TR Economy & Updates

[Anmdt]

so, what now?

https://twitter.com/i/web/status/1373878288393895938

Lol, look at it now it is on edge of 8 eyeing to pass it.
This tweeter is a member of hulooog foundation. They think it is a manipulation, can't spend sometime to see the facts that reliability of central bank and justice is on the grounds.
And Lol for once more, he literally called going from 8.4 to 7.75 as "strong valuation" while he can not see the fact that it is a " strong devaluation"
8.4 was the asian markets where lira had rather small stocks,
It has fallen back once Turkish market was open,
and risen again when london market was open
It means ,international market is selling Lira, domestic market (guess who,we know this part of the story) buys lira to keep the value below 8.

 

[mulj]

Lol, look at it now it is on edge of 8 eyeing to pass it.
This tweeter is a member of hulooog foundation. They think it is a manipulation, can't spend sometime to see the facts that reliability of central bank and justice is on the grounds.

it does not matter, just wanted to emphasize how flawed currency stock market is.

https://twitter.com/i/web/status/1373879555308589059

 

[Deliorman]

so, what now?

https://twitter.com/i/web/status/1373878288393895938

That doesn’t change the fact that the TL lost 10% of its value after one stupid decision in the middle of the Night by the Mad Sultan.

Even if it gets back to 7,20 (which is still awfully low) in a few days or weeks it has already done damage to many businesses- the whole Istanbul Stock exchange crashed dude...

Even if it “stabilizes” at that price the TL is one stupid decision away from crashing again and again and again. I told you the exact same thing weeks ago but you are unable to understand it.

 

[Deliorman]

Erdogan and his corrupt clique just has to go away... this is the whole truth. Those last 5-6 years just completely ruined everything good that was achieved since the start of the century.
After 20 years of running the country He just has to go away because the road has ended. No matter who you are and what you do at a certain point you are just not fit enough to do your job and you bring more negatives than positives... so just retire already.

 

[uzaysan]

so, what now?

https://twitter.com/i/web/status/1373878288393895938

TL jumps to 8 from 7:
TL fall to 7.85 from 8: see tl gaining value?

 

[mulj]

TL jumps to 8 from 7:
TL fall to 7.85 from 8: see tl gaining value?

well, if this market stock shocks will decide elections and bring you more prosperity, i will not object that at all but i doubt so.

 

[Costin84]

so, what now?

https://twitter.com/i/web/status/1373878288393895938

Aren't you tired of the same BS? Anyone of us knew instantly that Erdogan's idiotic move will have severe consequences for the lira in the coming week. Even trying to lower the price for the lira will cost the Turkish state billions of $

 

[Ryder]

People who fck up their economies should not cry about imperialism and colonialism.

If the West has ever colonised the world its maybe the people themselves who allowed them to be in this situation at the first place.

After that we easily find a scapegoat. Remember this a country will collapse within not externally because all you need is a bunch of people to screw up while you sit back and enjoy the show.

Humans resort to conspiracy theories because we will never understand complex issues so conspiracy theories are easily believable.

 

[mulj]

Aren't you tired of the same BS? Anyone of us knew instantly that Erdogan's idiotic move will have severe consequences for the lira in the coming week. Even trying to lower the price for the lira will cost the Turkish state billions of $

if you knew, you could become new george soros.

 

[Costin84]

if you knew, you could become new george soros.

Everyone knew on Saturday morning that the lira would take a beating on Monday. Right know, the state is burning away billions trying to keep the lira afloat.

 

[Deliorman]

Everyone knew on Saturday morning that the lira would take a beating on Monday. Right know, the state is burning away billions trying to keep the lira afloat.

Bro... we are all wasting our time trying to explain simple things to people that just DON’T WANT to understand and see. That’s the epitome of INDOCTRINATION- no matter how many facts and truths and official statistics you show someone, He just can’t admit that his POV has any flaws or that you are right even if what you say is an 1000% truth.

 

[mulj]

Bro... we are all wasting our time trying to explain simple things to people that just DON’T WANT to understand and see. That’s the epitome of INDOCTRINATION- no matter how many facts and truths and official statistics you show someone, He just can’t admit that his POV has any flaws or that you are right even if what you say is an 1000% truth.

and that does not apply to you, you are epitome of objecitivity? pretty bold statement.
noone denies figures and setbacks just shading some light on them, how hard is to understand that?

