He is hosting African dictators while his people can’t afford bread. Turkey is the Next Zimbabwea and Lebanon
Erdogan destroying Turkish economy
- Thread starter En_Sabah Nur
- Start date
Erdoğan is a righteous Muslim leader, it seems you are only here to ruin his image.
Don’t be a retard. What image is there to ruin? He’s destroying his countries economy with low interest rates and causing massive inflation.
“Ruin his image”
he is ruining his own image. His incompetence and constant interference with the Turkish central bank has caused this. Now you want to blame others.He lowered the interest rate in order to stabilise the situation and I believe if he did not take that measure the drop would've been worse.This dude believed if he cut back the insterest rates the inflation and lira collapse will disappear. This is economy 101, but what do you expect from erdogan
You are talking about the same man who led economic reforms early on in his career which increased the living conditions in Turkey like never before. Recent times has seen US sanctions and this unfortunate Covid-19 pandemic reduce the Turkish economy, this is all external factors rather than entirely the result of Erdoğan's policies. The only ones who are against him are the secular liberal youth who love to kowtow to Western traditions and culture.
NordicSomali
VIP
The interest rate in Turkey has to be high because it’s a risky country. If Erdogan was a more predictable leader then investors might’ve accepted a lower rate. Economics has nothing to do with freedom.
Yeah they want a predictable puppet Muslim leader like Assad or the former Afghan President Ashraf Ghani. Erdoğan however is too based for the West, so they resort to supporting internal opposition and slandering him.
What? It made it worse. Increasing the interest rate stabilize the Lira, that is a basic concept in economics. economists were surprised by his moves
Dire situations requires a diversion from conventional economic practices, it is not unheard of to lower interest rates to stimulate an economy. Western banks have also done so during the Pandemic to reduce the impact on the global economy.
NordicSomali
VIP
The problem is that inflation happens quickly and the benefits from lower rates takes time since it requires the capacity to actually increase production and do more work.
Also inflation can linger for a while if people expect it to last.
The bigger problem is paying back foreign debt when the lira is so cheap, it’s chatastrophy for all turkish debtors with foreign debt.
The country is also flooded with foreigners buying real estate. As soon as they start raising rates, the real estate market will collapse. This is what happens when you have a dictator who meddles with monetary policy
SOMALI GENERAL
VIP
he shoulda left the country central bank alone tbh.
Dude kept on firing and appointing the heads. Investors fled after.
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