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Crash of the Turkish Economy

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  • Originally posted by CaymanWolvon View Post
    armenia with 3 million manpower can't provide the needing manpower for production, Azerbaijan either.
    There must be over 50 million YOUNG population and countries like China and India are greatest opportunuties for it as I-Phone mobile phones are made in China.
    I said minimum wage is rising, I didn't say it's gaining value. Dollar has risen proportional to rise of Turkish Minimum Wage because it effects global trade, causes more Turkish lira to be spent at abroad and making the situation same. For lira to gain value as currency without effecting value of Dollar against Turkish Lira, there must be domestical production for all USA brand critical parts like semi-conductor industry, vehicles engines(diesel,electric,gasoline,turboshaft,turbof an,turbojet),construction(roof parts etc.).
    Turkiye is mostly dependent to USA about construction and semi-conductor industry mainly computer parts like processor, graphic cards etc.
    Turkish company Ermaksan has developed a laser cutting machine, which high quality chips can be produced. It made Turkiye one of the a few country that can design and produce this technology.
    Aselsan, Bilkent and Tübitak are working on Turkish made semi-conductors to be mainly used for national defense and Turkish government has officially started construction of new Chip factories in Istanbul and Ankara.
    Lately one existed:
    Çakıl microprocessor
    10 GB/s data processing speed and a core(under development for multiple cores)
    https://www.webtekno.com/yerli-mikro...il-h60028.html



    Turkiye doesn't apply Islamic rules based on bullshits of wahhabis which are UAE and Saudis' themselves, wahhabi Islam is cruel which meant to be out of Islamic ways.
    Repeatedly there is at least one fact you just can't see and yet it seeeems so plain,, > export sales,,,they aren't happening , all these advanced state of the art thingamies no one is paying Hard currencies for them...
    Do you like childrens riddles ?
    Simple Simon met a pieman going to the fair,said Simon to the pieman,,,let me taste your wares...Said the pieman to simon > show me first your penny... Your ability to pay is becoming non existant…
    I suggest you begin looking for raw materials,like boron for instance,to export,or water, Ohh yes you have a problem with that...

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    • Originally posted by Elishar View Post

      Repeatedly there is at least one fact you just can't see and yet it seeeems so plain,, > export sales,,,they aren't happening , all these advanced state of the art thingamies no one is paying Hard currencies for them...
      Do you like childrens riddles ?
      Simple Simon met a pieman going to the fair,said Simon to the pieman,,,let me taste your wares...Said the pieman to simon > show me first your penny... Your ability to pay is becoming non existant…
      I suggest you begin looking for raw materials,like boron for instance,to export,or water, Ohh yes you have a problem with that...
      Lately, a very senior journalist in my country also share similiar views, no matter how fast the ballerina spins on pivot, in the end it's the cleavage that count, the one who hold natural resources may survive.

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      • Originally posted by Elishar View Post
        Minimum wage..This is probably what attracted EU countries to set up manufacturing plants in turkey,,Turkey was a place of cheap labour…
        When the Turkey govt keeps forcing foreign and domestic companies to Raise that minimum wage they begin to question,,why are we manufacturing in Turkey ?our profit margins are sinking day by day, we could make more money by producing in Armenia or Azerbaijan.so the factories will be moved OUT of Turkey taking the jobs with them..
        I suspect that one of the principle reasons for the Turkey collapse lies in Interest,,if turkey banks and companies borrow according to the infidel money rules they must also return those loans according to the same infidel rules,,but if at home loans are being passed to Turkeys according to koranic rules then who or what is going to pay the shortfall in interest between the external cost of the loan and the local income generated by that loan ?
        I doubt that manufacturing has recovered in Turkey. The main road through Bulgaria was hugely devoid of Turkish trucks yet again when I was travelling to and from the Black Sea during the last week. I could be wrong - Turkey might have increased their exports to Iran by 300% over the past year to recover the gap

        Increased wages fuelled by ever-increasing foreign debt by a government buying support rather than driven by increased productivity is a recipe for disaster. Another factor sending Turkey over the cliff now.

        Originally posted by Elishar View Post
        The govt has to pay the true rate of the infidel loan but has not itself loaned the money to Turkeys at a sustainable rate...
        Now Turkeys turkeys have come home to roost,koran versus reality...
        Even if you want to play the "Islamic finance" game, it comes down to "profits verses risk". I wonder what the "Islamic finance" return is for Turkish debt at the moment? My bet would be something equivalent to an interest rate of 25-30% on lira debt...

        Speaking of Islamic financiers - Qatar has just pulled out billions out of the sinking Turkish economy. Seems the Saudis are more worried directly about Iran than invading Qatar at the moment....

        Originally posted by Elishar View Post
        Add to this the maniacal delusions of grandeur of Erdogan " the palace"...I think you will find that all the great palaces of Europe were built from money in hand , not borrowed..
        Erdogan's sultan palace "the White House" in Ankara was built on credit and continues an Ottoman tradition of building palaces on borrowed money - part of cause of the economic problems the Ottomans had in the 19th century.

