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Turkey is bankrupt

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Re: Turkey is bankrupt

Postby Maximus » Fri Jun 17, 2022 5:03 pm

A survey was filled out online by 2,045 people aged over 18 from different socio-economic groups and cities in Turkey on December 1-15, 2021

To the question of "Can you meet your basic needs", 64 percent of the respondents said, "No" while 36 percent answered in the affirmative.

Its probably higher now and it will continue to get worse for the foreseeable future.

Like elsewhere.
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Re: Turkey is bankrupt

Postby Maximus » Fri Jun 17, 2022 5:28 pm

A total of 2,054 companies shut their doors in the Dourkiye last month, marking a 259.7 percent increase compared to May of last year, the report found.

While a total of 7,597 firms shut down between January-May of this year.

https://ahvalnews.com/turkish-companies ... may-report
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Re: Turkey is bankrupt

Postby Maximus » Fri Jun 17, 2022 8:09 pm

The AKP are considering introducing a new, higher minimum wage again.

Because the number of business's declaring bankruptcy isn't enough. They want to force more companies to close under the weight of rising costs or make employees redundant.

Erdog, the master of disaster strikes again.

He must know every business's profit margin, like our resident vremenon bordo.

https://ahvalnews.com/turkey-minimum-wa ... -bloomberg
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Re: Turkey is bankrupt

Postby Get Real! » Sun Jun 19, 2022 3:13 am

This video is a gift to Maximus and Lordo to enjoy...

https://t.me/azmilitary11/6983?embed=1&mode=tme
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Re: Turkey is bankrupt

Postby Maximus » Sun Jun 19, 2022 9:43 am

Get Real! wrote:This video is a gift to Maximus and Lordo to enjoy...

https://t.me/azmilitary11/6983?embed=1&mode=tme


Its more for the Turks to Enjoy,

Erdogan needs major distractions from the economy and the deteriorating human rights record in the country.

The basis of their arguments are so ludicrous it shows how easily the electorate are to manipulate.

For instance, the illegitimate EEZ deal with libya and their so called eez that wraps around Cyprus is unbelievable to any right thinking person.

But the average Turk buys it hook line and sinker and comes online arguing what he has just been told by TRT world and shows his brains. Very much like our resident bordo does.

its all Turkish posturing and whinging but the joke is on the Turkish electorate.

As if a "blue homeland" is gong to solve their problems.

The problem is Turkey is bankrupt and erdog wants to stay in power.

The last thing Turkey needs is to start a war with Greece (an EU member state)
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Re: Turkey is bankrupt

Postby repulsewarrior » Thu Aug 04, 2022 6:21 pm

...just an update.

https://www.aljazeera.com/economy/2022/ ... nt-in-july

...although, i believe, the rate officially is stated at about 60%.
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Re: Turkey is bankrupt

Postby erolz66 » Sat Aug 06, 2022 8:07 am

Maximus wrote:
erolz66 wrote:I aim to sell at the peak of the market, because this cheap money low inflation charade the worlds central banks have been playing since 2008 is not sustainable. It only last on wishful thinking. The piper always has to be paid in the end and the piper is inflation. I am looking to sell property I have had and held in the UK for 30 years in the expectation that within 3-5 years I will be able to buy it back for less than I sold it for. I would not buy stocks right now, not even solid yield bearing stocks. They are over priced by the trillion of new cheap easy money the world has been running on for the last 13 years. Even a base rate of 2% would lead to a serve property crash in the UK and even worse in NZ where house prices are so massively over inflated. But I recon base rate will be nearer 6% than 2%. The reckoning is coming imo and so yeah ironically enough I am hedging against inflation primarily by liquidating assets for cash.

My money is most firmly where my mouth is.


Inflation means that prices go up.

For example, the cost of materials to build a house or for a company to make a product will get more expensive.

You seem to have an inverse view of what will happen if you are banking on prices coming down to buy things cheaper.

if things are massively over inflated, and we have inflation as well, then things will get more expensive. Not cheaper.


