Food prices still increase here in Istanbul. Some weeks there will be discounted products.. some products do not increase since no one is buying them (pricey meat for example), but I keep an eye on my favorite slices of cake... A few years ago it was 4tl a slice... A few weeks ago it was 19tl, then 21tl.. this week it seems to 22tl.
@@ANDREWAMMON-k3v haha 😂. You joke, but that's literally how I feel each day after work and I look at how my once beloved velvet cake goes one TL at a time out of my stomachs reach. I mean, take my freedom, but leave me my darn cake ya. 😂
I was unaware of the QE they were doing in Türkiye. One wonders why you would try to increase the money supply with your left hand while decreasing it (with high interest rates) with your right.
Think about this -- if six month ago something cost 100 lira, and with 60% inflation for 5 months its prices reaches 1678 lira, then inflation "eases" to 30% to in month the price increases to 2180 lira. Given the much higher bases the easing of inflation doesn't really help.
Glass half full, with China and Russia financially out of the picture, borderline countries such as Turkey really only have the West as a viable option to provide assistance if they ever hope to achieve a stable economy. Russia is a failed state at this point, and China will have to focus on its domestic issues for at least three years and possibly much longer. I suspect the days of China trying to economically dominate the world are over. The pandemic, the war in Ukraine and the looming AI revolution have clearly shown China that it must play ball with the West or risk a fate like Russia.
I suppose this is why they take an interest in brics. I think Erdogan finds it attractive to be part of some kind of currency where you don’t have to commit. No member will replace their local currency with this bric a brac thing. It doesn’t solve anything, it doesn’t create value and no country that deals in $ and € will be interested. I think the main purpose is to hide real payment. Some purchase is made and claimed to be in BRICS currency while in fact in wasn’t. This makes accounting difficult and if there’s an increased interest, you can sell it and make a neat profit.
AFAIK there is no current plan for a BRIC common currency. They're settling for agreements between small groups of BRIC members re how they'll manage payments. Not surprising. It took half a century to get agreement on the Euro.
Excellent analysis. Always recall what President Harry Truman remarked after being advised on this hand but on the other hand……find me a one handed economist.
I think when your country hits over 10% inflation without a really good reason for it it's pretty much over. Spiking interest rates to keep it under control before it reaches 10% is possible but that also causes downsides including a slowdown in the economy if its done too brutally or too long. So if you keep interest rates high for too long you also cause irreparable damage to the economy overall, which doesn't help your tax revenue, balancing of budget, so you want to print money to fill the gap and its a vicious cycle.
A nice segment, giving a detailed understanding of how Turkey is doing these days under Erdogan's management, 'tho it has to be wondered why astronomical inflation rates remain so stubbornly high despite equally astronomical interest rates. BTW, one wonders how Hungary's economy is faring these days under Victor Orban's "inspired" leadership? :) p.s. Loved the baby goals. Thank you.
Turkey had numerous volatile internal n external counter measures since decades ago 🙂, at times carelessness are few remaining hindrances which is politically, economical or defence . --- Just for Joe --- .😀.
Is there some easy way to express the cumulative effect of these huge inflation numbers other then "huge" . If food increases in cost by 20, 94, 65, and 40% on successive years what is the effect on the cost of a loaf of bread in Lira at the start and end?
Joe, your videos always give us the whole story that other media tends to gloss over or ignore. I don't always agree with every conclusion you make. However, because I watch your videos, I always end up with a better understanding of the issue.
Deflation means people arent spending, so prices fall. In some greedy countries, not mentioning any names, latinos, cough, arabs too, cough, they hold on for as long as they can to high prices. The hand of the bull i call it.
Every country is in trouble it's only the UK and USA are immune to inflation.😂😂😂 Pls speak about the children dying in the Russia ukraine war.Pls take urgent steps to stop the war.The European should stop sponsoring this war.We need to stop all wars the children are suffering because of political greed.Pls stop this war. Pls spend funds for securing small children and help them come out of the horror and pain. Pls pls pls
I remember back in the 1990s, Turkey's then currency, exchanged at close to 1 million to a dollar ! I think this was before Zimbabwe's version hyperinflation.