        Originally posted by Elishar View Post
        The airport showcase of Europe perfectly suited to the expression luftsgescheften,,,pie in the sky...Did Erdogan think that Dubai would just fold its tents and go back to the desert ? Dubai is an airport designed and built by experts from all over the world and I just don't see Turkey airport taking business from them...
        I don't see Istanbul Airport taking business from anyone. The figures for May 2019 of just over 5 million passengers are roughly the same figures for Ataturk Airport this time last year. Now if, as they were claiming, there was such huge demand for the new Istanbul Airport, then you would have seen a massive jump in passenger numbers. Airlines would have been crawling over themselves to get extra landing slots at that airport and would have been prepared to run 1/2-full loss-making flights to secure them.

        I'm wondering what will happen to this airport when Turkish Airlines finally goes broke. I guess there will be a quite a few 10 Euro flights from budget airlines going from Sofia to Istanbul when the landing fees meet the criteria of Ryan Air and so on

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        • Meanwhile, Moodys rating agency has just announced a further downgrade to Turkey's credit rating - sending Turkey into even deeper junk territory:

          Paris, June 14, 2019 -- Moody's Investors Service ("Moody's") has today downgraded the Government of Turkey's long-term issuer ratings to B1 from Ba3 and has maintained the negative outlook. The senior unsecured bond ratings and senior unsecured shelf ratings have also been downgraded to B1 and (P)B1 respectively from Ba3/(P)Ba3.

          https://www.moodys.com/research/Mood...ook--PR_402552

          At the moment, Greece is rated better than Turkey - same rating and stable whereas Turkey has a negative outlook.

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          • Turkey is threatening financial journalists with jail for simply doing their job:

            New York, June 14, 2019 - The Committee to Protect Journalists condemned the decision by Turkey's judiciary to charge two Bloomberg reporters over their coverage of the Turkish economy.
            A criminal court in Istanbul accepted an indictment charging the reportersKerim Karakaya and Fercan Yalınkılıç with undermining Turkey's economic stability, and requesting that they be imprisoned, according to their employer and media reports. If convicted, the journalists could be jailed for up to five years.
            The indictment comes after the Turkish banking regulator BDDK filed a criminal complaint, according to reports. The charges stem from an August 10, 2018 article that Karakaya and Yalınkılıç wrote about how Turkish authorities and banks were responding to the currency shock.
            "The notion that Bloomberg's meticulous financial reporting could somehow be a threat to Turkey's economic stability and a violation of its laws is hard to fathom," said CPJ Executive Director Joel Simon. "Today's indictment represents a further escalation of Turkey's press freedom crackdown and is of deep concern."
            https://cpj.org/2019/06/turkey-charg...underminin.php

            Thing is, it's not just a matter of journalists being thrown into prison because they are saying things that an Islamofascist dictator doesn't want to hear - it's that by such threats that the world is not hearing about the real state of the Turkish economy and not getting the full picture. Journalists are being blackmailed into publishing a nicer picture than what really exists.

            Therefore, it is very highly likely that things are far worse in Turkey than we can imagine - even worse than the very bad picture of the Turkish economy that already exists. I wonder what else is being covered up about the Turkish economy?


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            • Originally posted by aussieinbg View Post
              Turkey is threatening financial journalists with jail for simply doing their job:



              https://cpj.org/2019/06/turkey-charg...underminin.php

              Thing is, it's not just a matter of journalists being thrown into prison because they are saying things that an Islamofascist dictator doesn't want to hear - it's that by such threats that the world is not hearing about the real state of the Turkish economy and not getting the full picture. Journalists are being blackmailed into publishing a nicer picture than what really exists.

              Therefore, it is very highly likely that things are far worse in Turkey than we can imagine - even worse than the very bad picture of the Turkish economy that already exists. I wonder what else is being covered up about the Turkish economy?

              Typical islamic behavior. Blaming everyone around for their own mistakes.
              Islam is the cult of intimidation and deception, no surprise their societies and political class is strongly influenced by this way of thinking.

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              • Originally posted by Hades91x View Post
                Typical islamic behavior. Blaming everyone around for their own mistakes.
                Islam is the cult of intimidation and deception, no surprise their societies and political class is strongly influenced by this way of thinking.

                On the face of it, Erdogan has been "accepting" of the election result in Istanbul. He's setting up things precisely to play this game - blaming everyone else but himself for his mistakes.

                Now, Erdogan has a scapegoat for the full crash of the Turkish economy that is coming very shortly - a mayor of Istanbul who is not of his Islamofascist political grouping. It would have been better to have had that mayor in place in March - but I suspect that Erdogan's cronies wanted a few weeks to do an Armenian-genocide-coverup-like cleanup of the Istanbul city financial archives to hide what has been going on.

                And the crash is very very close. Even the New York Times is now writing very generic articles about Turkey's impending economic collapse:

                https://www.nytimes.com/2019/06/24/b...ss&partner=rss

                I've been trying to find numbers about the Turkish Central Bank's reserves for June 2019 - but these seem to be nonexistent. Apart from a story about how the Turkish government had looted 40 billion Lira from the bank's reserves in May - nothing. My bet is that the Turkish Central Bank has little or no money left.

                The fireworks show is just about ready to start...


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                • Erdogan likes to cause scandals, anyone remember when he made an embarrassment of himself at funeral of Muhammad Ali, that's how his behavior will crash his economy.

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