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Have they considered cutting public spending instead of printing money into a hyper-inflation spiral?
by xyzzy4747 3y ago
Have they considered cutting public spending instead of printing money into a hyper-inflation spiral?
- simplicio 3y agoIsn't increasing interest rates the opposite of printing money?
- xyzzy4747 3y agoSeems more like a response to printing money to try to contain the issue.
- aranelsurion 3y agoCutting public spending will be difficult now since Turkey has already made a large part of their citizenry essentially dependent on government money either directly or indirectly, and cutting on that further would essentially doom large groups of people further under poverty line and into starvation. Not to mention a recent earthquake caused massive damage in the eastern regions, and it will probably take years to rebuild and recover completely. This is not to say that Turkey doesn't have frivolous public spending, it's more like the hole they've dug is so deep, that probably hardly matters at this point.