The question is, given how Erdogan messed up the economy with his misunderstanding on how economics works, does Turkey have a choice right now that’s better than what they’re doing? It’s extremely difficult to get inflation down while boosting the economy at the same time. The problem is that each of those requirements has a solution that’s the exact opposite of the requirements of the other problem.
Joe, I've learned a lot Watching your videos. Really appreciate your work. One topic I've not seen covered is the US economy. Seems like the US economy breaks a lot of the rules u discuss. Can u do one of your deep dives? Thanks.
My taxi was stopped by cops in Istanbul. The cops asked me how much for the taxi ride. I said $20. They told us to leave the taxi. They nailed the driver for tax evasion.
@@jasonalmendra3823 Maybe the cops arent being paid, doesnt surprise me. There is no free media to criticize in these countries either. Brazilians cops used to go on strike, believe it or not..lol
I wish it was only the inflation rate, they keep the TRY value up by selling central bank reserves, the USD to TRY value has sat around 30-34 lira per dollar since the beginning of this year, and now even the foreign currencies have lost a lot of their purchasing power which led to a lot of bankruptcies of the companies that produce products and export them, and thus increased the unemployment rate, also decreased the tourism inflow due to expensive prices. Or if you're a remote worker making money in a foreign currency, your purchasing power dropped and your living expanses have increased significantly. just two years ago, 1 usd was worth more than 2 dollars is worth right now in terms of purchasing power on everyday items like groceries. The major cause of this inflation is also not the stimulant money they are injecting in the economy, which is by the not given to the citizens but rather god knows to who. And the real reason for the inflation is still this high while the currency remains stable is the additional taxes they introduced to everyday citizens. They made everybody's life harder. If they had not touched anything in terms of monetary policies, we'd be having a much easier time right now. Can anybody tell me what "luxury tax" means, especially it's taken from almost everything such as smartphones. Also they taken double taxes, a second time for your vehicles. When you buy a car from Turkey, you essentially buy one more two more cars to the government. It's that bad.
Because all that is manipulated within their country (like their media) ie they buy their own currency to keep their rate stronger, purchasing power stronger. When they can no longer do that then their currency will fall further and imported goods will rise and so will inflation, until less things are being sold off the shelves. I think South Africa is in that now with its almost worthless currency controlled by the Marxist ANC. Whoop whoop Mandela the Communist.
The rates you mention are official. Official rates are notoriously deceiving, as everyone knows; as you should know too. The inflation is around 75 % now and we do not have any idea about the truth in Turkey not only about numbers but about everything else.
So is to much goods being consumed by society rapidly the cause of inflation? Maybe it becomes harder to get the same goods the more they become less readily available.
Easing inflation would be helped by not pumping money into the economy through the government and earning money from abroad and goods from abroad by working?
I am not sure that I agree completely with your conclusion about borrowing money by businesses. Inflation and interest are about the same. If you have inflation you pay more for the same products as time goes by. So businesses get more money for the same product. If interest and inflation are the same you borrow money for 0%.
Thanks Joe. So things have gotten worse for the people of Turkey since they overwhelmingly elected Erdogan. You have to wonder what the people there value in a leader when day to day living is so difficult for them. For an outsider it appears Erdogan is playing so many games with the US, Russia, Greece, Iraq and Syria that the country does not have a clear, consistent foreign policy direction which seems to be repeated in their economic policies - too little, too late changes. Too bad the people need to live under such confusion but ....they seem to be happy with their political choice. Life goes on in Turkey.
This guy is like a fisherman who catches a fish reels it doesn't unhook it and throw it into the water and re-reels again and again. He has been saying Turkey is in deep trouble, facing a catastrophe, about to collapse since 2022 when he started. How many times can the collapse start? Not that I am saying there are no economic troubles in Turkey. But he has been on his Groundhog act for the last two years when it comes to Cuna, Russia, Venezuela etc. Now and then he will sprinkle German, UK for control.