Has the price of stocks gone down or up since I said (clue Lon:RR £135 per share nov 2021, 83 right now)

just about everything is overpriced right now, stocks, crypto, property - everything.


crypto ? up or down between Nov 2021 and now ? (clue btc 58,000 usd in nov 2021, 23,200 right now)

property will be the next

https://www.bloomberg.com/news/articles ... lifax-says
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Re: Turkey is bankrupt

Postby Kikapu » Sat Aug 06, 2022 9:08 am

erolz66 wrote:
property will be the next

https://www.bloomberg.com/news/articles ... lifax-says


Hasn’t this always been the case though, that when inflation rises, so does the interest rates (except in Erdogan’s Turkey :wink:), which then the price of houses goes down in proportion to rise in inflation and Interest rates. However, when the currency also weakens and inflation is high, that can help keep the house prices maintain their value despite the higher interest rates as there will be more houses kept off the market to be sold by reducing the supply. Trying to navigate through this kind of unknown financial territory over a 3-5 year period to sell now and buy later would be like walking through a financial mine field with a lot of risks and headaches, regardless even if your projections prove to be the right call in the end. Who needs it? :wink:
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Re: Turkey is bankrupt

Postby Maximus » Sat Aug 06, 2022 12:48 pm

erolz66 wrote:
Maximus wrote:
erolz66 wrote:I aim to sell at the peak of the market, because this cheap money low inflation charade the worlds central banks have been playing since 2008 is not sustainable. It only last on wishful thinking. The piper always has to be paid in the end and the piper is inflation. I am looking to sell property I have had and held in the UK for 30 years in the expectation that within 3-5 years I will be able to buy it back for less than I sold it for. I would not buy stocks right now, not even solid yield bearing stocks. They are over priced by the trillion of new cheap easy money the world has been running on for the last 13 years. Even a base rate of 2% would lead to a serve property crash in the UK and even worse in NZ where house prices are so massively over inflated. But I recon base rate will be nearer 6% than 2%. The reckoning is coming imo and so yeah ironically enough I am hedging against inflation primarily by liquidating assets for cash.

My money is most firmly where my mouth is.


Inflation means that prices go up.

For example, the cost of materials to build a house or for a company to make a product will get more expensive.

You seem to have an inverse view of what will happen if you are banking on prices coming down to buy things cheaper.

if things are massively over inflated, and we have inflation as well, then things will get more expensive. Not cheaper.


Has the price of stocks gone down or up since I said (clue Lon:RR £135 per share nov 2021, 83 right now)

just about everything is overpriced right now, stocks, crypto, property - everything.


crypto ? up or down between Nov 2021 and now ? (clue btc 58,000 usd in nov 2021, 23,200 right now)

property will be the next

https://www.bloomberg.com/news/articles ... lifax-says


Hello Erolz,

Long time, are you alright?

You talking about rolls royce! Cars are probably the first thing to get hit during inflationary periods because people are less likely to spend on non essential stuff. I would expect the stock price of car makers to take a slump.

UK house prices are way too expensive but if you are planning to sell now and buy back cheaper, proceed with caution. Read what Kiks said, a lot of headache is involved and with rising interest rate, it can gobble up anything you think you might gain. I dont know your financial situation so do whatever you think is best for you.

As far as cypto is concerned, I dont see it as a real asset. The costs to maintain the network will keep rising over time and become less and less feasible for miners as time goes on. Its a bad business model at this stage in the game, with diminishing return for the miners in the future. Without them, crypto doesnt work.
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Re: Turkey is bankrupt

Postby erolz66 » Mon Aug 08, 2022 6:39 pm

Maximus wrote:Hello Erolz,

Long time, are you alright?


Yeah still above ground.

Maximus wrote:You talking about rolls royce! Cars are...


rr.JPG


Are a possible steal right now but I don't do shares. Ill stick with what I know.
You do not have the required permissions to view the files attached to this post.
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