TR Economy & Updates

[Abdelaziz]

Thoughts?

https://twitter.com/i/web/status/1451192914365673485

https://twitter.com/i/web/status/1451185759478693896

What does that mean

 

[Lool]

When your currency falling, you do not produce high tech stuff in every field of economy same is true for defense industry!!

*cough* South Korea
*cough* Japan
*cough* India

 

[Lool]

I could not understand the relationship between these countries and currency devaluation. I ‘ll most appreciate if you could explain this…

Those 3 countries have a way too poor of a currency against a dollar and yet they produce high tech products
The lira with the current pricing of 9.50 to a dollar is still 2 to 3 times stronger than such currencies
You see in Economy the trick isnt in currency devaluation. The main point is to have a stable infrastructure which allow engineers, scientists, researchers etc to actually be able to work! Things like cost of living, food, education, equipment investment like heavy machinery etc needs to be present. It doesnt matter whether the lira is high or low; rather it depends on whether Turkey can afford to give these things to their citizens domestically to ensure that they are able to work regardless of the currency fluctuations

A chronic problem in Turkey is that it is a country that is heavily dependent on imports! And not in a good way either! The turks are mainly dependent on imports for basic things like food which is horrible! Fixing it will normally take years. However, Erdo wanna solve it in a year (which isnt a good thing IMO since it is way too risky)

I still remember the TCMB statements last month when he said that during and after the pandemic, the price of services hasnt fluctuated greatly but what has been greatly affected was food prices

Turkey regardless of lira prices, has a robust defense industry with qualified engineers that can domesticate such weaponry given time, and environment as the necessary infrastructure has been provded domestically for over 10 to 15 years

Countries like Japan and Korea for example forcefully altered their daily diet to accomodate the fluctuations in the yen and won. I know some japs in medical universities whose daily intake of food are from domestic fisheries most of the time and imported stuff like chicken etc are only eaten in occassions

 

[Lool]

That means the President has no idea what he is doing. He is fighting the windmills to avoid the growth crisis in emerginging markets by interest rate cuts.

What Iam truly wondering about is whether Erdo will actually succeed in forcing the supply chains to use domestic products in such a small time frame

 

[Nilgiri]

What Iam truly wondering about is whether Erdo will actually succeed in forcing the supply chains to use domestic products in such a small time frame

Needs proven elasticity (which needs assured investment over period of time over diverse range of activities)

Turkey economy is not very elastic and robust for this kind of impulse strategy. It literally didnt hit the track circuit regularly enough to get its cardiovascular up to scratch....it has hardening clogged (inelastic) arteries somewhat one can say...

Simply take the blood pressure history (current account ratios, its all there).

You take this kind of guy with hard arteries and ask him to run a marathon suddenly....you think he gonna do good or he gonna huff and puff and catch a fever on top of fever he already has? (fevers and inflation, i made the connection earlier already).

Members here have to fundamentally realise flipping a tap open on your sink for assured water (you take for granted without thinking much) is just final step in a large number of steps.

Dont believe me? Just look up history, how did people fetch and deliver water to their homes....what is the infrastructure developed now to replace all that, to have extra time to do other things (i.e productivity dividends, the root of ALL economic development).

If you visualise everything from A (reservoir of water) to B to C to D to E to finally Z (you turning the tap on in home).....you will surely realise simply tinkering with Z (putting a new tap in) most likely will not solve discoloured water arising in the middle steps somewhere (from not investing in the storage and piping in enough amount regularly).

Fixing this is a long process this decade...and needs people (in power) with new ideas/approaches and willing to listen to the best experts and apply that stuff.

 

[Blank1]

WTF, IS this true ?

https://twitter.com/i/web/status/1451215222535069696

 

[Elaser]

WTF, IS this true ? & Why ?

https://twitter.com/i/web/status/1451215222535069696

THey want to influence 2023 election...

 

[Lool]

Needs proven elasticity (which needs assured investment over period of time over diverse range of activities)

Turkey economy is not very elastic and robust for this kind of impulse strategy. It literally didnt hit the track circuit regularly enough to get its cardiovascular up to scratch....it has hardening clogged (inelastic) arteries somewhat one can say...

Simply take the blood pressure history (current account ratios, its all there).

