WHEN YOU RE-ELECT AN IGNORANT LEADER, YOUR ECONOMY PILES UP?! NOOOOO WAAAAAAYYY
Please match the headline and the graphic. Either show a Lira – Euro graph or claim the Euro has gained value.
They got what they voted for.
Isn’t Lira losing value continuously for last 6 – 12 months ?
You maybe have dolar but we have GOD.
In fact, the tl is not losing value, it is just trying to get to where it is now. Since they suppressed the dollar throughout the election, they kept it constantly in the 18-19 band. This led to the depletion of the reserves of the Central Bank of Turkey. I think the dollar is around 27-30 tl.
Expect more comments about Greece from the Turkish government.
Turkey as a whole lost value since Erdogan’s re-election
This was going to happen regardless. I hate Erdogan with a passion but the damage was already done years prior to this point under his corrupted management. It’s like stage 4 cancer there is no magical cure, patient is going to die. The question is how painful it is going to be and if she will be able to be resurrected or reincarnate later on.
Is this graph bitcoin?
I mean this is totally expected. As of his return to conventional monetary policy Mehmet Şimşek pretty much removed all defenses around the lira. He doesn’t want to even try stabilizing the currency at the current value.
He will let the lira free fall until it reaches market value and stabilize it there. That means the fall will continue likely till 28-30 which analyst think is the current market value of the Lira. As long as Şimşek can manga to balance the economy around a lira of that value and pull salaries up accordingly without increasing inflation it should be fine.
well he promised allah would help him… did anyone see allah ?
They had not one, but two elections to fix this, so…oh no anyway moving on.
Turks in Germany like this.
As a Turkish-American, it’s astonishing to witness the persistently high value of the Turkish lira. Despite experiencing a significant decline, Turkey has been grappling with inflation rates of approximately 100-150% over the past four years. The higher the inflation in comparison to other nations, the quicker the local currency depreciates. In my view, the Turkish lira is poised to decline further, perhaps by 40-60%. Unfortunately, Erdogan’s government has been excessively printing Turkish lira for the past five years, seemingly without any consideration for the burden it places on future generations and the country’s long-term debt. Their primary focus was winning elections, even if it meant burdening the nation with debt indefinitely.
Interestingly, the average Turkish citizen enjoys a relatively affluent lifestyle, despite their productivity levels being among the lowest in Europe. It appears that many Turkish individuals are disinclined to work diligently and prefer to enjoy the benefits without striving for a European-standard lifestyle. It’s akin to teenagers having a credit card without comprehending the eventual need to pay off the balance. Erdogan resorted to bribing the public to secure electoral victory.
On the other hand, the opposition is equally problematic. I’ve been monitoring the r/turkey subreddit for some time, and it’s difficult to find an English word that adequately captures the extent of delusion prevalent among the opposition.
Regrettably, it’s challenging to come to terms with the impending bankruptcy of Turkey, which may lead it down a path similar to that of Lebanon within a few years, or even months.
Relax dudes is 23.16 now 🤡
Isn’t this exactly what Erdogan wants? A weak currency to incentivize exports and local production?
Ok. Who’s betting the Turkish econony crashes by the end of the year?
It was only expected, they were using all their power to keep it in check and now it’ll probably explode on us very fast.
This was going to happen no matter the result of the election though
Is there any specific reason behind Erdogan’s policies that have led to this situation? I mean, everyone is making jokes about it, but there must be some underlying rationale as to why Erdogan continues to pursue such disastrous policies year after year, despite the visible consequences. I haven’t come across any in-depth analysis on this matter. Or does he simply just hate Turkey so much he wants the country to collapse?
sad Stonks
To the surprise of no one.
Erdoganidis moment
This is great news for those working abroad – they can live and pretend to be kings when back home
I’m too happy about it. They sees what they deserve.
