Turkish Economy - News & Updates

[Killuminati]

I don't give a f*** about Brunson. Execute him. I really don't care. Don't forget that your buddy Gülen was best friends with Erdoğan. All you AKP fans knowingly supported him for years. Do you think this is a f****** joke? We warned you about fetö long ago. As for PKK/YPG.. Who made piece with them when they were in the brink of defeat? Who covertly allowed ISIS to thrive in order to fuel the expansion of YPG?

Well this all goes back to Menderes. That bastard made us a slave to America.

Cant argue with people that has blinkers on. Good luck with your narrow minded mentality

 

[Viet]

Yes, IMF credits come with structural adjustment proposals, which, I guess Turkey did post-2001 and the next 10 years of not-so-bad growth was thanks to the very bitter program Turkey carried out under the previous government.

But, the previous government paid the price for being pragmatist, and the following Islamist government (current one) both took advantage of the growth and also plundered it for more than a decade.

Now, there is yet another, bigger crisis right at the door.

Worse yet, back in 2001, Turkey foreign policy was normal, or even outstanding, hence relations with right and left of global politics were good.

Now there is hardly any meaningful country left for Turkey to weather this storm. And Turkey is not China or even Iran, a little sanctions or even warning by the US will bring its economy into a total collapse.

Turkey is not a sincere actor. Not any more. Neither China/Russia, nor US/NATO can trust it. Only take advantage of it. Which is sad. What is left for Turkey is countries like Somalia in which the current president goes to pick up some little boys to adopt or build some mosques.

Turkey used to be one the textbook example of good, balanced foreign policy.

Economy is never separate from foreign policy, especially from neighborhood policy.

I usually don´t agree with you on many things, but in the case of Turkey you are right. Too bad. Turkey is approaching an abyss, but its leadership is pushing further on the gas pedal, betting everything remains good and great. Unless the president of the Turkey changes his mind in the next days, the country will soon reach the point of no return.

Politics should be free of emotions. Even if one hates America for any reason, it is unwise to overestimate the own strength, playing anti US sentiment for domestic, nationalistic or religious consumption.

 

[Offshore]

I usually don´t agree with you on many things, but in the case of Turkey you are right. Too bad. Turkey is approaching an abyss, but its leadership is pushing further on the gas pedal, betting everything remains good and great. Unless the president of the Turkey changes his mind in the next days, the country will soon reach the point of no return.

Politics should be free of emotions. Even if one hates America for any reason, it is unwise to overestimate the own strength, playing anti US sentiment for domestic, nationalistic or religious consumption.

i hope you don't have any Portfolio investment in turkey and europe..
winter is coming dude..

 

[UzaySan]

US pushes Turkey to east side with its own hands.Pastor Brunson is just visible part of iceberg.and even we gave brunson back US wont stop to treat us like we are shit. Actually low value Lira is an oportunity to fix our economic model.And it wont hit you hard if you are not luxury addict person(like buy new phone every year or using 0km car with your state worker salary).We have cheap men force right now.And 250$ minimum wage.Its less than china.We will feel pain in the beggining but if we act wisely at the end of the road we will have a strong and independent economy like china.This is an opportunity we will never get again.We have to use it

And we have to protect cyprus gas very well because we will need it.$ = 6.5 and barrel oil price is 77$.

 

[Offshore]

US pushes Turkey to east side with its own hands.Pastor Brunson is just visible part of iceberg.and even we gave brunson back US wont stop to treat us like we are shit. Actually low value Lira is an oportunity to fix our economic model.And it wont hit you hard if you are not luxury addict person(like buy new phone every year or using 0km car with your state worker salary).We have cheap men force right now.And 250$ minimum wage.Its less than china.We will feel pain in the beggining but if we act wisely at the end of the road we will have a strong and independent economy like china.This is an opportunity we will never get again.We have to use it

And we have to protect cyprus gas very well because we will need it.$ = 6.5 and barrel oil price is 77$.

turkey got foreign debt need to be paid in $$$ not in lira.
with US pressure and The FED interest rate up. this will push lira down even faster.
if Turkey bank not raising the interest, this will put turkey bank in crisis and the beginning of financial crisis start from here.
looks i'm not going to trolling here, but i have my sympaty toward turkey, no country should end up like venezuela

 

[UzaySan]

turkey got foreign debt need to be paid in $$$ not in lira.
with US pressure and The FED interest rate up. this will push lira down even faster.

I know and im saying we have to use it.

 

[SouI]

i try to understand you guys but come on why kneel down to the us because of this crisis. it will make them even stronger against us . never bown down. its the same as selling your family for money

Compromising and collaborating is not 'kneeling down'... Even US does it.. even for countries like north korea...