You take this kind of guy with hard arteries and ask him to run a marathon suddenly....you think he gonna do good or he gonna huff and puff and catch a fever on top of fever he already has? (fevers and inflation, i made the connection earlier already).

Members here have to fundamentally realise flipping a tap open on your sink for assured water (you take for granted without thinking much) is just final step in a large number of steps.

Dont believe me? Just look up history, how did people fetch and deliver water to their homes....what is the infrastructure developed now to replace all that, to have extra time to do other things (i.e productivity dividends, the root of ALL economic development).

If you visualise everything from A (reservoir of water) to B to C to D to E to finally Z (you turning the tap on in home).....you will surely realise simply tinkering with Z (putting a new tap in) most likely will not solve discoloured water arising in the middle steps somewhere (from not investing in the storage and piping in enough amount regularly).

Fixing this is a long process this decade...and needs people (in power) with new ideas/approaches and willing to listen to the best experts and apply that stuff.

Agreed such stuff normally takes 4 to 5 years and is implemented in phases
Iam all in for Erdo's plan tbh. It should have been done long ago; but my only problem with Erdo's plan is that it is too hasty to force the ppl to adapt to a new lifestyle or management or trade process in a year when it normally takes around 4 years.

 

[Lool]

WTF, IS this true ?

https://twitter.com/i/web/status/1451215222535069696

Yes it is true
Apparently, when Nepal complains to the FATF about Turkey; shit gets implemented quickly in less than 2 years
But when USA supports YPG (a group designated as terrorists by the EU and USA) publicly from the 1970s, it doesnt justify being in the red list if not even the grey list; and this is when TURKEY has been complaining for decades. It is too much of a joke tbh
A rotten move by backstage actors under the guise of MIGHTY NEPAL. A political move to pressure Turkey economically and politically and to prevent foreign investments which is the only graceful thing about low liras
Lets see how Erdo responds
I dont see how one can do anything about it but lets see how it goes

 

[Nilgiri]

Agreed such stuff normally takes 4 to 5 years and is implemented in phases
My only problem with Erdo's plan is that it is too hasty to force the ppl to adapt to a new lifestyle or management or trade process in a year

Its a press all the shiny red buttons and see what happens approach to me.

You need people that know what each button does and tell you the order to press things in....a country needs a full reliable core of technocrats and institutions its politicians listen to very well and control their impulses and plan strategy on.

That is not happening for last decade in Turkey much at all it seems....given Turkey has really inherited something really good to take forward.

I am speaking in relative terms all the time (what a country got at beginning of some decade....how has it taken that forward by end of decade).

Trust me we have our own version of Erdogan in India but he is just cpl terms in....and India has a certain counter-bulk of its own that limits the "press all the red buttons" kind of thing (even when election approaches and desperation kicks in).

 

[Lool]

Does any member in this forum have the latest data on the Foreign Direct Investments in Turkey
I cant seem to find it on google
Latest data is on Feb

 

[Kaptaan]

Yes it is true
Apparently, when Nepal complains to the FATF about Turkey; shit gets implemented quickly in less than 2 years
But when USA supports YPG (a group designated as terrorists by the EU and USA) publicly from the 1970s, it doesnt justify being in the red list if not even the grey list; and this is when TURKEY has been complaining for decades. It is too much of a joke tbh
A rotten move by backstage actors under the guise of MIGHTY NEPAL. A political move to pressure Turkey economically and politically.
Lets see how Erdo responds that is if he does respond ofcourse
I dont see how one can do anything about it but lets see how it goes

Well said.

 

[Kaptaan]

FATF like many international bodies are just places where geo-political games are played out. Despite US support for YPG has there ever been any sanction or even talk of sanction against USA?

 

[HTurk]

WTF, IS this true ?

https://twitter.com/i/web/status/1451215222535069696

This is not surprising at all. In fact, they already knew that Ankara was going to be re-categorized. However, I do believe that Turkey won't be influenced by this as much as other countries would be simply because the Turkish economy is an extension of the European market in reality.

BTW, Turkey was on the grey list between 2011 and 2014. They usually make some adjustments and go on with business as usual.

