Cyprus-Forum.com

[Kikapu]

Turkey has lost one more place on the world’s GDP list to Switzerland. Erdogan was hoping to make Turkey the world’s 10th largest economy few years ago from 17th place, but now has fallen to 19th place if we exclude the EU areas GDP. No doubt the weakness and the constant depreciation of the Turkish lira against the US Dollar is the main cause.

55B8C609-54EA-43FB-ABBD-B401953802BA.png

https://tradingeconomics.com/

However USA has 123 Trillion debt.
UK has 2.4 Trillion debt (4.5 Trillion with when my pension is included)

We can subtract 100 Trillion from your claim for the USA down to 23T.

Enjoy. I did not make it up. Honest gov.

https://www.visiontimes.com/2021/04/29/us-national-debt-123-trillion.html

Yes, you are including future debts for unknown period of time for various future services.

I am not, they are, and they are right. You cannot ignore the future payments of people alive today especially pensions and medical care. It is a far more accurate that simple shop financial calculations of todays trade as it were.
Not that different to what corporations do with the pension pot. They use it for theit personal use and when the time comes the pot is empty.

This statement is from your link.

By comparison, the Department of Treasury calculates federal debt at $28 trillion. The gigantic discrepancy between the two figures is because the Treasury does not include proposed future spending.

[Lordo]

Turkey has lost one more place on the world’s GDP list to Switzerland. Erdogan was hoping to make Turkey the world’s 10th largest economy few years ago from 17th place, but now has fallen to 19th place if we exclude the EU areas GDP. No doubt the weakness and the constant depreciation of the Turkish lira against the US Dollar is the main cause.

55B8C609-54EA-43FB-ABBD-B401953802BA.png

https://tradingeconomics.com/

However USA has 123 Trillion debt.
UK has 2.4 Trillion debt (4.5 Trillion with when my pension is included)

We can subtract 100 Trillion from your claim for the USA down to 23T.

Enjoy. I did not make it up. Honest gov.

https://www.visiontimes.com/2021/04/29/us-national-debt-123-trillion.html

Yes, you are including future debts for unknown period of time for various future services.

I am not, they are, and they are right. You cannot ignore the future payments of people alive today especially pensions and medical care. It is a far more accurate that simple shop financial calculations of todays trade as it were.
Not that different to what corporations do with the pension pot. They use it for theit personal use and when the time comes the pot is empty.

This statement is from your link.

By comparison, the Department of Treasury calculates federal debt at $28 trillion. The gigantic discrepancy between the two figures is because the Treasury does not include proposed future spending.

Of course the Treausry department wil lsay that. A little bit like how the Office of National Statistics only counts the covid deathswhich had been tested no more than 28 days ago. Surely the money to be paid out next year must be included in the debt because it has to be paid. Which government in the world has been honest with their public?

[Maximus]

Alright people,

I have just finished mapping the alignment of stars and calculating the trajectory of cosmic forces and think that;

The USDTRY rate of exchange will reach 10.00 before the end of this year.

In other words 1 USD will buy 10 TRY at some point, before the end of this year.

Do you agree or disagree?

State your opinion,

cyprus47377-170.html#p906281

I said this in March.

1 USD buys 10.40 TL today,

1 EURO buys 11.75 TL today.

And the man, not content with the battering of his countries economy wants to cut interest rates some more,

while central banks of major western economies are starting to talk about rate hikes.

[Kikapu]

Alright people,

I have just finished mapping the alignment of stars and calculating the trajectory of cosmic forces and think that;

The USDTRY rate of exchange will reach 10.00 before the end of this year.

In other words 1 USD will buy 10 TRY at some point, before the end of this year.

Do you agree or disagree?

State your opinion,

cyprus47377-170.html#p906281

I said this in March.

1 USD buys 10.40 TL today,

1 EURO buys 11.75 TL today.

And the man, not content with the battering of his countries economy wants to cut interest rates some more,

while central banks of major western economies are starting to talk about rate hikes.

The Turkish Lira has been taking it in the ass big time the last couple of weeks and no doubt it will continue to do so as the US dollar makes gains due to rise in US interest rates as inflation too has risen there. The TL has been one of the “weakest links“ in currencies market amongst countries with poor economies, which Turkey is almost up there with Venezuela. Add to all the political shenanigans and corruption in Turkey and sanctions by the EU and the US, the TL will need Vaseline by the barrel to ease the pain.

[Maximus]

it wont recover until erdogan is gone and the central bank becomes independent.

by that time, the banks governor will have to hike interest rates beyond 30%.

Because other major central banks will likely be raising their interest rates and the differential with the TL will get narrower.

This is not a good thing for the Turkish economy,

Either way, erdogan has pummeled the next two generations with "justice and development" just so they can recover.

[erolz66]

Its so bad they may need capital controls like limiting how much can be taken out of cash point machine at a time and to haircut bank deposits.

Now why does that sound familiar ?

[Maximus]

Its so bad they may need capital controls like limiting how much can be taken out of cash point machine at a time and to haircut bank deposits.

Now why does that sound familiar ?

Its not just that mate,

How about the inflation running at near 20%, and the rest.

if the economy was the only problem

Turkey would not have become a terror financing and human trafficking hub.

[Kikapu]

“Economist“ Erdogan has the “Midas Touch” in how to devalue the Turkish Lira 1USD=11,10TL by reducing interest rates to 15% when inflation is running at 20%.

[Maximus]

“Economist“ Erdogan has the “Midas Touch” in how to devalue the Turkish Lira 1USD=11,10TL by reducing interest rates to 15% when inflation is running at 20%.

I just saw that,

TL nearly hit 13 to the euro today.

[Maximus]

Erdogan wont stop until interest rates are at 0%.

If 15% is better than 18%, then surely he must be thinking that 0% is better than 15%.

After all, interest rates are against his religion.