4 ms·

Erdogan isn't thinking about what will help the economy. He's thinking about what will enrich his loyal flunkies and goons. A captured national media takes care

Erdogan isn't thinking about what will help the economy. He's thinking about what will enrich his loyal flunkies and goons. A captured national media takes care of the rest.

Whatboard 4y ago
This is the correct answer. Turkey's ruling elite are converting assets and Turkish lira into EUR, USD, gold, etc., and will be leaving the general population, those without access to foreign currency, holding an empty bag. Turkey recorded a capital and financial account deficit of 7357 USD Million in January of 2022, and I'm certain its much worse now.
- agumonkey 4y ago
  I've read that a few times, there are economic incentives to keep money weak to accumulate pricey assets.
- johnthewise 4y ago
  It has risen to over 12B recently[1] and they are covering it all with 'net error omissions' aka money of unknown origins[2]. 1: https://twitter.com/ali_hakan_kara/status/1575759533053313024 https://twitter.com/ali_hakan_kara/status/157575953305331302..., orange is import and blue is export. 2: https://twitter.com/ali_hakan_kara/status/1569227497467699200 https://twitter.com/ali_hakan_kara/status/156922749746769920...
yorwba 4y ago
Except there's an election coming up and polls suggest he's going to lose to the opposition: https://en.wikipedia.org/wiki/Opinion_polling_for_the_2023_Turkish_presidential_election https://en.wikipedia.org/wiki/Opinion_polling_for_the_2023_T... Unless he plans to ignore the election results and stay in power anyway, it's soon going to be over for him and his loyal flunkies and goons.
- zhoujianfu 4y ago
  I think he probably does plan to ignore the election results?
- johnthewise 4y ago
  Well, the game plan seems to be : 1- Increase fiscal spending 2- Increase wages 3- Give out very cheap credits from governemnt controlled banks at negative rates. and you will get increase in consumer spending(happy people) and employment which will cause increase trade deficit to explode[1] unless you have some money of unknown origins(the net errors omissions) to pay the bill[2]. If they have a stash of approx. $60 B parked somewhere, which seems they do, they may succeed in 'buying' the elections coming up. Need to take a closer look at the polls in the coming months to gauge voter sentiment, which has started turning in favor recently. This is a crystal clear example of why non-independent central banks and monetary policy is dangerous for democracies, you can basically try to buy the elections... 1:https://twitter.com/ali_hakan_kara/status/1575759533053313024 https://twitter.com/ali_hakan_kara/status/157575953305331302... 2:https://twitter.com/ali_hakan_kara/status/1569227497467699200 https://twitter.com/ali_hakan_kara/status/156922749746769920...

Erdogan isn't thinking about what will help the economy. He's thinking about what will enrich his loyal flunkies and goons. A captured national media takes care of the rest.

Whatboard 4y ago

This is the correct answer. Turkey's ruling elite are converting assets and Turkish lira into EUR, USD, gold, etc., and will be leaving the general population, those without access to foreign currency, holding an empty bag. Turkey recorded a capital and financial account deficit of 7357 USD Million in January of 2022, and I'm certain its much worse now.

agumonkey 4y ago
I've read that a few times, there are economic incentives to keep money weak to accumulate pricey assets.
johnthewise 4y ago
It has risen to over 12B recently[1] and they are covering it all with 'net error omissions' aka money of unknown origins[2]. 1: https://twitter.com/ali_hakan_kara/status/1575759533053313024 https://twitter.com/ali_hakan_kara/status/157575953305331302..., orange is import and blue is export. 2: https://twitter.com/ali_hakan_kara/status/1569227497467699200 https://twitter.com/ali_hakan_kara/status/156922749746769920...

yorwba 4y ago

Except there's an election coming up and polls suggest he's going to lose to the opposition: https://en.wikipedia.org/wiki/Opinion_polling_for_the_2023_Turkish_presidential_election https://en.wikipedia.org/wiki/Opinion_polling_for_the_2023_T... Unless he plans to ignore the election results and stay in power anyway, it's soon going to be over for him and his loyal flunkies and goons.

zhoujianfu 4y ago
I think he probably does plan to ignore the election results?
johnthewise 4y ago
Well, the game plan seems to be : 1- Increase fiscal spending 2- Increase wages 3- Give out very cheap credits from governemnt controlled banks at negative rates. and you will get increase in consumer spending(happy people) and employment which will cause increase trade deficit to explode[1] unless you have some money of unknown origins(the net errors omissions) to pay the bill[2]. If they have a stash of approx. $60 B parked somewhere, which seems they do, they may succeed in 'buying' the elections coming up. Need to take a closer look at the polls in the coming months to gauge voter sentiment, which has started turning in favor recently. This is a crystal clear example of why non-independent central banks and monetary policy is dangerous for democracies, you can basically try to buy the elections... 1:https://twitter.com/ali_hakan_kara/status/1575759533053313024 https://twitter.com/ali_hakan_kara/status/157575953305331302... 2:https://twitter.com/ali_hakan_kara/status/1569227497467699200 https://twitter.com/ali_hakan_kara/status/156922749746769920...