Almost wanna say they absolutely deserve this but then remember that almost half the country didn’t want this clown as a president. Kinda feel bad
26 comments
NO WAAAAYY!!1
WHEN YOU RE-ELECT AN IGNORANT LEADER, YOUR ECONOMY PILES UP?! NOOOOO WAAAAAAYYY
Please match the headline and the graphic. Either show a Lira – Euro graph or claim the Euro has gained value.
They got what they voted for.
Isn’t Lira losing value continuously for last 6 – 12 months ?
You maybe have dolar but we have GOD.
In fact, the tl is not losing value, it is just trying to get to where it is now. Since they suppressed the dollar throughout the election, they kept it constantly in the 18-19 band. This led to the depletion of the reserves of the Central Bank of Turkey. I think the dollar is around 27-30 tl.
Expect more comments about Greece from the Turkish government.
Turkey as a whole lost value since Erdogan’s re-election
This was going to happen regardless. I hate Erdogan with a passion but the damage was already done years prior to this point under his corrupted management. It’s like stage 4 cancer there is no magical cure, patient is going to die. The question is how painful it is going to be and if she will be able to be resurrected or reincarnate later on.
Is this graph bitcoin?
I mean this is totally expected. As of his return to conventional monetary policy Mehmet Şimşek pretty much removed all defenses around the lira. He doesn’t want to even try stabilizing the currency at the current value.
He will let the lira free fall until it reaches market value and stabilize it there. That means the fall will continue likely till 28-30 which analyst think is the current market value of the Lira. As long as Şimşek can manga to balance the economy around a lira of that value and pull salaries up accordingly without increasing inflation it should be fine.
well he promised allah would help him… did anyone see allah ?
They had not one, but two elections to fix this, so…oh no anyway moving on.
Turks in Germany like this.
As a Turkish-American, it’s astonishing to witness the persistently high value of the Turkish lira. Despite experiencing a significant decline, Turkey has been grappling with inflation rates of approximately 100-150% over the past four years. The higher the inflation in comparison to other nations, the quicker the local currency depreciates. In my view, the Turkish lira is poised to decline further, perhaps by 40-60%. Unfortunately, Erdogan’s government has been excessively printing Turkish lira for the past five years, seemingly without any consideration for the burden it places on future generations and the country’s long-term debt. Their primary focus was winning elections, even if it meant burdening the nation with debt indefinitely.
Interestingly, the average Turkish citizen enjoys a relatively affluent lifestyle, despite their productivity levels being among the lowest in Europe. It appears that many Turkish individuals are disinclined to work diligently and prefer to enjoy the benefits without striving for a European-standard lifestyle. It’s akin to teenagers having a credit card without comprehending the eventual need to pay off the balance. Erdogan resorted to bribing the public to secure electoral victory.
On the other hand, the opposition is equally problematic. I’ve been monitoring the r/turkey subreddit for some time, and it’s difficult to find an English word that adequately captures the extent of delusion prevalent among the opposition.
Regrettably, it’s challenging to come to terms with the impending bankruptcy of Turkey, which may lead it down a path similar to that of Lebanon within a few years, or even months.
Relax dudes is 23.16 now 🤡
Isn’t this exactly what Erdogan wants? A weak currency to incentivize exports and local production?
Ok. Who’s betting the Turkish econony crashes by the end of the year?
It was only expected, they were using all their power to keep it in check and now it’ll probably explode on us very fast.
This was going to happen no matter the result of the election though
Is there any specific reason behind Erdogan’s policies that have led to this situation? I mean, everyone is making jokes about it, but there must be some underlying rationale as to why Erdogan continues to pursue such disastrous policies year after year, despite the visible consequences. I haven’t come across any in-depth analysis on this matter. Or does he simply just hate Turkey so much he wants the country to collapse?
sad Stonks
To the surprise of no one.
Erdoganidis moment
This is great news for those working abroad – they can live and pretend to be kings when back home
I’m too happy about it. They sees what they deserve.
Almost wanna say they absolutely deserve this but then remember that almost half the country didn’t want this clown as a president. Kinda feel bad