TR Economy & Updates

[Ravenman]

Your personal observations are not economic news.

When I was a kid, I always hung out in the mall, because that's where everybody met. Not because I had money.

I was talking about the row at Starbucks, not little kids playing and hanging in the mall.

Starbucks is one of the most expensive brands in te world, and especially in Turkey in this economic recession people rather buy a Nescafe in the store and drink coffee at home.

But no, Starbucks was stamped with people, there was a very long row outside the store. So in economic crisis the first thing people do is buying a coffeeshake in Starbucks for 70 TL? Can those young people afford that? And then i saw Popeyes, Burger King, McDonalds, Domino's. Full crowded and no place to sit. Little pizza's and menu's starting from 59.99 TL.

And this is a little town, Elazig. Not a big metropole like Istanbul. I am here now more than a month and i see new constructions, crowded markets, fullpacked traffic and 9 out of 10 people with obesitas.

Economy is the street, and there is no recession at the streets.

 

[TheInsider]

Dude, do you know the population of Elazığ? Let's assume that %10 of that population is considered rich, %30 middle income, and %60 poor. This is enough to fill Starbucks in Elazığ many times. Do you think investors open Starbuck branches without doing market research?

 

[Ravenman]

Dude, do you know the population of Elazığ? Let's assume that %10 of that population is considered rich, %30 middle income, and %60 poor. This is enough to fill Starbucks in Elazığ many times. Do you think investors open Starbuck branches without doing market research?

Elazig has a estimated population of 600.000. It is not a 'Büyükşehir Belediye'.

Those young people that i saw, that couldnt be rich people. It must be Yup's (Young Professionals) or students.

Its impossible that they can afford to drink something in Starbucks in recession and inflation times (same goes for Burger King, McDonalds, Domino's).

All those American brands are full crowded with youngsters. Something is not correct here.

Generation Z (transgenders, femboys, liberals, anti-Erdoganists, leftists, secularists) threatening other Youtubers with death and torture if they differ from opinion.

So far the 'we want freedom of speech' fairytale from the anti-AKP Front.

 

[what]

I think its entirely possible that we have enough people in Elazig that can still afford Starbucks and at the same time millions of people cutting back on food expenses because they can no longer afford them.

 

[TheInsider]

Elazig has a estimated population of 600.000. It is not a 'Büyükşehir Belediye'.

Those young people that i saw, that couldnt be rich people. It must be Yup's (Young Professionals) or students.

Its impossible that they can afford to drink something in Starbucks in recession and inflation times (same goes for Burger King, McDonalds, Domino's).

All those American brands are full crowded with youngsters. Something is not correct here.

Generation Z (transgenders, femboys, liberals, anti-Erdoganists, leftists, secularists) threatening other Youtubers with death and torture if they differ from opinion.

So far the 'we want freedom of speech' fairytale from the anti-AKP Front.

Lol, that is why I asked the population. Even small cities like Elazığ have a big population. You will always find enough people that can afford Starbuck even though we face the risk of Venezuela-level poverty.

 

[Ravenman]

Iran’s Exports to Turkey Grow 57% in 5 Months | Farsnews Agency

 

[Ravenman]

Minimumwage increased from 4250 TL to 5500 TL per month.

Also the lowest pensionado salary becomes 3500 TL.

The price of Diesel and gasoline decreased from 30 TL to 25 TL.

More economic news are coming. I think Clownprince Mohammed Bin Salman's visit to Ankara was very helpfull.

https://www.portseurope.com/joint-initiative-of-serbia-bulgaria-hungary-and-turkey-to-develop-railway-transport/

 

[TheInsider]

Minimumwage increased from 4250 TL to 5500 TL per month.

Also the lowest pensionado salary becomes 3500 TL.

The price of Diesel and gasoline decreased from 30 TL to 25 TL.

More economic news are coming. I think Clownprince Mohammed Bin Salman's visit to Ankara was very helpfull.

https://www.portseurope.com/joint-initiative-of-serbia-bulgaria-hungary-and-turkey-to-develop-railway-transport/

Price of diesel has nothing to do with the economy it is tied to the price of oil in the international market and the TR/USD exchange rate(currently 17.21).
Minimum wage increase, state worker's wage increase and pension increase will fuel inflation. I expect TR to throw the towel this fall. We are on a route to bankruptcy/default.

 

[TheInsider]

I'm leaving another bomb. AKP is in secret negotiations with IMF. After days of discussions, AKP higher cadres managed to convince Erdoğan to hold negotiations with IMF. Erdo only gave permission to find out the terms of the IMF.

 

[Yasar_TR]

After your previous post I almost wrote “ wait for IMF to get involved”.
You have beaten me to it with your bombshell. When you pull the foundation away from your financial backbone that is what you get.
We were like a guy who owes a lot of money to people and pays it off by borrowing from others at ever increasing interest rates. There comes a time when he hits a wall.

 

[Lool]

I'm leaving another bomb. AKP is in secret negotiations with IMF. After days of discussions, AKP higher cadres managed to convince Erdoğan to hold negotiations with IMF. Erdo only gave permission to find out the terms of the IMF.

