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Erdogan vs the world

Rob Ray

Weight is meaningless
According to the FT today Erdogan's rinsed Turkey's foreign currency reserves to try and ease his inflation crisis with the lira. Honestly I don't understand what Erdogan hopes to achieve with his currency battles? Is it ideological, the hubris of a political strongman, or something else?

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ACG article on the current situation in Turkey. It looks like things might kick off.

 
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LoL the whole World was trying to give Erdogan economics lessons on the interest rates and inflation. Now they are doing what Erdogan started doing long time ago.
 
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LoL the whole World was trying to give Erdogan economics lessons on the interest rates and inflation. Now they are doing what Erdogan started doing long time ago. Idiots.

You think Turkey going from 80 to 60 percent inflation is some kind of flex?

lol
 
LuuuL, its funny how all economists universties profs journalists etc was mocking with Erdogan's move to lower interest rates, claiming its against the rules of the economy. Now the same people say raising interest rates will cause complete destruction of the economy in the medium and long term.
 
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LuuuL, its funny how all economists universties profs journalists etc was mocking with Erdogan's move to lower interest rates, claiming its against the rules of the economy. Now the same people say raising interest rates will cause complete destruction of the economy in the medium and long term. IDIOOOOOOTSSS 😆

Have you ever considered that perhaps economics is a bit more complicated than you think, and that raising or lowering interest rates might have different effects during different circumstances?
 
Where’s the “Erdogan’s time is up” thread?


This came after abruptly halting a TV interview for “health reasons”, rumoured to be a heart attack by Twitter shitposters but more reliable sources suggest stomach problems, a euphemism for the shits perhaps. Maybe he browned himself during the TV interview and scuttled away before the interviewer caught a whiff of it. Awkward.
 
Seems strange voting for an authoritarian leader who led the nation to 80% inflation during his watch.

Still, what do I know?

80% inflation is hard to fathom, you would have to spend your money immediately you got it or see it wither immedietaly. I wonder what the rich people are buying, if there are any rich people left?
 
Seems strange voting for an authoritarian leader who led the nation to 80% inflation during his watch.

Still, what do I know?

80% inflation is hard to fathom, you would have to spend your money immediately you got it or see it wither immedietaly. I wonder what the rich people are buying, if there are any rich people left?

I was in Istanbul last month, and I know that isn't a very good sample to judge the rest of the country but it was very easy to see why people would vote for him - there are a lot of new things around, like the metro, the Marmaray, the big airport, various roads, new and refurbished mosques, the aircraft carrier (which showed up for people to walk around whilst I was there) and the drones etc. The shops were full and the food was (compared to here anyway) relatively cheap. The whole place seemed to me somewhere that at least gave the impression of being on the up, much more so than here.

There was a lot of pro-Erdogan content on a lot of those new things as well of course, especially on the videos playing on new part of the metro between the airport and town. Even the little rope that ordered the queue of people visiting the relics of the prophet (at the Topkapi Palace) had a comment on it saying it was the President of the republic that was allowing this.
 
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