Turkey in trouble? How about the nation whichi s in so much trouble that it ishaving to invent its own little club with its own currency in order to cover its own trading blunders?
@ulfosterberg9116 because Europe will be on the menu. They will do what they used to do before the Turkish ottoman Turkish caliphate fell and look for a large non Muslim tax base to exploit. It works well for a period of time until the forced conversions and jizzhia taxes etc results in their non Muslim tax base disappearing.
Its only Oil money (invested by the USA (Petrodollar) and the west) that has propped up the islamic oil countries. The conundrum was that it was either us or Russia, Russia are there too but the western lefty media never mention them for obvious reasons. islam and Communism are very similar with similar goals. China, being Communists are now trying to get involved via BRICS.
Thanks for this, the turks have consistently, barded the middle east and Europe! (Have we of NATO and US &.EU supported Turkish interest enough?) I'm 10 the Gen. American, but raised in EU and USA, history background! Salute Turykie! 😮
your very wrong. You definitely do want to take a loan out in Turkey. If you dont understand how governments inflate away debt, you really should look into that. inflation essentially makes debt easy to pay off and its one of the easiest ways of making money. Unfortunately, people are fucked in the process as the value of their savings and their time goes down but this does also create cheap labor and forces people to work. Thats how you draw big investors into a country. You really dont understand the game Turkey is playing on a large scale.
I'd like to see all of these whiners in America exposed to Turkish inflation for a year or two. I mean, core inflation was high in '21 (7%), but it was roughly the same in Western Europe. We were in the middle of the heap here in the USA. Reported rates now are 3.0% for the current year. Yet the voters can't forgive Biden, right?
Economics in crisis, polital storm, islam, earthquake, rebellion/terrorist, russia, riding with two horse in politics, president got weird visions. Mix you combibation and enjoy the show.
Whats new. Things will never change, there are people who create chaos and those that try to resolve it, welcome to the world of the Left (chaos) vs the Right (resolvers). Islam is leftwing in nature so dont expect any calm there.
Joe, there is a theme with your videos. All the countries that are in trouble are BRICS members. Strange you never covered the BRICS gathering. The single most important financial event of the century!
@@barrybrodin7085 any more informative and intelligent statements from you? What was incorrect in my text? 😁😁😁 Please, show us your level of education 🤓🤓🤓🤓
This is why I keep coming back. Keep up the great work, Joe 👍
When he said “I will be with you until the grave” he meant Turkey’s grave, not his own.
Food prices still increase here in Istanbul. Some weeks there will be discounted products.. some products do not increase since no one is buying them (pricey meat for example), but I keep an eye on my favorite slices of cake... A few years ago it was 4tl a slice... A few weeks ago it was 19tl, then 21tl.. this week it seems to 22tl.
I don't anger like I used to but if you mess with my cake, Well, Thems fightin words.
@@ANDREWAMMON-k3v haha 😂. You joke, but that's literally how I feel each day after work and I look at how my once beloved velvet cake goes one TL at a time out of my stomachs reach. I mean, take my freedom, but leave me my darn cake ya. 😂
The moral of the story is religion and finance don't mix
Its Socialism, if you like Fascism, Fascism is leftwing.
Some do better and some don't at all
@@uweinhamburg no one should base a rule off an exception.
@@galemartin9155 Isn't that what you've just done?
@@uweinhamburg No. Lie to me if you must but you should avoid lying to yourself. It seems to be a habit for you.
Mismanaged his economy. Too arrogant and incompetent to admit his failures 🇺🇸
Factually not true.
@@shafsteryellow So why is Turkey in such deep shit?
@@shafsteryellow Lower interest rates when you have an inflation problem? Factually very true.
Interesting, thank you.
LOL
I was unaware of the QE they were doing in Türkiye. One wonders why you would try to increase the money supply with your left hand while decreasing it (with high interest rates) with your right.
