Cyprus-Forum.com

[Maximus]

The country is currently doing really well Bordo, with nearly a third of the population at risk of poverty.

And this is what the AKP report, others suggest it is even higher.

But dont worry, its just something you don't really care about since Turkiye become an AKP nationalist socialist state.

Have you ever thought about moving there? Its right up your alley.

[Maximus]

One of the reasons why so many turks are bordeline living in poverty is because of a 50% increase in the minimum wage.

Socialist nationalist dogoogan decided to raid the coffers of private enterprise, instead of raising interest rates. Which just forced businesses to raise their prices to cover these extra costs, which in turn caused more inflation.

So instead of fixing the problem, socialist nationalist dongoogorgan just made it a whole lot worse.

We have a couple of einsteins among us who can make such things work though.

as it turns out, a 1400 year old book about god is not the best place to get your economic advice.

[cyprusgrump]

One of the reasons why so many turks are bordeline living in poverty is because of a 50% increase in the minimum wage.

Socialist nationalist dogoogan decided to raid the coffers of private enterprise, instead of raising interest rates. Which just forced businesses to raise their prices to cover these extra costs, which in turn caused more inflation.

So instead of fixing the problem, socialist nationalist dongoogorgan just made it a whole lot worse.

We have a couple of einsteins among us who can make such things work though.

as it turns out, a 1400 year old book about god is not the best place to get your economic advice.

[Lordo]

Is Terggggy bankrupt yet? Either she is or she is not. It is this shilly-shallying I cannot stand.

[Londonrake]

Is Terggggy bankrupt yet? Either she is or she is not. It is this shilly-shallying I cannot stand.

You have absolutely no idea what Turkey's economic state is.

Dross.

[Maximus]

In a surprising move on Thursday, Turkey's central bank has raised interest rates by a whopping 500 basis points to 50%. This unexpected decision, now makes Turkey's interest rate the 4th highest interest rate in the world.

Made ahead of nationwide local elections, it has sent shock waves through the markets, leaving analysts and internet pundits (like me) speculating about the implications.

The central bank justified its decision by citing the deteriorating 70% inflation rate and the worsening outlook in the country. The significant devaluation of the Turkish Lira, coupled with dwindling foreign reserves, increased the pressure on the central bank to take measures to try stabilize the economy.

Analysts warn that the massive rate hike may have other dire consequences as it will compound the economic pain for Turkish citizens and businesses who have already been enduring a prolonged cost-of-living crisis and are over-leveraged to the hilt with loans.

Should inflation continue to rise or remain stubbornly high, further rate hikes might be necessary. But many analysts think the Turkish economy is beyond repair at this stage. It is sliding to oblivion with a looming recession on the horizon.

Fitch predicts Turkey will go in to a recession in the Q2 of this year, that is, within the next 3 months.

[Lordo]

Is Tergggggy bankrupt yet. How many time is Terggy going to go bankrupt ffs. Either you bankrupt and shut shop or you bankrupt forever. Which will it be?
Are they going to hold a all must be sold sale soon?

[Lordo]

People are aware who is suffering and who is making a killing. May all SineCunts here and everywhere rot in hell.

https://www.facebook.com/reel/203808638990731

I could have sworn some idiot here kept saying in order to curb inflation Erdogan must increase interest rates, Just like in the UK it made no blind fuckin bit of difference. Inflation is not affected by inatersts rates as the cause of inflation is not over heating economy. People do not have enough money to buy food ffs.

[Maximus]

what are you talking about?

The rate of inflation in the UK has come down from 11.1% in November 2022 to 3.4% in February 2024.

Yes, the Turkish central bank should have been hiking rates from the time Erdogoons son-in-law was governor, instead of decreasing them for the sake of Islam while inflation was running out of control.

Now it is too much, too late, the central bank has to hike them like there is no tomorrow to make up for lost time and because of this, they will push people and business over-leveraged with loans over the edge and risk sending the economy in to a recession. The central bank have has little to no choice.

If inflation is not affected by interest rates, why is the Turkish central bank hiking them so much now?

[repulsewarrior]

...in any case, the great experiment is over, the Turkish people did not as was expected improve their productivity to such a degree that they would overcome the "forces" against them. (In affect "Turkishness" is not superior to the "Others".)

...and as a result, 'we' may see Erdogan as a different person, with his changing intentions; not so much for "Turkishness" but for Turkey.

Indeed, in this part of the world one may ask how low can it go. On the other hand it is in moments like these where Ignorance is overcome, that change is imminent and less likely to be resisted. Thus i am hopeful. We are by nature loving creatures, despite evil intent such intentions change, even those who plunder murderously shameless of the mayhem it leaves behind have compassion for their child or their mom. What more is there to gain from thoughtlessness, that is the question, it is a matter of (political) economics, and it has become an existential question too.

Yet, the new thinking that has evolved from the Modern Age remains ignored, and the threats now are far greater than Nations and their wars; "It" may stop very soon to hold the agenda, 'we' may live in Peace as cooperators instead: this would be progress (even/still under "Such" control).

Unlike Putin, Erdogan is not trying to bring back a past glory; he wants to become bigger than it, giving him as an autocratic leader intellectually speaking a whole lot more leeway to be the top "It" if he were to bring "Them" together in accord.

...indeed, it is the Problem in all this, what divides us and how. That first as Citizens of the World we may demonstrate, as Individuals, (having the same needs) our trust and respect toward each other. And as equals thusly recognising that as Persons and as majorities the same Goodwill and trust is demonstrated toward minorities that live among such constituencies.

(but i am way off topic, or not.)