How Has Turkey Been Going?
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22 күн бұрынGet 20% off DeleteMe US consumer plans when you go to joindeleteme.com/EE20 and use promo code EE20 at checkout
Turkey's economy faces severe inflation and a 96% devaluation of the Lira. Despite recent interest rate hikes, stabilization remains elusive. Will Turkey overcome its economic challenges, or is it too late? Discover the unfolding story!
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@EconomicsExplained 20 күн бұрын
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@sktt1488 20 күн бұрын
Whole video is outdated statistics no sense.
@makisekurisu4674 19 күн бұрын
I am starting to think turkey would become the 5th type of economy alongside Argentina and japan
@daviechau 7 күн бұрын
@@makisekurisu4674 v. v. g RIriUR
@eemilvanced6592 20 күн бұрын
"“Democracy is like a tram. You ride it until you arrive at your destination, then you step off.”" - Erdogan as the mayor of Istanbul. That should tell you everything
@castorcarvi 20 күн бұрын
Unfathomably based
@beans69beans 20 күн бұрын
@@castorcarviBruh what…? Are you dumb?
@sandwarrior5579 20 күн бұрын
so what's wrong with that?
@penderyn8794 20 күн бұрын
@@castorcarvi why is there always strange beta simpy wimps in the comments like you desperate to be ruled by some random disconnected brutal dictator. The ultimate form of cucking
@foxtwo6328 20 күн бұрын
BASED
@utkank8467 20 күн бұрын
Turkish people are great at making their politicians rich as they support political parties with soccer team fans’ mentality.
@Baysal_Alisan 19 күн бұрын
Exactly, no one is smart enough to question here.
@user-rz8uo1gp2l 19 күн бұрын
Filipinos: Hold my beer.
@Techtalk2030 18 күн бұрын
Yes theyre tork e khars
@muzairanwar 15 күн бұрын
I think thats how it works in every democracy now a days unfortunately. Eithet its red party or the blue one. Conservatives or liberals. And the people have become more and more partisans not would align along party lines on every issue.
@nekhumonta 12 күн бұрын
@@muzairanwarno in my country there are many political parties and people switch between them all the time.
@tsepzz4742 20 күн бұрын
As a Greek, I hope we can both get our economies under control and live in peace
@sassythesasquatch4425 20 күн бұрын
that Erdoshiet dont want peace. he wants your land
@Engifarting456 20 күн бұрын
@@sassythesasquatch4425 source ?
@anlasma7942 20 күн бұрын
@@sassythesasquatch4425greek land have no value. We want the waters
@user-nm6jv8ki2u 20 күн бұрын
Listen to his speech@@Engifarting456
@kaiserwhence2468 20 күн бұрын
@@anlasma7942oof ,now that's a fact
@alonzocoleman1010 20 күн бұрын
"All other things being equal..." I love this because he says it so much, knowing that all other things are never equal.
@Big5ocks 20 күн бұрын
Its the "I'm going to lie just a little" disclaimer 🙃
@antonnurwald5700 20 күн бұрын
It's an economist thing. And yes, it shows that economists usually try to be like theoretical physicists, in a world that absolutely does not support that notion.
@IsolationJD 20 күн бұрын
Ceteris paribus
@new_ale 20 күн бұрын
It allows you to talk about the consequences of economic decisions but avoids "umm ackhtually" comments that want to ignore the point being made
@drscopeify 20 күн бұрын
I assume you mean 3:35 minute in the video? He said that central banks need the freedom to operate by raising rates to counter inflation and you can see right now there are over 150+ countries doing that process, Japan, all of Europe, US, Mexico, Russia, Brazil, Korea, India, Argentina, practically most of the world right now is in a rate hike cycle to control inflation. Which works of course, but Erdogan tried to do the opposite so he could win but that damaged the economy and the Turkish system has been damaged by dollarization. A country needs to have a good strong and healthy currency and if you let inflation rise you damage it. Erdogan is a bad leader and he caused problems that will take a lot of pain to fix. The Turkish people are good people but they let the wrong person lead them for too long.
@BeyerEfendi 20 күн бұрын
As a long-time expat in Turkey, I can tell you that none of the things working to its advantage will ever lead to positive economic results if the country's government doesn't stop cutting its people off at the knees in the name of keeping a nepotistic legion of yes men and women floating on their yachts.
@gabdewulf 20 күн бұрын
That's a story as old as time.
@TheSepetto 20 күн бұрын
Your description is on point and almost poetic.
@ArawnOfAnnwn 20 күн бұрын
Hey at least women get to enjoy those yachts as well. Feminists should be cheering!
@davidr7819 20 күн бұрын
The country deserves so much better. Such a shame the lunatic gets voted in again and again
@genkihoriguchi5612 20 күн бұрын
@@davidr7819 We are faced with an incompetent person who looks out for Turkey's interests. Their opponents are American puppets. If you were in their shoes, who would you vote for? Turkey's main problem is the conflict between Kemalism and the people, that is the whole point. The West is taking advantage of this conflict and treating Turkey as a 3 world country.
