Turkish Economy - News & Updates

[q12093487q]

The crash of lira almost crashed my currency app，I swear I never saw something like this

Be careful guys,it won't be a peaceful week for the global market

 

[xenon54 out]

SON DAKİKA: Berat Albayrak: Kurdaki gelişmeler çok net bir saldırının göstergesi

Onlar konustukca lira batiyor, ülke yönetemi degil mahalle kahvesi sanki.

Bununla kiyaslarsak nerden nereye.

 

[Faith_of_the_Fallen]

Turkeys trade volume with USA is how much? $10 billion. How much attributable of steel and aluminum?



Sorry, that’s bullshit. You don’t need to be a professor of economics to be financial ministers. Or do you really thing a minister of Defence must be a high decorated military.



In Turkey impossible. They have a man who wants to control everything. No place for independent committee.

It is a terrible message to the market to put your son in law in charge of economy. However, i must state that he is not an empty person; he has an academic background on economics. His past ministry on energy is deemed to be successful by many people. He knows the rules of economy (unlike Erdoğan master of politics but ignorant on anything else that matters), however Berat Albayrak has a lot of prejudice to break (being Erdoğan's toy boy) until investors and creditors take him seriously.

 

[Bismarck]

A simple decision shows the real power, or should I say weakness of Turkey. Self-esteem, arrogance is not healthy or smart. Even a powerhouse like China hide his real possible power. Maybe I will get a warning, but I know this from most Turks. Self-esteem and cocky behavior without any substance. Even if you have this power, it is anything else than smart, to show your real force. Maybe equally, you lost many friends and partners and make yourself many enemies with this behavior.

 

[what]

Worst poll of all time

 

[SouI]

Worst poll of all time

Wow I just took a look and my eyes started to bleed:

1. The on going Trump attack on Turkish Economy
   7 vote(s)
   19.4%
2. 
   Jewish Agenda to weaken adjacent countries to Israel
   11 vote(s)
   30.6%

Those who voted for these options should be found out and be perma-banned for being far too ignorant to be in an international platform.




Btw USDTRY is far too volatile right now, jumping between 7.2 and 6.75.

Morning will be very interesting!

 

[Vassnti]

15% inflation and increasing,
banks holding debts. in Euro and USD
erdogan wont raise interest rates to boost the Lira
All the above create a cycle where people pull assets out and new investment drops making things worse
Trump being a pita adds a few points to the problem but if it was all him then the Canadian dollar would be crashing as well.
The last thing Israel wants is another Islamist basket case in the area, they are probably dreaming of the Turkey of 15 years ago and wishing they had interfered.

 

[GeraltofRivia]

Apparently there are a number of related issues and the most important one is over reliance on external funds to finance the economic expansion. It is due to low domestic saving rate, which means funding has to be sourced externally, particularly from European institutions/ investors. The thing is exteral funds are highly rate driven and risk averse. When Turkish economy is going south, they are rushing out the door as we have seen at the moment.

 

[Nein]

Its the jews, feto or maybe the aliens.

Economy can get screwed up by both external and internal factors. But Erdogan has literally found a scapegoat and his stupid supporters are going by it.

If nothing is done Turkey is literally going to crumble when it comes to the economy and the words used by Erdogan and various politicians literally gives no confidence to anybody.

 

[Nein]

I dont get it if Tayyip calls himself a grandson of the Ottomans.

The Ottomans would literally execute Tayyip for crashing the economy LOL

 

[CAN_TR]

I dont get it if Tayyip calls himself a grandson of the Ottomans.

The Ottomans would literally execute Tayyip for crashing the economy LOL

The ruling dynasty was called Ottomans, the regular people were just Turks, Arabs, Bosniaks...

In his dreams, maybe .

 

[Faith_of_the_Fallen]

Apparently there are a number of related issues and the most important one is over reliance on external funds to finance the economic expansion. It is due to low domestic saving rate, which means funding has to be sourced externally, particularly from European institutions/ investors. The thing is exteral funds are highly rate driven and risk averse. When Turkish economy is going south, they are rushing out the door as we have seen at the moment.

Energy dependence is also a major factor. It also plays a role in trade deficit too. Too late to make a step to turn to nuclear energy in order to deal with it.

 

[Faith_of_the_Fallen]

A simple decision shows the real power, or should I say weakness of Turkey. Self-esteem, arrogance is not healthy or smart. Even a powerhouse like China hide his real possible power. Maybe I will get a warning, but I know this from most Turks. Self-esteem and cocky behavior without any substance. Even if you have this power, it is anything else than smart, to show your real force. Maybe equally, you lost many friends and partners and make yourself many enemies with this behavior.

The kind of behaviour you descibed is displayed usually by ignorant poor masses which get their news from the media pool of AKP. I get that those people need to have something to be proud of in order to find some meaning in their life. It is not harmful to be proud of who you are, since we know that EU countries would love to crush Turkey like a bug if they ever could get the chance. However it is those nations, which learn lessons from their mistakes, will prosper. The lesson is that Turkey-EU relationships are not based on friendship. Turkey will never get the same treatment as a fellow European country. We need to get rid of economic and military dependencies one by one, until then Turkey will not negotiate with EU on equal footing. Turkey needs to look for new alliances based on some semblance of sincerety, since it is obvious that Europeans clearly expressed that Turkey has no place in the West. There are millions of people like me who can look at the situation objectively that EU is a christian club and EU considers Turkey as a buffer zone. Europeans are not foes but definitely not my friends either. People think Turkey behaves maliciously against EU (it is all words and populism by Erdoğan but no concrete action); EU community did never get to see a real malicious attitude from Turkey yet. Let them close all Turkish mosques, and deal with Wahhabi Saudi and North african teachings then.

 

[Bismarck]

The kind of behaviour you descibed is displayed usually by ignorant poor masses which get their news from the media pool of AKP. I get that those people need to have something to be proud of in order to find some meaning in their life. It is not harmful to be proud of who you are, since we know that EU countries would love to crush Turkey like a bug if they ever could get the chance. However it is those nations, which learn lessons from their mistakes, will prosper. The lesson is that Turkey-EU relationships are not based on friendship. Turkey will never get the same treatment as a fellow European country. We need to get rid of economic and military dependencies one by one, until then Turkey will not negotiate with EU on equal footing. Turkey needs to look for new alliances based on some semblance of sincerety, since it is obvious that Europeans clearly expressed that Turkey has no place in the West. There are millions of people like me who can look at the situation objectively that EU is a christian club and EU considers Turkey as a buffer zone. Europeans are not foes but definitely not my friends either. People think Turkey behaves maliciously against EU (it is all words and populism by Erdoğan but no concrete action); EU community did never get to see a real malicious attitude from Turkey yet. Let them close all Turkish mosques, and deal with Wahhabi Saudi and North african teachings then.

Yes, the whole world wants to destroy you. If this is true, you think on yourself, but this is too much to ask. Never look on yourself, always search failers by the others. Reflection is not your thing. Any form of criticism is considered an attack on the nation and honor. Yes, Trump pour oil into the fire, but it was not he to decided that Erdogan should control central bank with Islam rules (no interests) and nepotism (his son of law is financial minister). This deters investors. Many reforms are waiting which are not made. Criticism is the biggest driver for further development.

 

[Bismarck]

Energy dependence is also a major factor. It also plays a role in trade deficit too. Too late to make a step to turn to nuclear energy in order to deal with it.

You can solve this problem in a middle/long term by cheap energy from Azerbaijan and north Iraq. Also, by nuclear plants and renewable energy (sun, water and geothermal). Your problem is still goods from China.