Turkey in Deep Trouble as Crisis Accelerates, Inflation Soars, Lira Crashes & Interest Rates Hit 50% - Joe Blogs

[TexasTowelie]

Following his election win in May 2023 President Erdogan appointed a new Head of the Turkish Central Bank who decided to change the Economic Policy. Over the past 9 months Interest Rates have been increased to 50% however rather than reducing inflation it has actually caused inflation to rise to a 16 month high of 69.8% and also caused the Lira to CRASH. In this video I provide more details on the current situation, discuss WHY the new policy has not worked and look at the outlook for the Turkish Economy.

Chapters:
0:00 Intro
2:59 INTEREST RATES
6:57 INFLATION
8:58 FOOD INFLATION
11:46 BALANCE OF TRADE
13:42 COAL
17:37 INVESTMENT DEALS
19:39 SMUGGLER
21:58 SUMMARY & CONCLUSION

[sinkingfeeling]

1. I just returned from Turkey on May 17. The only thing noticeable about their inflation was the difference

in listed menu prices and the actual charges. The rate of exchange improved while I was there going from 1USD equaling 33.21 Lira to 1USD bringing only 32.24 Lira. That was over a 16 day span.
Turkey is a very interesting country in terms of history and geology. I was kind of surprised by the websites the government had blocked, like Flickr and Postimage.