The thing is that we may have hyperinflation if we would get 2-3 more days with 15% value loss in the currency.

And we have far more than 3 days until the end of the year.

And that religious guy.. What is up with him? He is still not charged with any crime by the justice system. And even if he were a real terrorist.. There are millions of fetullahist terrorists in our country alone. What difference would it make to have one more walking around? And he already said he will not stay in Turkey soo..

Freeing that pastor will not really solve any of our economic problems but at least we will have a little bit less tensions with USA which is a good thing. They are still the strongest nation on earth by all metrics and dont get me now with the memo of 'even if they are strong, we should resist!!'. There is no government to resist for right now. The one we have IS THE ONLY REASON why there is such a huge power difference between US and Turkey to begin with.

If we had put all that cheap credit coming from US into the industry in the early AKP era rather than into the concrete, then our economy wouldnt be in such a situation now.

Erdogan IS the reason why we are having all these problems, not USA.

 

[xenon54 out]

We're not saying that Turkey should bow down to the US... What we are saying is that Erdogan has f***** up our economy by making bad decisions for years. Instead of investing in commercialisation, agriculture and industry, he put all of Turkey's eggs into one basket... Construction. We have put billions of dollars into concrete. Do you realise how much money has been wasted? Our factories are shutting down and being sold to foreigners. He is knowingly sending our economy into a nose dive.

Reading the responses from pro goverment people you can see a clear pattern a)they think critisizm on goverment failures is bowing down to ''foreign forces'' or badmouthing the country b)they clearly dont know how economy works c)its everybodies fault but the goverments d) its only needs a short conversation till you become a traitor.

He didn't see when cash desk throw away, maybe he will see it.

People did way worse than this in the last year the difference is nobody did it in front of president, well how could they? The president is only traveling with is own army of securities completely detached from his people, yet if someone somehow managed to do a similar protest he would go to jail for a long time, that my friend is the difference of todays Turkey to that of 2001, not that the economy is better.

 

[Offshore]

turkey need to let the ego off for a while.
ease the tension with Trump, otherwise no investor will coming to turkey with trade war threat coming from trump every day in and out.

 

[Viet]

i hope you don't have any Portfolio investment in turkey and europe..
winter is coming dude..

Not Turkey, but I have much in German stocks, so US and China stocks. Actually invest or not invest is much like politics. It should never guided by emotion. Neither nationalism nor fatalism. What’s the point to feel great for a day (hey we stand up against evil America!) but the millions of common people will suffer for years?

The feeling of greatness quickly fades away and the only thing that remains is the pain.

 

[Offshore]

Not Turkey, but I have much in German stocks, so US and China stocks. Actually invest or not invest is much like politics. It should never guided by emotion. Neither nationalism nor fatalism. What’s the point to feel great for a day (hey we stand up against evil America!) but the millions of common people will suffer for years?

The feeling of greatness quickly fades away and the only thing that remains is the pain.

avoid any financial stocks in europe.

 

[Fenasi Kerim]

By the way I am surprised no one mentioned that the finance minister talked complete bullshit and didn’t mention a single number or actual thing we are going to do.

Did anyone else realise his hand gestures and jumping around.

 

[mr.robot]

turkey need to let the ego off for a while.
ease the tension with Trump, otherwise no investor will coming to turkey with trade war threat coming from trump every day in and out.

Can't Turkey move the resources hit with tariff to somewhere else like Africa?

 

[KingWest]

Erdogan needs to adress the issues firstly instead of blaming Foreign powers. Secondly, he needs to fire his son in LAW and replace him with an economics professor. Next, he needs to swear he will leave the central bank alone. And finaly, ne needs to shut up and stop talking about conspirisy theories. This will help restore investor confidence in the short term. This needs to be done asap

 

[Offshore]

Can't Turkey move the resources hit with tariff to somewhere else like Africa?

you mean using third party port to get their product into US?
or turkey dump their product to africa?
if you mean first option : it's impossible! no US company dare to take a risk. also it's already way to expensive to move your cargo from one place to another place then move it to america, it's extra cost. economic sense it's impossible.
short answer it's logistic nightmare

By the way I am surprised no one mentioned that the finance minister talked complete bullshit and didn’t mention a single number or actual thing we are going to do.

Did anyone else realise his hand gestures and jumping around.

your finance minister need to calm the situation even though the situation is worst.
every words coming from his mouth will effect market, he need really careful crafted every words coming from his mouth.
it's about perception

i can bet erdogan have conflict interest in his business or whatsoever, that's why he hold turkey central bank from rising interest rate..
when you got a president and business man as your leader, never expect things will going well. it's eventualy will end up with conflict interest