Comments by "Samson Soturian" (@samsonsoturian6013) on "Turkey's Unravelling Economy." video.

  1. I actually shorted their currency a couple months ago and tripled down on my position over the past few weeks. As Charles Munger said: "The way to get rich is to compete against complete idiots."
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  2. Caveats: Turkey was never really secular, nor a democracy, nor were their central banks ever really independent, nor were they a middle income country. The central bank positions largely went to the clansmen of oligarchs, and all modernization was a product of foreign investment while the rest was fraudulent (ranging from fake schools to trumped up hospitals). The minimum is also a bit irrelevant since a large portion of employers are behind on payroll, and much of the economy is in the form of street vendors and day laborers.
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  3. Turkish elections Do Not Matter. It's convoluted but Turkey has a European style party-list system where many parties run and form a compromise government after. However, there's literally hundreds of parties in Turkey, most of them local tribal affairs, and the election threshhold is 10%. This means the bulk of the votes goes to whomever can "negotiate" deals with the most minor parties to add their votes to a larger party list (YES, they are buying votes). For obvious reasons this system favors the incumbent ruling party every time, who simply incorporates some of the opposition and buys off or fights off the rest. More importantly there are several parties banned, and they are targeted with trumped up charges and discrimination is not only tolerated but encouraged. Right now the Kurds are getting the hate but understand Turkey has always been at war with one part of its population or another. Brawls between parties are also common. No one knows exactly how much of this happens since no one local will talk about it but fist fights, harassment, arson, and sometimes murder between political activists is not uncommon. Like most middle east republics, Turkey was never really a democracy. It was an empire with a de facto Sultan granting fiefs as expedient just as they always have.
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  4. "Moving away from democracy costs the economy." Not necessarily. However, the crime/infighting that causes the collapse of elected institutions will also destroy an economy. This is a common sight these days, where many turdworld state try to maintain at least the fascad of democracy only for it to break like a twig once something significant happens.
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  5.  @GowthamNatarajanAI  He's an American. Defaming America is mandatory in America.
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  6.  @computingbee  You're a liar too
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  7. Alive and living in squalor.
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  8. The stocks are extremely volatile.
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  9. You think anyone in Turkey has any idea what they're doing? Turks were even burning dollars thinking it would strengthen the Lira.
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  10.  @CA999  well, you're on the right channel since you don't know a thing about economics or global affairs
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  11. They were already experiencing dollarization and GDP per capita has fallen by a quarter in the last decade
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  12. In Turkey, "illegal" is an insult, not an allegation.
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  13. It's just another case of the nuts running the nuthouse
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  14. Grinding lower slowly.
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