TR Economy & Updates

[Anastasius]

Just spend the money you actually have in your bank account, okay? This is why I will never vote for CHP and other Kemalist parties. They act as if the common Turk is incredibly wise and knows how to spend and invest his or her money. This is not the case.

Our people love to show off, to spend their money on foreign goods like Bosch washing machines even though the Turkish equivalent is cheaper and equally good. They still are going to choose the foreign brand for the sake of boasting and making the neighbors jealous.

All of them are in debts, all of them don't care about tomorrow, almost every single one in Turkey outright sees working as something bad or dirty. They don't have no work ethics or moral compass. They wait in line for the next credit, mortgage, installment even though they know precisely that paying back is simply not possible.

Whatever happens to them economically, they deserve worse.

All of them are in debt? Don't care about tomorrow? Don't you think you might be exaggerating a little there, chief?

In my general experience, Turks are pretty good at saving up. Investing in valuables like gold, etc, planning for the future and any bad days (I remember reading that the AKP even told people to start giving up their savings to "fix" the economy). Working is hardly considered bad, if there's one thing that I think both Azerbaijanis and Turks don't appreciate enough, it's the mantra "work smarter, not harder".

Admittedly you might be basing your experience on German Turks whom I...have not heard good things about.

Dunno, you seem overly angry towards your fellow ethnic kin.

 

[Tornadoss]

Because of our affinity for foreign stuffs. We deserve no better. Erdogan must cut exchange rate to 1€ - 20 Lira.

I think people living abroad and not gaining their salary in TL, shouldn't talk about how much it should be.

 

[Tornadoss]

Just spend the money you actually have in your bank account, okay? This is why I will never vote for CHP and other Kemalist parties. They act as if the common Turk is incredibly wise and knows how to spend and invest his or her money. This is not the case.

Our people love to show off, to spend their money on foreign goods like Bosch washing machines even though the Turkish equivalent is cheaper and equally good. They still are going to choose the foreign brand for the sake of boasting and making the neighbors jealous.

All of them are in debts, all of them don't care about tomorrow, almost every single one in Turkey outright sees working as something bad or dirty. They don't have no work ethics or moral compass. They wait in line for the next credit, mortgage, installment even though they know precisely that paying back is simply not possible.

Whatever happens to them economically, they deserve worse.

Turkish people are not wise and don't know how to spend their money, hey let's make their purchasing power lower so they can not spend any money.

Even though bosch is not high end and expensive they are still better than Turkish counterparts. Turkish products are low quality in metratial and broken after using 1 or 2 years, creating problems. My parents opted arcelik for kitchen stuff, and nearly all creating problems. Now, they switch Miele for some of them and very happy with it. Here, in my old company we had a Beko washing machine, it was broken within the first year. My brother bought a Vestel drying machine and had to call service 2nd day. If they were high quality, people would opt them surely. In the past it was different I remember that we had a Arcelik fridge and we used it nearly 20 years.

It's sickening to see that an almaci wishing bad for people living in Turkey.

 

[Saithan]

Turkey to follow China’s economic growth strategy: Erdoğan - Latest News

Turkey can produce goods cheaper and sell those products to other countries and raise revenues in U.S. dollars like China has done, but Turkey has more advantages in terms of luring foreign investments, President Recep Tayyip Erdoğan has said.

www.hurriyetdailynews.com

@Nilgiri as you pointed out RTE thinks he is following in the footsteps of China. This should have been done 30 years ago. Doing now is not going to work, especially not since RTE isn't able to create same trust and reliability of China with regards to FDI and investors.

Turkey should/would have been able to jump into the middle to high tech segment with proper management, but that was not done. So we clear the table and start all over (not really, but the analog should give you an idea of what's being done).

 

[Tornadoss]

Yet again Central bank made an intervention, dollar decreased 13.85 to 13.52 then it jumped back to 13.75 now. If plan is lowering value of TL why is the intervention?