 

[Nilgiri]

Does any member in this forum have the latest data on the Foreign Direct Investments in Turkey
I cant seem to find it on google
Latest data is on Feb

Turkey Foreign Direct Investment

Foreign Direct Investment in Turkey increased by 217 USD Million in February of 2024. This page provides - Turkey Foreign Direct Investment - actual values, historical data, forecast, chart, statistics, economic calendar and news.

tradingeconomics.com

 

[what]

its going to be two long and difficult years until the next election.

 

[Fighter_35]

Those 3 countries have a way too poor of a currency against a dollar and yet they produce high tech products
The lira with the current pricing of 9.50 to a dollar is still 2 to 3 times stronger than such currencies
You see in Economy the trick isnt in currency devaluation. The main point is to have a stable infrastructure which allow engineers, scientists, researchers etc to actually be able to work! Things like cost of living, food, education, equipment investment like heavy machinery etc needs to be present. It doesnt matter whether the lira is high or low; rather it depends on whether Turkey can afford to give these things to their citizens domestically to ensure that they are able to work regardless of the currency fluctuations

A chronic problem in Turkey is that it is a country that is heavily dependent on imports! And not in a good way either! The turks are mainly dependent on imports for basic things like food which is horrible! Fixing it will normally take years. However, Erdo wanna solve it in a year (which isnt a good thing IMO since it is way too risky)

I still remember the TCMB statements last month when he said that during and after the pandemic, the price of services hasnt fluctuated greatly but what has been greatly affected was food prices

Turkey regardless of lira prices, has a robust defense industry with qualified engineers that can domesticate such weaponry given time, and environment as the necessary infrastructure has been provded domestically for over 10 to 15 years

Countries like Japan and Korea for example forcefully altered their daily diet to accomodate the fluctuations in the yen and won. I know some japs in medical universities whose daily intake of food are from domestic fisheries most of the time and imported stuff like chicken etc are only eaten in occassions

How are their currency acting in the last 10-20 years?? I mean how much did they lose value in dolar ratio compared to tl ?? We used to have a ratio 1,5-1,8 till 2011. In the last ten years we lost 600 percent in terms of tl value!! How much they lost in percent?? 5? 10? 20 percent??

We are dealing with these people !! They even do not know basic things!!

 

[Fighter_35]

Those 3 countries have a way too poor of a currency against a dollar and yet they produce high tech products
The lira with the current pricing of 9.50 to a dollar is still 2 to 3 times stronger than such currencies
You see in Economy the trick isnt in currency devaluation. The main point is to have a stable infrastructure which allow engineers, scientists, researchers etc to actually be able to work! Things like cost of living, food, education, equipment investment like heavy machinery etc needs to be present. It doesnt matter whether the lira is high or low; rather it depends on whether Turkey can afford to give these things to their citizens domestically to ensure that they are able to work regardless of the currency fluctuations

A chronic problem in Turkey is that it is a country that is heavily dependent on imports! And not in a good way either! The turks are mainly dependent on imports for basic things like food which is horrible! Fixing it will normally take years. However, Erdo wanna solve it in a year (which isnt a good thing IMO since it is way too risky)

I still remember the TCMB statements last month when he said that during and after the pandemic, the price of services hasnt fluctuated greatly but what has been greatly affected was food prices

Turkey regardless of lira prices, has a robust defense industry with qualified engineers that can domesticate such weaponry given time, and environment as the necessary infrastructure has been provded domestically for over 10 to 15 years

Countries like Japan and Korea for example forcefully altered their daily diet to accomodate the fluctuations in the yen and won. I know some japs in medical universities whose daily intake of food are from domestic fisheries most of the time and imported stuff like chicken etc are only eaten in occassions

You compare 3 advanced countries in terms of Technology and economy to Turkey!! Are you even aware of this???
Check their currency changes in the last 20 years!!
You write many things but with out a value .

Long story short, you talked much but talked with out a value and logic

 

[Fighter_35]

Also could you write their minimum wages in terms of us dollars and change of their minimum wage over the years and add that list to percentage of people in that countries working with minimum wage!!

 

[Fighter_35]

Even china with 1.6 billion population has more than our minimum wage in terms of usd!! They have expanded 2,5-3 times in terms of GDP in the last 10 years. What Turkey did?? It decreased it's gdp from 900-950 billion usd to 720-730 billion usd!!
You even don't know this right!! But you can compare Turkey with 3 of the G7 countries!!