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Turkey is bankrupt

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Re: Turkey is bankrupt

Postby Maximus » Fri Sep 23, 2022 11:54 am

Analyst estimates range for the TL to end the year between 24 to 30 to the dollar. Shaving off anywhere up to another 30% of its value.

Real interest rates are well in to negative territory and the top brass, i mean cobble heads, are irrationally cutting interest rates when they should be hiking. The cobble heads are gambling with poverty for the citizenry for economic growth.

The hair brained ideas so far from the top cobble head is to steal money from businesses, mandate higher wages and link TL deposits to some half baked compensation scheme against any lira devaluation. Draining the treasuries coffers and fx reserves even further after blowing it in the market by trying to support it.

Basically the top cobble heads have been doing what our chief fart head has been arguing for in his la la land as to not raise interest rates. The difference is, one is an islamo facist and the other a socialist. Two smelly rags cut from the same cloth with different labels that achive the same result. Misery for the people under the guise of doing it for the greater good.

There are only a few ways out of this, which includes, but not limited to massively hiking interest rates and implementing the mother of all austerity programs. Either way pain and poverty are on the menu for a while.
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Re: Turkey is bankrupt

Postby Lordo » Fri Sep 23, 2022 2:32 pm

If the inflation is being caused by hike in the energy prices, how the fuck is increasing interest rates bring it down you stupid toilet cleaning shitface.

Get hold of your fuckin brush and start fuckin cleaning, toilet number 3 needs your presence,.

Italians have seen the light. They new government coming in will tell the yanks to bugger off with their sanctions,
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Re: Turkey is bankrupt

Postby Maximus » Fri Sep 23, 2022 3:00 pm

But erdogan has been doing all the things that you want the swine to do in la la land and the problem is only getting worse in Turkey.

He has stolen money from the corporations.
He has conceived some hair brained scheme to compensate TL depositors based on the currencies devaluation.
He has raised the minimum wage, squeezing business even more and forcing thousands to close.
He has implemented caps on prices, forcing even more to file for bankruptcy.
and he has kept lowering interest rates to make the cost of borrowing even cheaper.

All these are similar talking points that you have fart head,

These are your ideas in action and what is the result? rampant inflation of 80+% inflation in Turkey.

Is this because oil is at $83 per barrel and because Europe has put sanction on Russia? :roll:
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Re: Turkey is bankrupt

Postby Lordo » Fri Sep 23, 2022 5:05 pm

Interesting that there are assholes here who think it is ok to pay workers less than 4253 TL a month which was increased by 50% which is about about 213 pounds a month. You think you can live on that?

What a fuckin cunt you are.

As to Erdogan forcing companies to pay, my mind goes back to a haircut, but can't quite remember which country the barber was at. Mind you I was talking to a guy from Turkey the other day and he was telling me how bad things are in Turkiye for his company but he was explaining how high it is to rent a house in Mayfair and eat in the local restaurants. Shit man I really felt sorry for him, you know what I mean?

The idea is not not just to cap prices companies charge but to cap the market who is colluding with suppliers and keeping prices high. That;s why Nationalisation works, because companies are not competing for resources, there is one buyer and it has clout to dictate. FFS if France and can do it anyone can.

For instance, UK can nationalise oil companies operation in UK at the drop of a hat. Just like Germany did. In fact the Germans nationalised the German operation in Germany of a Swedish nationalised company. EDF is the same here, in UK they raised their prices by 400% but in France they raised their prices by 4% because they are fucking nationalised in France.

Fuck my brain has gone. The word nationalisation should bring a word in my mind but it is escaping me at the moment,

it begins with an "S", can you guess what it is. it's coming, I can visualise an "a" in it somewhere or maybe and I seem to remember it ends with a fuckin "m" too.

Fuck what was the fucking word again?

Somebody help?

Ironically of course before Yeltsin came to power and sold all the energy companies to the oligarchy the swine's were nationalised and served the people in the Soviet Union. Who came up with this fuckin privatisation thingi then?

I know it is the fuckin IMF who is forcing all poor countries to sell all their nationalised industries to western corporations on the cheap. Fuckin cunts.
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Re: Turkey is bankrupt

Postby Maximus » Fri Sep 23, 2022 8:14 pm

You are just talking past me because you have no answers.

Endorgan has put your plan to action in turkey for years now. Meanwhile lowering interest rates and the result is there for you to see.

Its not making things better, but worse, much worse.

Do you know what elvis presley said about doing the same thing over and over again and expecting a different result?

Its madness.
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Re: Turkey is bankrupt

Postby erolz66 » Fri Sep 23, 2022 9:25 pm

Turkey lowers cost of borrowing 100 points. UK raises 50 points and sterling loses value against the TL ! That shows the scale of idiots the UK currently has running things. Markets no more impressed than me it would seem with this radical fiscal shift from an unelected leader.

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Re: Turkey is bankrupt

Postby Maximus » Fri Sep 23, 2022 9:45 pm

Its so the smart money can buy cheaper. These markets are manipulated to some extent. Only an idiot would sell sterling to buy TL.
Last edited by Maximus on Fri Sep 23, 2022 9:46 pm, edited 1 time in total.
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Re: Turkey is bankrupt

Postby Pyrpolizer » Fri Sep 23, 2022 9:46 pm

Maximus wrote:I know some around here label you as a thinker, but is that the last of your best attempts at being an intellectual?


I was the one and I still believe he is. Unfortunately I am not following this topic regularly, so I actually got lost in what you guys are saying... :(
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Re: Turkey is bankrupt

Postby Maximus » Fri Sep 23, 2022 9:52 pm

You havent missed much.

Our chief fart head thinks like erdogan and wants to apply similar economic and fiscal policy in "la la land", hoping for a different result.

Only difference is, he learnt from reading karl marx and endorgan learnt from reading the quran.
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Re: Turkey is bankrupt

Postby Lordo » Fri Sep 23, 2022 10:33 pm

Some pibol are thick as shit.

There are two choices.
1. Borrow the money and cap the energy charges and line the energy companies pockets.
2. Tax oil giants for the excessive profits they have made and use it to cap energy payments.

The word is excessive profits not just profits, due to market conditions. They have not done anything to earn these excessive profits. Which is why it is called windfall profit and the taxation for it is also called windfall tax.

This cunt Truss is simply refusing to tax the energy companies no matter how much profit they make. They are going to make190 billion windfall profits in the next wo years. Of course, it does not help that the cunt used to work for Shell.

This is what BP said about the matter.

https://amp.theguardian.com/business/2022/jul/20/bp-admits-windfall-tax-will-not-affect-its-north-sea-investments-after-all

Where the fuck did you put that toilet brush. Go get it boy and shove it where the sun don't shine.

Not even the energy companies want to kill the goose that laid the golden egg, and they are prepared to help.

So fuck off.
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