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Turkey is bankrupt

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Re: Turkey is bankrupt

Postby Maximus » Mon Aug 10, 2020 8:05 pm

Kikapu wrote:
Maximus wrote:Trump will win Kiks,

He is far, far more credible than the Biden led democrats. :lol:

That is another topic altogether, Max. :roll:


Other side of the same coin.

One side says, he is a racist criminal;

The other side says, he is a fascist criminal.

Its either going to come up heads or tails on the toss.

The facist criminals will lose. :lol:
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Re: Turkey is bankrupt

Postby Kikapu » Mon Aug 10, 2020 8:21 pm

Maximus wrote:
Kikapu wrote:
Maximus wrote:Trump will win Kiks,

He is far, far more credible than the Biden led democrats. :lol:

That is another topic altogether, Max. :roll:


Other side of the same coin.

One side says, he is a racist criminal;

The other side says, he is a fascist criminal.

Its either going to come up heads or tails on the toss.

The facist criminals will lose. :lol:


Well, you know Max, that dictators always win elections as long as democracy is suppressed and people willingly allow it to happen. Trump would love to join the dictatorial club of Putin, Erdogan, Jong-il, Jinping and a few more if the Americans allow it. Fortunately, most Americans will not allow it. :wink:
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Re: Turkey is bankrupt

Postby Maximus » Mon Aug 10, 2020 9:23 pm

Trump is nowhere near them levels,

come on now, lets get serious.

Anyway, this thread is about something else.
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Re: Turkey is bankrupt

Postby Londonrake » Mon Aug 10, 2020 9:56 pm

Maximus wrote:Trump is nowhere near them levels,

come on now, lets get serious.

Anyway, this thread is about something else.


Yeah! I got an earache for talking about Trump. :lol:
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Re: Turkey is bankrupt

Postby Maximus » Mon Aug 10, 2020 10:41 pm

News just in,

Endorgan rules out a bailout from the IMF because it would come at high political costs for him and his regime. tantamount to political suicide (he thinks).

However, Ali Babacan thinks that an IMF bailout wont be sufficient to meet Turkey's needs. Even if Endorgan was to request it, because it is also necessary to arrange currency swap deals with other central banks.

Babacan also raised the important point that Turkey's increasingly bellicose foreign policy makes these arrangements far more difficult.

On the one hand, Turkey is problematic and creates tensions then on the other, Turkey expects to have lifelines extended as if nothing is happening.

A Dr Jekyll and Mr Hyde type personality comes to mind! :lol:


https://www.arabnews.com/node/1716706/business-economy
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Re: Turkey is bankrupt

Postby Maximus » Mon Aug 17, 2020 9:21 pm

Endorgan called for an economic summit today as the Lira hit a new all time low again. The agenda was; What to do about it, we are neck deep in the shit.

His communications (propaganda) director said that colonial barons are attacking Turkeys economy with currency games.

As the economy declines, Turks have been buying up gold to hedge themselves against a depreciating Lira and rising inflation. Gold jewelry is flying off the shelves in the cities grand bazaars. Some Turks are even thinking of selling their houses to buy more. They say it is the best insurance they have right now.

Banks are going to start introducing fees to withdraw in foreign currency. This might be one step towards more stringent capital controls. If it gets to this stage, there might be a run on the banks and that is when the alarm bells will truly start ringing and the panic could create a balance of payments problem too. The vulnerable banks, which are the 3 major ones might even close their doors as a run on them could accelerate their collapse.

Bloomberg says that Turkey is becoming increasingly isolated among the emerging market economies. The country is now being separated as an asset class with the other emerging market economies. Basically, it is not even considered as an emerging market anymore.

Endemic corruption, economic mismanagement and excessive military adventurism has taken its toll. But Endorgan has somewhat successfully kept the population distracted by creating new crisis in the Mediterranean sea.
Last edited by Maximus on Mon Aug 17, 2020 9:48 pm, edited 4 times in total.
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Re: Turkey is bankrupt

Postby Londonrake » Mon Aug 17, 2020 9:35 pm

In my lifetime I've quite a few times seen dictators/dictatorships react to the inevitable eventual domestic problems by whipping up a "Johnny foreigner" distraction, cashing in on nationalism. It's a last resort and, sadly, rarely fails.

My parents and their generation had terrible experiences because of them. Never trust a dictator.
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Re: Turkey is bankrupt

Postby Maximus » Mon Aug 17, 2020 9:45 pm

Sadly, some people inside and outside Turkey believe the crap that comes out of his mouth.

The man is as credible as a soiled diaper.
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Re: Turkey is bankrupt

Postby Kikapu » Mon Aug 17, 2020 10:42 pm

Maximus wrote:Sadly, some people inside and outside Turkey believe the crap that comes out of his mouth.

The man is as credible as a soiled diaper.


Much like Trump really, no? :wink:
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Re: Turkey is bankrupt

Postby Maximus » Mon Aug 17, 2020 11:03 pm

Kikapu wrote:
Maximus wrote:Sadly, some people inside and outside Turkey believe the crap that comes out of his mouth.

The man is as credible as a soiled diaper.


Much like Trump really, no? :wink:


I think erdo is much more delusional and most of trumps supporters are actually sane.
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