Thanks, Joe.
I know! Turkey is in deep trouble cuz Thanksgiving is coming 🦃
🤣🤣🤣🤣🤣
Turks better run
When will people realize that dictatorships, whether in Turkey, Russia, China, or possibly in the U S, do not work out well?
This is literally why they changed their name to Turkiye.
No idea if that makes the people Turkish or Turkiyish
Türkiyesh 🤣🤣🤣🤣🤣
Think about this -- if six month ago something cost 100 lira, and with 60% inflation for 5 months its prices reaches 1678 lira, then inflation "eases" to 30% to in month the price increases to 2180 lira. Given the much higher bases the easing of inflation doesn't really help.
Thanks
La Turquie joue 1 double jeu.
Entre la Russie et l UE
Yep…if you don’t know who your friends are it’s hard to establish long lasting and trusting relationships
thanks for the update!
Very important summary! Thanks a Lot!!
Glass half full, with China and Russia financially out of the picture, borderline countries such as Turkey really only have the West as a viable option to provide assistance if they ever hope to achieve a stable economy. Russia is a failed state at this point, and China will have to focus on its domestic issues for at least three years and possibly much longer. I suspect the days of China trying to economically dominate the world are over. The pandemic, the war in Ukraine and the looming AI revolution have clearly shown China that it must play ball with the West or risk a fate like Russia.
This is why BRICS is even a thing. They plan to work together to save each other but it won't do anything 😂
When u consider the HUGE income fom tourism and clothing manufacturing, which exports to europe, turkey should not be in financial trouble.
That business is peanuts, and the problem is that nobody is paying taxes, and that turkey is totally corrupted.
It’s an energy importer that’s the issue
@@shafsteryellow
Still.
It should not be this bad.
People go to Greece instead of Turkey. For Tourist (except for Russians) Turkey also got expensive.
I suppose this is why they take an interest in brics. I think Erdogan finds it attractive to be part of some kind of currency where you don’t have to commit. No member will replace their local currency with this bric a brac thing. It doesn’t solve anything, it doesn’t create value and no country that deals in $ and € will be interested. I think the main purpose is to hide real payment. Some purchase is made and claimed to be in BRICS currency while in fact in wasn’t. This makes accounting difficult and if there’s an increased interest, you can sell it and make a neat profit.
AFAIK there is no current plan for a BRIC common currency. They're settling for agreements between small groups of BRIC members re how they'll manage payments. Not surprising. It took half a century to get agreement on the Euro.
Hey Joe, can you show a list of all the countries that are in deep kimchi? And then the much shorter list of countries that are in good shape?
Yo Joe, Absolutely fascinating, I had NO idea it's still this bad. Could you please do the Saudi's soon?!? Thanks for the Post.
Thank you for making these videos and keeping all of us informed of a larger world view of financial markets
Excellent analysis. Always recall what President Harry Truman remarked after being advised on this hand but on the other hand……find me a one handed economist.
Thank you!
Note. Argentina is even worse. And it is so much more of a failure of a nation that should be an example of prosperity.
How is turkey still alive..
Money frum Gulf Emirates
Money from gulf states
Best content around. very precise, informative and intelligible. :) keep it up Joe!!
Tysm ❤
Would love to hear about the stuffing and gravy.
I think when your country hits over 10% inflation without a really good reason for it it's pretty much over.
Spiking interest rates to keep it under control before it reaches 10% is possible but that also causes downsides including a slowdown in the economy if its done too brutally or too long. So if you keep interest rates high for too long you also cause irreparable damage to the economy overall, which doesn't help your tax revenue, balancing of budget, so you want to print money to fill the gap and its a vicious cycle.
How can you say "the inflation in Turkey is still currently around 50%" when inflation is calculated over a period of time?
Can you do analysis on gold and silver?