Why on earth would he borrow from the IMF when all what he should do is just increase the interest rates?
I do believe that sooner or later, Erdo will raise the white flag and increase the interest rates but I do remember watching a video where he says that he will never ever borrow from the IMF ever again

 

[TheInsider]

Why on earth would he borrow from the IMF when all what he should do is just increase the interest rates?
I do believe that sooner or later, Erdo will raise the white flag and increase the interest rates but I do remember watching a video where he says that he will never ever borrow from the IMF ever again

Turkiye pays a %10+ interest rate when it borrows money. We can borrow money from IMF with way better terms.

 

[TheInsider]

After your previous post I almost wrote “ wait for IMF to get involved”.
You have beaten me to it with your bombshell. When you pull the foundation away from your financial backbone that is what you get.
We were like a guy who owes a lot of money to people and pays it off by borrowing from others at ever increasing interest rates. There comes a time when he hits a wall.

AKP wants to borrow 50-60 billion $ from the IMF but I think this won't save us if AKP continues unorthodox monetary policies. I fear that they want this money to win the elections.

 

[Lool]

AKP wants to borrow 50-60 billion $ from the IMF but I think this won't save us if AKP continues unorthodox monetary policies. I fear that they want this money to win the elections.

50-60 billion wont be enough with the current policies tbh

With gas prices soo high, and Turkey still being dependent on foreign gas, Turkey will need around 2 billion dollars per week to start improving the lira's value and as the lira's value improves, more money will be needed per week to sustain the new improved lira's value. In other words, the 50-60 billion in question will only be enough for 2 to 3 month at best

 

[Rodeo]

AKP wants to borrow 50-60 billion $ from the IMF but I think this won't save us if AKP continues unorthodox monetary policies. I fear that they want this money to win the elections.

With IMF on the table, you can't pursue "unorthodox monetary policies" afaik.

 

[TheInsider]

With IMF on the table, you can't pursue "unorthodox monetary policies" afaik.

Yes. IMF will dictate a return to the orthodox monetary policies. We will see how Erdo reacts to this demand.

 

[Anastasius]

I will never understand what kind of thought process has led the IMF to become the boogeyman of every economically unstable country on the planet. Literally all they do is give out loans (under strict conditions) and draw up easy to follow business plans for countries to fix their economies. Literally every single country that has failed after getting entangled with the IMF has failed because they decided not to follow their advice.

It's like asking a mechanic for advice on fixing your car, only doing 50% best of what they advised at best and then complaining when your car is still broken.

And I'm still amazed that nobody has shot Erdogan yet. Even the AKP sounds like they don't like him much.

 

[Lool]

I will never understand what kind of thought process has led the IMF to become the boogeyman of every economically unstable country on the planet. Literally all they do is give out loans (under strict conditions) and draw up easy to follow business plans for countries to fix their economies. Literally every single country that has failed after getting entangled with the IMF has failed because they decided not to follow their advice.

Hahahaha, many ppl in the West appears to believe that the IMF is a saint organisation even though it si the worst organisation ever

I want you to get this straight, The IMF main goal isnt to help unstable countries; but to ensure that unstable countries remain even more unstable or better to just completely break economically. A proof of this is Egypt! No country ever fullfilled IMF's demands as much as Egypt and yet their economy is getting even worse. I read in the Middle East Eye that just the interest of the previous loans is taking around 70% of the yearly budget and that for the country to continue working, they are taking even more loans! This is a viscious cycle in which you borrow once and you will be trapped in an everlasting hell till the day the country cease to exist! The only way to benefit from an IMF loan is to have no corruption at all; something that is impossiboe to happen no matter which country you are living in

In fact, in 2012 or 2013, the day Turkey paid all of its debt to the IMF, Erdogan swore to not ever borrow from the IMF again as it will just screw Turkey and not help it and after seeing what is happening in countries like Egypt, I must say that the man is 100% right! There is nothing called a bank helping countries but it is nothing more than an instituiton set up by world powers to control weaker countries even more.

It's like asking a mechanic for advice on fixing your car, only doing 50% best of what they advised at best and then complaining when your car is still broken.

And I'm still amazed that nobody has shot Erdogan yet. Even the AKP sounds like they don't like him much.

The AKP cant kill Erdogan since the main reason that the AKP is in power is because of him in the first place. AKP as a party is no different from the CHP or iYi tbh! It is filled with shitty liberals, gays, fools who are trying to portray themselves as nationalists under the guise of religion! However, Erdo has standards that much Iam sure of; although his current economic policy is the worst I have seen tbh! Most of Turkey's problems can be solved with interest rate rise and Erdo is refusing to do that; I understand his point of view but the current circumstances do indicate that some losses are inevitable for stability

Whom will I replace Erdo with is also a question that needs to be answered before he gets sacked; all the other competitiors are shitty pricks that deserves death even more than Erdo. The only ones who seem to be decent nowadays are Umit Ozdag and Yavas and trust me they will never win with the current trend

 

[I_Love_F16]

The only ones who seem to be decent nowadays are Umit Ozdag and Yavas and trust me they will never win with the current trend

Why ? Not enough votes ? Or AKP will try to suppress them ?

 

[Tonyukuk]

The economy won't get better with RTE in charge. He is a liability, a hindrance and a burden on this nation's wellbeing. RTE and his policies are responsible for every single issue we are facing. Crying about "outside forces" again will only fool the dumbest of citizens.

Even KK would be preferable, at least refugees would be forced to leave and the economy would start to recover. If he is sh*t too, then he will get kicked out after his first term. RTE wants to rule until his death. The head of this anaconda needs to be cut, other snakes will be easier to deal with.