Economy keeps crashing in the hands of "strong man" Erdogan, who has fired every Head of Turkish Central Bank who tried to stop him fulfill his own Turkish Dream of hyperinflation in which business is no longer possible as the cost of imports and commodities rises daily. Erdogan's genius policy in a world where growth and investment is stalling is to keep slashing interest rates in the hope of stimulating investment in Turkey's economy... oh and getting his loyal supporters to hand out dollar bills in loyal neighbourhoods so that the people can burn them in front of TV cameras.
This country of 85 million has no economic policy at all anymore. It is a total basket case and failed state in the making. Get out!
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You maniacs! You blew it up! Ah, damn you! God damn you all to hell! --- Taylor
This country of 85 million has no economic policy at all anymore. It is a total basket case and failed state in the making. Get out!
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You maniacs! You blew it up! Ah, damn you! God damn you all to hell! --- Taylor
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LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOL
Erdoğan spent all of Turkey's foreign reserves propping up the Lira in December, that the country's net foreign assets are now -6.5bn usd. At this stage Erdoğan is just providing liquidity to close these mammoth shorts on the Lira. Next year, when USA and EU raise interest rates, we will see the next stage of this fiasco as the Lira begins its decline to 100:1 usd