A nice segment, giving a detailed understanding of how Turkey is doing these days under Erdogan's management, 'tho it has to be wondered why astronomical inflation rates remain so stubbornly high despite equally astronomical interest rates. BTW, one wonders how Hungary's
economy is faring these days under Victor Orban's "inspired" leadership? :) p.s. Loved the baby goals. Thank you.
Thanksgiving is just around the corner.
Gimme some dat sweet potato, mang? Tony Montana.
Must be a Thursday i never could get the hang of Thursdays
Economic mismanagement 🤦♂️
Nope
How can someone capitalize on Turkey's economic problems? Is housing cheaper if you're buying in U.S. dollars or Euros?
I wonder if the high interest rate is to force companies to borrow from foreign sources, thereby “bringing money into the country”
No its to control inflation and attract savers.
Turkey had numerous volatile internal n external counter measures since decades ago 🙂, at times carelessness are few remaining hindrances which is politically, economical or defence .
--- Just for Joe ---
.😀.
Is there some easy way to express the cumulative effect of these huge inflation numbers other then "huge" . If food increases in cost by 20, 94, 65, and 40% on successive years what is the effect on the cost of a loaf of bread in Lira at the start and end?
Gee wiz, id know that statue anywhere. Its the world famous, 'woman making pasta' statue
"reelection" 🙄
Joe, your videos always give us the whole story that other media tends to gloss over or ignore. I don't always agree with every conclusion you make. However, because I watch your videos, I always end up with a better understanding of the issue.
Deflation means people arent spending, so prices fall. In some greedy countries, not mentioning any names, latinos, cough, arabs too, cough, they hold on for as long as they can to high prices. The hand of the bull i call it.
Every country is in trouble it's only the UK and USA are immune to inflation.😂😂😂
Pls speak about the children dying in the Russia ukraine war.Pls take urgent steps to stop the war.The European should stop sponsoring this war.We need to stop all wars
the children are suffering because of political greed.Pls stop this war.
Pls spend funds for securing small children and help them come out of the horror and pain.
Pls pls pls
I remember back in the 1990s, Turkey's then currency, exchanged at close to 1 million to a dollar ! I think this was before Zimbabwe's version hyperinflation.
The question is, given how Erdogan messed up the economy with his misunderstanding on how economics works, does Turkey have a choice right now that’s better than what they’re doing? It’s extremely difficult to get inflation down while boosting the economy at the same time. The problem is that each of those requirements has a solution that’s the exact opposite of the requirements of the other problem.
Venezuela Too
Joe, I've learned a lot Watching your videos. Really appreciate your work. One topic I've not seen covered is the US economy. Seems like the US economy breaks a lot of the rules u discuss. Can u do one of your deep dives? Thanks.
My taxi was stopped by cops in Istanbul. The cops asked me how much for the taxi ride. I said $20. They told us to leave the taxi. They nailed the driver for tax evasion.
Taxi was free for us.
Whats your point? you went to Turkey, well done.
They're hard up for cash.
@@jasonalmendra3823 Maybe the cops arent being paid, doesnt surprise me. There is no free media to criticize in these countries either. Brazilians cops used to go on strike, believe it or not..lol
No, obviously you misunderstood. Cops are after taxi drivers who are ripping off tourists. So the taxi driver has overcharged you.
Sounds about right. Putin's in deep Kimchi as well.
He better wake up and smell the kimchi
Why i can't like your videos anymore? Two days at least if clicking like it does not register
Would that be a new statue in your collection, or have I not been paying attention?
Hey Joe, could you look at whether the high inflation is eroding the Russian Wealth fund?
Can anyone explain why Erdogan doesn't have long flowing hair??? It's literraly what the country does.