 

[Ryder]

Bro... we are all wasting our time trying to explain simple things to people that just DON’T WANT to understand and see. That’s the epitome of INDOCTRINATION- no matter how many facts and truths and official statistics you show someone, He just can’t admit that his POV has any flaws or that you are right even if what you say is an 1000% truth.

I seen posts of people especially tayyip supporters saying if the lira becomes becomes 50 against 1 us dollar they will support Tayyip all the way.

Turkey has too much partisanship and that politicians and parties are treated like football teams.

Damage is being done who gives a shit because you got to support the team all the way. So fanatic if only people can put their country above and its interests not stick with one man.

Tayyip has become like Arsene Wenger.

 

[Tornadoss]

It easy to blame foreign powers. Government should have been take precautions for such "attacks", be prepared for every threat. However, this is much more own doing of the government.

 

[Turko]

dollar rate is not the reason, the result of fragile economy which the current government havent been able to deal it for 20 years.
Which economic model have we used so far? İnterest/current rates , stock exchanges aren't the main economic functions since they're just instruments. So far the nepotism have been the major factor of bids so that we're here today.

 

[Nilgiri]

Every credit rating agency which designates is a country worth investing or nor is on U.S.' payroll.


Not interest but another lobby.Any country happens to be same geography with certain country and not ruled by a dictator/goverment loyal U.S. atacked specially if they are muslim majority country.

If it were so simple, why does China have very high and good credit rating from same agencies?

Similarly many more pro-US countries have far worse credit ratings than China.

They (China) are far greater of a threat to west/US, yet that stuff is kept to political paradigm/theatre...with no leeching over to credit agencies as political instrument.

It is fairly easy to delineate wall street and DC swamp on various matters if you know how and are pragmatic.

 

[what]

Incoming AKPian arguments will be like

 

[Akhtar]

https://twitter.com/i/web/status/1373922748427292672

Rather confusing fighting in the comments, but Azerbaijan does have reason to celebrate. The weapons and construction contracts just became far cheaper to pay.


Also interesting paper:

https://dergipark.org.tr/en/download/article-file/1013362

"However, if the dependency on imports is high, the contribution of the increase in exports to the national economy loses its significance. The main reason for this is that the increase of the imported goods in the form of raw materials or intermediates become a necessity in order to increase exports."

"Accordingly, one-unit increase in imports can lead to an increase of only 0.48 units in exports. This leads us to the conclusion that increasing foreign trade may have negative effects aside from the positive consequences on the Turkey’s economy."

 

[Nilgiri]

Rather confusing fighting in the comments, but Azerbaijan does have reason to celebrate. The weapons and construction contracts just became far cheaper to pay.

Short term look tbh. AZ would want Turkey to be as strong and economically powerful as possible...and any payment pressure for AZ (w.r.t goods, military or not) is handled by appropriate mechanism from Turkish side (specific long term loans etc).

Weak Turkish economy (by weak TL and thus itself credit reliant) simply to be able to buy more from it with better term of trade is not in AZ interest. AZ is not a huge economy w.r.t Turkey anyway....it is brother relationship guided.

Erdonomics is a running antithesis (powerful Turkish economy with pragmatic+reformed steps to achieve potential) of that lately.

 

[Foulgrim]

My view on Turkey's finances is this:
China has invested heavily in Pakistan's economy, reshaping the entire country with huge value projects (62 billion $ China-Pakistan Economic Corridor). This investment also concerns Turkey (future investments of 100 billion $) as it will be the connecting link of China in the European market. The Belt and Road Initiative economic program involves more than 70 countries worldwide. Anyone who observes the course of this program well will see that all the countries that are friendly to Turkey will develop to a tremendous degree. China will never let such an important link as Turkey collapse financially because then China's dreams of One Belt and One Road entering Europe via Asia will be jeopardized. This is the big picture for me where no one in the US cares so much when analyzing the Turkish economy. The Anglo-Saxon axis forgets the economic expansion of China, how important Turkey and the other Turkic countries are.