more-gold-than-dollars

With regards to Turks, well its better they fuck up their economy. The moment you get close to Pakistani panauti it was bound to happen

 

[Spitfire9]

Just as well that Turkey does not have a contract to buy F-35 and associated materiel any more. With the depreciation of the lira, the package would cost many more lira than anticipated.

 

[Tshering22]

Turkey's economy has been regressing for a while now. Its GDP this fiscal is projected to be around about as big as it was back in 2008. The country is in imminent danger of going from a (former) high income status to a lower middle income one. It's something that (I think) is without precedent.

Turkey is a middle income country right? It was never 'high' income which starts around $20K/pa. I am curious to know what school of economics is the man following. Turkey is going the Lebanon way. If he continues for the rest of his term, he will end up destroying his country (apparently the elections are due in 2023).

Chances are that Al Germany with its new commie Chancellor will step in to save the Turkish economy to avoid a deluge of refugees. Germany has made heavy commercial investments in the Turkish economy, including allowing Turkish investors to borrow freely from German banks.

It is a good country & at one time was trying its best to get close to us under former PM, Bulent Ecevit.

He was the first and only Turkish PM to take an official neutral stand on Jammu & Kashmir during ABV government & promoted Indo-Turkish relations. But then again, he was from the opposition CHP which was more concerned about economy, nationalism, security & further integration into the European Union.

 

[Super Flanker]

Turkey is on it's way to becoming a failed state just like it's islamic country brother Pakistan. Just wait and watch and mark my words! I have a strong feeling that it will happen from my Personal Perspective! Let's see what the future holds. Turkey's economy is getting fucked day by day! And progress is being made!