The Best Cyprus Community

Skip to content


Turkey is bankrupt

Feel free to talk about anything that you want.

Re: Turkey is bankrupt

Postby Maximus » Thu Nov 25, 2021 9:09 am

I know interest rates are practically nothing and inflation is higher in the eurozone, the UK and in the US.

Does that change the fact that Turkey's economy is really fckd and the TL is the currency diving to oblivion?

Total posts - 6293
Posts that contain the word Turkey - 2563 or 40.74% of all posts

^ I updated it for you.
Maximus
Main Contributor
Main Contributor
 
Posts: 6326
Joined: Wed Aug 10, 2011 7:23 pm

Re: Turkey is bankrupt

Postby erolz66 » Thu Nov 25, 2021 9:38 am

9% gdp growth is not what a 'fucked economy' delivers ?

Erdogan is pursuing gdp growth at the cost of inflationary hardship for its citizens. So is Europe , UK and US. The degree is greater but it is the same plan. I think it is a stupid plan and I think the pursuit of growth at such a cost is the wrong thing to do but it is what everyone has been doing since the global crash in 2008. Inflation is going to hurt ordinary Turkish citizens just as it is going to hurt, is hurting, ordinary UK citizens and EU citizens and US citizens. It is going to get a lot worse before it gets better. Rough times ahead for Turkish citizens. Rough times ahead for everyone.
erolz66
Main Contributor
Main Contributor
 
Posts: 4318
Joined: Sat Nov 30, 2013 8:31 pm

Re: Turkey is bankrupt

Postby Maximus » Thu Nov 25, 2021 9:46 am

erolz66 wrote:9% gdp growth is not what a 'fucked economy' delivers ?

Erdogan is pursuing gdp growth at the cost of inflationary hardship for its citizens. So is Europe , UK and US. The degree is greater but it is the same plan. I think it is a stupid plan and I think the pursuit of growth at such a cost is the wrong thing to do but it is what everyone has been doing since the global crash in 2008. Inflation is going to hurt ordinary Turkish citizens just as it is going to hurt, is hurting, ordinary UK citizens and EU citizens and US citizens. It is going to get a lot worse before it gets better. Rough times ahead for Turkish citizens. Rough times ahead for everyone.



Turkeys GDP per capita is $9000 in 2021 vs $12500 in 2013.

A 28% reduction in earnings, despite the economy growing by 9%.

That is what a fckd economy delivers.

Is it the same in the UK, EU and US?
Maximus
Main Contributor
Main Contributor
 
Posts: 6326
Joined: Wed Aug 10, 2011 7:23 pm

Re: Turkey is bankrupt

Postby erolz66 » Thu Nov 25, 2021 10:03 am

erolz66
Main Contributor
Main Contributor
 
Posts: 4318
Joined: Sat Nov 30, 2013 8:31 pm

Re: Turkey is bankrupt

Postby Maximus » Thu Nov 25, 2021 10:28 am

thank you for that Erolz,

But this man is more knowledgeable.

Ali Babacan, who for years served as an economy chief in Erdogan’s government and now heads the opposition Deva party, accused him of “bankrupting” the country

Turkey is bankrupt

https://www.ft.com/content/42c4a40c-8ae ... a5208a12f9
Maximus
Main Contributor
Main Contributor
 
Posts: 6326
Joined: Wed Aug 10, 2011 7:23 pm

Re: Turkey is bankrupt

Postby Maximus » Thu Nov 25, 2021 10:47 am

I expect hyper-inflation, a run on the banks and capital controls to be implemented soon.

How soon, I dont know. I started this thread in April of 2020. I dont have a Crystal ball, just a little foresight.

Errordoagain is on a trajectory that probably wont change, at least until after the next election.

He wants lower rates again in December, and we see the predictable results of this.

So for the time being, he is driving the country to the precipice and the reality will eventually kick in,

Turkey has run out of money and doesnt have enough liquidity to service her debts.
Maximus
Main Contributor
Main Contributor
 
Posts: 6326
Joined: Wed Aug 10, 2011 7:23 pm

Re: Turkey is bankrupt

Postby Londonrake » Thu Nov 25, 2021 11:09 am

Londonrake
Main Contributor
Main Contributor
 
Posts: 3104
Joined: Tue Dec 29, 2015 6:19 pm
Location: ROC

Re: Turkey is bankrupt

Postby Pyrpolizer » Thu Nov 25, 2021 1:12 pm

I can't hide my joy of what happens to TL, which is obviously bad.
The reason is because Turkey is an enemy and the worse it does the better for us.

Btw RoC banks have a lot of TCs that took loans in foreign currency. Starting getting non-serviceable... We will never learn in this country.

I would be very glad if Robin Hood could join this discussion. Perhaps he would be the most appropriate person to describe the situation with the Bitcoin and other cryptos. For me Bitcoin is absolutely fiat, more than anything else. What I can't digest is how on earth the Banks globally do enforce countless of measures against money laundering, and yet they do exchange bitcoins -which is actually the new fashion in money laundering- with no questions asked.
User avatar
Pyrpolizer
Leading Contributor
Leading Contributor
 
Posts: 10684
Joined: Wed Mar 29, 2006 11:33 pm

Re: Turkey is bankrupt

Postby Maximus » Thu Nov 25, 2021 1:49 pm

one problem with that though Pyrp is the average Turk will want to get out of the country.

And then it becomes a problem for EU countries. As they join the ever growing march of illegal migrants westward.

I am talking about the same kind of idiots that were dreaming of a neo ottoman empire and supported aggressive policies with their neighbors.

When they make their country destitute, they will try and run to Athens and watch Turkish jets flying over the Aegean.

Disgraceful.

Cyprus already has a big problem with illegal migrants and crossing and over the green line. Cyprus dont need more of that shit.

:roll:
Maximus
Main Contributor
Main Contributor
 
Posts: 6326
Joined: Wed Aug 10, 2011 7:23 pm

Re: Turkey is bankrupt

Postby Pyrpolizer » Thu Nov 25, 2021 4:37 pm

Maximus wrote:one problem with that though Pyrp is the average Turk will want to get out of the country.

And then it becomes a problem for EU countries. As they join the ever growing march of illegal migrants westward.

I am talking about the same kind of idiots that were dreaming of a neo ottoman empire and supported aggressive policies with their neighbors.

When they make their country destitute, they will try and run to Athens and watch Turkish jets flying over the Aegean.

Disgraceful.

Cyprus already has a big problem with illegal migrants and crossing and over the green line. Cyprus dont need more of that shit.

:roll:


Nothing to worry Maximus. Not even 1 in a million Turks would ever choose Greece or accept to live among Greeks in the RoC. Let them all flood Germany, the UK, and Netherlands who cares?
User avatar
Pyrpolizer
Leading Contributor
Leading Contributor
 
Posts: 10684
Joined: Wed Mar 29, 2006 11:33 pm

PreviousNext

Return to General Chat

Who is online

Users browsing this forum: No registered users and 1 guest