I wish it was only the inflation rate, they keep the TRY value up by selling central bank reserves, the USD to TRY value has sat around 30-34 lira per dollar since the beginning of this year, and now even the foreign currencies have lost a lot of their purchasing power which led to a lot of bankruptcies of the companies that produce products and export them, and thus increased the unemployment rate, also decreased the tourism inflow due to expensive prices. Or if you're a remote worker making money in a foreign currency, your purchasing power dropped and your living expanses have increased significantly. just two years ago, 1 usd was worth more than 2 dollars is worth right now in terms of purchasing power on everyday items like groceries. The major cause of this inflation is also not the stimulant money they are injecting in the economy, which is by the not given to the citizens but rather god knows to who. And the real reason for the inflation is still this high while the currency remains stable is the additional taxes they introduced to everyday citizens. They made everybody's life harder. If they had not touched anything in terms of monetary policies, we'd be having a much easier time right now. Can anybody tell me what "luxury tax" means, especially it's taken from almost everything such as smartphones. Also they taken double taxes, a second time for your vehicles. When you buy a car from Turkey, you essentially buy one more two more cars to the government. It's that bad.
If the inflation is so bad why has the USD exchange only changed by 21.7%, not nearly as detrimental as the inflation rate.
Because all that is manipulated within their country (like their media) ie they buy their own currency to keep their rate stronger, purchasing power stronger. When they can no longer do that then their currency will fall further and imported goods will rise and so will inflation, until less things are being sold off the shelves. I think South Africa is in that now with its almost worthless currency controlled by the Marxist ANC. Whoop whoop Mandela the Communist.
Thanks Joe, always top quality content.
The rates you mention are official. Official rates are notoriously deceiving, as everyone knows; as you should know too. The inflation is around 75 % now and we do not have any idea about the truth in Turkey not only about numbers but about everything else.
So is to much goods being consumed by society rapidly the cause of inflation? Maybe it becomes harder to get the same goods the more they become less readily available.
Aside from price gouging 😐
Easing inflation would be helped by not pumping money into the economy through the government and earning money from abroad and goods from abroad by working?
I am not sure that I agree completely with your conclusion about borrowing money by businesses. Inflation and interest are about the same. If you have inflation you pay more for the same products as time goes by. So businesses get more money for the same product. If interest and inflation are the same you borrow money for 0%.
Wild Türkiey
But they are joining BRICS?! The next great thing!
All islamic countries will join BRICS i would imagine, islam and Communism are very similar. Talking and doing though are two different things.
Thanks Joe. So things have gotten worse for the people of Turkey since they overwhelmingly elected Erdogan. You have to wonder what the people there value in a leader when day to day living is so difficult for them. For an outsider it appears Erdogan is playing so many games with the US, Russia, Greece, Iraq and Syria that the country does not have a clear, consistent foreign policy direction which seems to be repeated in their economic policies - too little, too late changes. Too bad the people need to live under such confusion but ....they seem to be happy with their political choice. Life goes on in Turkey.
Maybe I will go for that Turkish hair transplant. This could be good for their medical tourism
Be careful of MERSA infections
@@jasonalmendra3823 Yea I'm not a great risk taker but 10-15000 CAD vs $2500 is tempting 😅
What is the reason for the decrease in inflation over the past 3-4 months?
Is it Thanksgiving already?
Here is a classic example of stagflation.
This guy is like a fisherman who catches a fish reels it doesn't unhook it and throw it into the water and re-reels again and again.
He has been saying Turkey is in deep trouble, facing a catastrophe, about to collapse since 2022 when he started. How many times can the collapse start? Not that I am saying there are no economic troubles in Turkey. But he has been on his Groundhog act for the last two years when it comes to Cuna, Russia, Venezuela etc. Now and then he will sprinkle German, UK for control.
Is it of any interest? Really? The contents is clear.
Interest rates at 50% means that the banking system is shut down. Not sure how you soft land that. Deflation is a worse outcome.
Why don't Scotmen wear zippers?
Goats can hear them a mile away.
A Scottish man like me wouldn't go near a goat unlike people like you I've heard rather love them.
Turkey in trouble? How about the nation whichi s in so much trouble that it ishaving to invent its own little club with its own currency in order to cover its own trading blunders?
