Comments by "" (@larsstougaard7097) on "Turkish lira in freefall over Erdogan's 'unorthodox' inflation theory | DW News" video.

@fayezfarhan4893 There are plenty articles about the turkish economy out there and the growth has been largely driven big construction projects that was done with huge loans tight to the dollar. And throw into the mix Erdogan's economy philosophy that goes against what everyone else do in the marked. Its was a debts driven totally out of balance. The lira has now lost half of its value compared to 2018 and is in big trouble. The religious institutions also steps in, The Diyanet has issued fatwas advising people to cut down on unnecessary purchases and go to farmers’ markets in the late afternoon to save money. Another sermon reminded Turks that “poor people are closest to God”. Last week, as markets shuddered, the chief imam of Istanbul’s iconic Hagia Sophia mosque tweeted: “God will test believers with fear and hunger, with a decline in their lives and belongings, but God will award the patient ones at the end." Let the ship sink, there is nothing we can do than pray 🙏
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Sesame sesame open the door, Ali baba economy in Turkey 💎🤑
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@petitwhite6366 Some of the factors that characterise high and persistent inflation in Turkey are high public sector budget deficits; monetisation of public sector budget deficits, massive infrastructure investments of the various governments, such as for the Southeastern Anatolian Project; high military expenditures. Also investors have low confidence in how the economy is run, as Erdogan seems very irrationally and unstable in his views, fire and hire left and right. If the head of the national bank just is a puppet that have very limited power, its hard to trust in long term strategy. Every country need a good stable system that can be trusted and that follow the international marked.
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@kradonrace yes better collapse the country than follow international financial rules. Turkey has a sizeable private and public debt of some US$440 billion owed to foreign creditors and mostly denominated in US dollars. They should have got the money 💰 from the chinese or something.
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The Diyanet has issued fatwas advising people to cut down on unnecessary purchases and go to farmers’ markets in the late afternoon to save money. Another sermon reminded Turks that “poor people are closest to God”. Last week, as markets shuddered, the chief imam of Istanbul’s iconic Hagia Sophia mosque tweeted: “God will test believers with fear and hunger, with a decline in their lives and belongings, but God will award the patient ones at the end."Mr Erdogan unintentionally underscored his government’s failings: “The pandemic has revealed very clearly that the powerful states are not the ones that have a lot of money,” he said, “but the ones that offer the best service to their citizens in times of need.” All is divine and good, bless Turkey 😉 🇹🇷
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He will stay for 30 more years, he goes nowhere
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@Clk4040 I hope the best for Turkey and especially for the ordinary people that suffer the most from these incompetent leaders.
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@UnitedNationsSecretariat The big problem is huge debt driven economy bound to the dollar and Erdogans magic thinking about how the financial system works. Turkey has a sizeable private and public debt of some US$440 billion owed to foreign creditors and mostly denominated in US dollars.
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@hfur7758 In July 2021, the public debt of the United States was around 28.43 trillion U.S. dollars, around 1.9 trillion more than a year earlier, when it was around 26.52 trillion U.S. dollars.
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