 

[Manomed]

Just spend the money you actually have in your bank account, okay? This is why I will never vote for CHP and other Kemalist parties. They act as if the common Turk is incredibly wise and knows how to spend and invest his or her money. This is not the case.

Our people love to show off, to spend their money on foreign goods like Bosch washing machines even though the Turkish equivalent is cheaper and equally good. They still are going to choose the foreign brand for the sake of boasting and making the neighbors jealous.

All of them are in debts, all of them don't care about tomorrow, almost every single one in Turkey outright sees working as something bad or dirty. They don't have no work ethics or moral compass. They wait in line for the next credit, mortgage, installment even though they know precisely that paying back is simply not possible.

Whatever happens to them economically, they deserve worse.

>lives in germany
You have no right to talk About Turks

 

[Saithan]

Yet again Central bank made an intervention dollar decreased 13.85 to 13.52 then it jumped back to 13.75 now. If plan is lowering value of TL why is the intervention?

View attachment 36643

It's gone. Once the swaps have been used up we'll be at rock bottom. Let's hope it happens very fast within the next 6 months, and when there is nowhere to run early elections.

 

[Rodeo]

Yet again Central bank made an intervention, dollar decreased 13.85 to 13.52 then it jumped back to 13.75 now. If plan is lowering value of TL why is the intervention?

View attachment 36643

I believe that central bank is not making intervention. They announce it to make people sell their dollars so the CB can buy it cheaper. I can't prove this as it's a feeling.
Do we have a data of daily reserves of the CB? That should clear the matter.

 

[Lool]

I believe that central bank is not making intervention. They announce it to make people sell their dollars so the CB can buy it cheaper. I can't prove this as it's a feeling.
Do we have a data of daily reserves of the CB? That should clear the matter.

The foreign reserves did decrease

However, I do feel that there is a bit of manipulation though
Erdo's policy hasnt changed and it is well-known that interests rate will decrease. Honestly, by now all foreign investors have escaped so the massive dramatic decrease in the lira every day is questionnable tbh.

I believe there is manipulation to FORCE Erdo to raise the rates; whether that is of good or bad intentions, idk tbh

Turkey Gross Foreign Exchange Reserves

Foreign Exchange Reserves in Turkey decreased to 93010 USD Million in November 1 from 93510 USD Million in the previous week. This page provides the latest reported value for - Turkey Foreign Exchange Reserves - plus previous releases, historical high and low, short-term forecast and long-term...

tradingeconomics.com

 

[Saithan]

I believe that central bank is not making intervention. They announce it to make people sell their dollars so the CB can buy it cheaper. I can't prove this as it's a feeling.
Do we have a data of daily reserves of the CB? That should clear the matter.

The CB reserves are updated weekly. Keep an eye on the exchange rate. But without any reforms and RTE not relinquising power you can expect this to be worse. Like in the 90's exchange rate reaches new all time high weekly, then every day, the small fall are just to fool people.

 

[Saithan]

CBRT conducts 2nd intervention in FX market over ‘unhealthy’ market prices | Daily Sabah

Turkey's central bank on Friday said it was intervening in the foreign exchange market for the second time this week due to “unhealthy” market...

www.dailysabah.com

"Unhealthy" we're going through an emotional upheavel.

 

[Manomed]

CBRT conducts 2nd intervention in FX market over ‘unhealthy’ market prices | Daily Sabah

Turkey's central bank on Friday said it was intervening in the foreign exchange market for the second time this week due to “unhealthy” market...

www.dailysabah.com

"Unhealthy" we're going through an emotional upheavel.

"Libyadan haber gelecek kardeşim masadayız"

 

[Saithan]

I'd make sure to retire entire judiciary picked by AKP and RTE as soon as powers change hands. And start a headhunt on all AKP officials like they did on the Turkish Business man Cem Uzan. sentence each and everyone of them and slam 1-2 Billion USD fine on them, confiscate their properties and factories etc. and slap 50-75% extra tax on them until their debt is paid off.