Turkey 🇹🇷 😮😮what have you done…😮😮 this is a beautiful Muslim country…
It's not november 28th yet though?
These troubles in Turkey will spell trouble for Europe in the coming years.
Hardly. Problems in Nicaragua is not affecting the US. Why should problems in turkey or Syria affect Europe?
@ulfosterberg9116 because Europe will be on the menu. They will do what they used to do before the Turkish ottoman Turkish caliphate fell and look for a large non Muslim tax base to exploit. It works well for a period of time until the forced conversions and jizzhia taxes etc results in their non Muslim tax base disappearing.
What with the secundar circuit of money? Islam banks or other?
BRICS! Give us BRIKS!
People who live in glass houses should not throw BRICS.
Did you hear what he did there? 50% interest rates are ... Wait for it ... interesting...
Can you talk about the economy of countries bombed by west and israel??
Is a weak Turkey good for the west? If so great Erdogan is not pro west
We’re all doomed, doomed I tell you 😃
STAGFLATION?
All of the countries at the top of the list except for Venezuela or under the control of Islam.
Its only Oil money (invested by the USA (Petrodollar) and the west) that has propped up the islamic oil countries. The conundrum was that it was either us or Russia, Russia are there too but the western lefty media never mention them for obvious reasons. islam and Communism are very similar with similar goals. China, being Communists are now trying to get involved via BRICS.
Mafia rates
Instead we hear about Kim and his military prowess, with absolutely no transparency as to the real calamity inside his borders.
Wow!!! Well said.
Pound, Ruble and turkish lira are on the road to vanish after 2025.
Goats do roam
FREE KURDISTAN
Thanks for this, the turks have consistently, barded the middle east and Europe! (Have we of NATO and US &.EU supported Turkish interest enough?) I'm 10 the Gen. American, but raised in EU and USA, history background! Salute Turykie! 😮
Joe never has good news.
Now only 5 minutes needs to be cut out of these videos.
your very wrong. You definitely do want to take a loan out in Turkey. If you dont understand how governments inflate away debt, you really should look into that. inflation essentially makes debt easy to pay off and its one of the easiest ways of making money. Unfortunately, people are fucked in the process as the value of their savings and their time goes down but this does also create cheap labor and forces people to work. Thats how you draw big investors into a country. You really dont understand the game Turkey is playing on a large scale.
I'd like to see all of these whiners in America exposed to Turkish inflation for a year or two. I mean, core inflation was high in '21 (7%), but it was roughly the same in Western Europe. We were in the middle of the heap here in the USA. Reported rates now are 3.0% for the current year. Yet the voters can't forgive Biden, right?
As an argentinian all I can say is:
Ha ha ha, amateurs. Your weakness disgusts me...
Economics in crisis, polital storm, islam, earthquake, rebellion/terrorist, russia, riding with two horse in politics, president got weird visions. Mix you combibation and enjoy the show.
Whats new. Things will never change, there are people who create chaos and those that try to resolve it, welcome to the world of the Left (chaos) vs the Right (resolvers). Islam is leftwing in nature so dont expect any calm there.
3 minutes 10 seconds before you even started any meaningful discussion
Joe, you are brutal.
Free Kurdistan ...now
Joe, there is a theme with your videos. All the countries that are in trouble are BRICS members. Strange you never covered the BRICS gathering. The single most important financial event of the century!
Maybe he will give him a chance. Turkey arent in BRICS ... yet. BRICS are Communists with the exception of India, which is duplicitous.
Welcome to BRICS. It will rule the world in 21st century 🙂
😂😂😂😂
🤣
Brics , the club of failed states lmao
@@barrybrodin7085 any more informative and intelligent statements from you? What was incorrect in my text? 😁😁😁
Please, show us your level of education 🤓🤓🤓🤓
@@genepozniak how did you escape from your room? 🧑🍳🧑🍳
Get your pills now 😅
Brooo stop your nonsense
High inflation rate is caused by the state printing money! The main question is, what is turkey buying that it risks this high inflation rates!?