Economy keeps crashing in the hands of "strong man" Erdogan, who has fired every Head of Turkish Central Bank who tried to stop him fulfill his own Turkish Dream of hyperinflation in which business is no longer possible as the cost of imports and commodities rises daily. Erdogan's genius policy in a world where growth and investment is stalling is to keep slashing interest rates in the hope of stimulating investment in Turkey's economy... oh and getting his loyal supporters to hand out dollar bills in loyal neighbourhoods so that the people can burn them in front of TV cameras.
This country of 85 million has no economic policy at all anymore. It is a total basket case and failed state in the making. Get out!
---------------------------------------------------------------------------------------------------------------------------------------------------------------------- You maniacs! You blew it up! Ah, damn you! God damn you all to hell! --- Taylor
Erdoğan spent all of Turkey's foreign reserves propping up the Lira in December, that the country's net foreign assets are now -6.5bn usd. At this stage Erdoğan is just providing liquidity to close these mammoth shorts on the Lira. Next year, when USA and EU raise interest rates, we will see the next stage of this fiasco as the Lira begins its decline to 100:1 usd
You should be talking about the 32 trillion dollars debt the US is in and how they printed over 7 trillion dollars since the start of the pandemic. These people living in some sort of fairytale when their currency doesn’t even have any real value 🤣
thereisnoescape22
⋅
@FXTOP7, your comparison turkey to the worlds most powerful country. you must be delusional. US can be rise interest rates and saving their economy. What can turkey do? They are trying to follow chinese economy model, but they are doing wrong. Chinese can export their goods bec asian market was free for their favor.(US cant reach this markets bec of distance) Turkey cant export technology or vehicles they dont have any market.(maybe just maybe they can export textiles to europe which they are doing already) People get hit hard because of erdogans policies believe it or not.
donald_dblrumphf
⋅
@thereisnoescape22, you're not doing technical analysis you're doing political drivel
FXTOP7
⋅
@thereisnoescape22 we will be fine as always trust me we are not Greeks or other poor countries in the European who depend on Italy Germany and Italy. I don’t became British for leaving EU at all it’s a real burden bailing out these poor countries like Greece and others who don’t bring anything to the table and depend on other members.
thereisnoescape22
⋅
@FXTOP7, Why should i trust you? dont you read what i just said? you cant export anything bec you dont have any market. no country support turkey bec erdogan destroyed years of relationship with those. You dont like greece but their situation much better than turkey deal with it. atleast european countries supports each other. who support turkey?(no one) right now erdogan is playing biggest gamble of his life and he dont care 85million turks.
donald_dblrumphf
⋅
@thereisnoescape22, you are here to do politics your post now confirms it
thereisnoescape22
⋅
@donald_dblrumphf, so? i sold at 18 and gain almost %150 gains on this market. what drives this country is narrative not technical
donald_dblrumphf
⋅
@thereisnoescape22, you can think that all you want but fundamentals are a joke