Stealing from the state and misappropriating ressources and Nepotism are pretty realistic accusations.

 

[Lool]

I'd make sure to retire entire judiciary picked by AKP and RTE as soon as powers change hands. And start a headhunt on all AKP officials like they did on the Turkish Business man Cem Uzan. sentence each and everyone of them and slam 1-2 Billion USD fine on them, confiscate their properties and factories etc. and slap 50-75% extra tax on them until their debt is paid off.

Stealing from the state and misappropriating ressources and Nepotism are pretty realistic accusations.

The moment you fullfill such grandoise dreams, you will leave no party able to control both the CHP and HDP! You will literally create an even worse version of AKP within 2 to 3 years. This will just repeat the scenario of the 1990s. You havent learned from the past at all

That is considering that you can democratically perform what you said though.


The best thing is to punish those who committes wrongdoings within the AKP as long as you have definite proof which in most case would be difficult to achieve

 

[Turko]

Bosch washing machines

Bosch washing machines are made in Türkiye. Even Ukrainian customers can afford it although it is made in Türkiye.
My washing machine and oven are Bosch.

Do you offer us buying BEKO which belongs to Koç who is traitor for AKP?

 

[Saithan]

The moment you fullfill such grandoise dreams, you will leave no party able to control both the CHP and HDP! You will literally create an even worse version of AKP within 2 to 3 years. This will just repeat the scenario of the 1990s. You havent learned from the past at all

That is considering that you can democratically perform what you said though.


The best thing is to punish those who committes wrongdoings within the AKP as long as you have definite proof which in most case would be difficult to achieve

Non sense. If AKP and RTE with MHP were really concerned about proper governance they'd bend over to avoid what you said. But they're not. RTE is very much like Trump and browbeats anyone opposing him.

We'll see how it goes. Besides CHP and HDP alone can't do shit as they need the votes from the other parties as well.

 

[Lool]

We'll see how it goes. Besides CHP and HDP alone can't do shit as they need the votes from the other parties as well.

Hopefully you are right. Though if history (not Turkey's only) is anything to go by, the CHP will find a way to cement its rule for another 30 years; just like how the AKP have done. The only difference is that the HDP will be a critical part of the new infrastructure. The West wouldnt wanna repeat the same mistakes after all

 

[Anastasius]

Turkey to follow China’s economic growth strategy: Erdoğan - Latest News

Turkey can produce goods cheaper and sell those products to other countries and raise revenues in U.S. dollars like China has done, but Turkey has more advantages in terms of luring foreign investments, President Recep Tayyip Erdoğan has said.

www.hurriyetdailynews.com

@Nilgiri as you pointed out RTE thinks he is following in the footsteps of China. This should have been done 30 years ago. Doing now is not going to work, especially not since RTE isn't able to create same trust and reliability of China with regards to FDI and investors.

Turkey should/would have been able to jump into the middle to high tech segment with proper management, but that was not done. So we clear the table and start all over (not really, but the analog should give you an idea of what's being done).

Why does every idiot who wants their nation to be the "next China" forget that China has 1.5 BILLION PEOPLE and their labor force are essentially slaves?

If it was, I don't know, Modi saying something like that, I could at least nod my head and say "OK, well that's possible for India if stupid" but Turkey...come on.

 

[Manomed]

Why does every idiot who wants their nation to be the "next China" forget that China has 1.5 BILLION PEOPLE and their labor force are essentially slaves?

If it was, I don't know, Modi saying something like that, I could at least nod my head and say "OK, well that's possible for India if stupid" but Turkey...come on.

Islamic communism

 

[Indos]

Even a non turk knows better about Turkish economy then so called economy expert akp supporters here

They are not AKP supporter, they are Erdogan supporters. True Islamist will care their AKP future than Erdogan.