@johanstjern4118 20 күн бұрын
What really happened is very simple, the 00s spending boom didn’t result in profitable enterprises. The GDP growth was largely real estate and office construction and ‘finance’. The factories that were built were arguably not competitive. By the 10s the GDP had to come down but they tried to kick the can down the road leading to catastrophic imbalances in demand/supply. Building stuff can boost GDP but it’s just gonna be a pile of debt 10 years later if the stuff built wasn’t profitable.
@marmalet356 19 күн бұрын
bir türk olarak tek doğru yorum budur.
@aliegegursoy3843 19 күн бұрын
Agree and disagree. According to Acemoglu, the 00s boom was genuine and led to higher productivity and overall higher quality of exports with significantly higher value-added to the economy. However, there was a paradigm shift starting in 2007 and accelerating after Erdogan's 2009 local election defeat with the backdrop of the Great Recession, which has led to an obsession with pursuing high GDP growth at all costs, as he (correctly for that time) assessed that from a "rational voter" perspective the single biggest determinant of his electoral fortunes was the GDP growth. Thus the political outlook during the recovery process after 2008-09 was to reap immediate benefits with high short-term returns without much consideration about long-term outlook or sustainability. This led to speculation and construction-driven economic policy of the early 2010s with very high short-term GDP growths and tangibly higher standards of living. However, as one would expect, the dolce vita lasted only a few years and the rest is history.
@marmalet356 16 күн бұрын
@@aliegegursoy3843 buna da katılıyorum. mantıklı yorum yapmayın aq ben bu dünyaya size katılmaya mı geldim.
@dogukan127 16 күн бұрын
You are correct but its was not 100% the way you say it was - Turkey did have productivity growth and technological transformation as well. The opportunity cost of the politics and construction lobby was decades from the future of Turkey.
@janbo8331 11 күн бұрын
What you described was very visible in the early millenia when visiting the country several times. Countless incomplete frames of buildings that were never finished. They'd just build a frame and move on to next frame. I think there were also some (legal) tax evasion schemes behind that.
@parkerhanson4009 20 күн бұрын
love the title. No bait, no grand expectations.
@okman9684 19 күн бұрын
Turkey 🇹🇷 giving Greece 🇬🇷 a good competition in "Who is very bad at managing Economy"
@shafsteryellow 19 күн бұрын
Lol no. Turkey gdp was the same as Greece when Erdoğan took office.... its now over 1trillion bigger than greece
@ilmatanela1816 15 күн бұрын
@shafsteryellow Greeks are 10.43 millions, Turks 84.98 millions. Greek GDP per capita in 2024 $23,966 at nominal value and $41,188 at purchasing power parity.Turkish GDP per capita $12,765 (nominal; 2024) $43,921 (PPP; 2024). So, similar purchase power while at nominal value Turkey is still producing half of what the Greeks do.
@shafsteryellow 15 күн бұрын
@@ilmatanela1816 now what was greece and turkey at in 2000... before erdogan and EU
@ilmatanela1816 14 күн бұрын
@shafsteryellow I have been in Greece several times, but that was much time ago, so I can't comment on what the average Greek life is today. But I know Turkey very, very well, having lived there for years. I have seen with my own eyes the struggles of the families dealing with 150% real inflation and the dramatic disproportion between cost of life and average salaries. And I was in one of the richest and developed cities. The poorest regions of the country are still living in the 50ies. And better not to mention freedom of expression and human rights, which are quite far away from the European standard of democracy. €/TL was 1:2 in 2010. Today 1:35, that says a lot. The average AKP supporter will tell you that it is all a western conspiracy (LOL). You can find plenty of content here on KZfaq, about how the growth of the early 2000 in Turkey was generated and in which pokets the profit went. I may be wrong, and honestly I hope so for the nice people I met there, but to my eyes the future of Greece seems far brighter than the hard times which Turkey will face in the near future if gulf countries will stop pouring money, or better buying infrastructures in Turkey.
@jackholler3572 11 күн бұрын
@@ilmatanela1816Turkeys problems are bureucratic not economic unlike greece. Greece runs on money coming from its diaspora and tourism. And their gdp per capita is increasing becaus3 it loses its population. Where Turkey has a heavy industry. It is increasing its gdp per capita despite increasing population. And greece barely passes Turkey. Stop comparing greece with Turkey. It is no match.
@hilaryhongkong 20 күн бұрын
It's crazy to me that so many decades ago Turkey became a part of the OCED and an EU candidate because of its very promising economy, and all these decades later they're still in the exact same position.
@erenskr 20 күн бұрын
becoming part of EU is more than having a good economy. unfortunetly turkey would not be part of the EU even if its Economy would be better than Germany.
@freddy4603 20 күн бұрын
they're going to have to be real creative if they want to get into the EU without changing the situation in Cyprus.
@MauriceEscargot 20 күн бұрын
The main reason Türkiye hasn't advanced it's position towards EU membership are the 2017 constitutional amendments which gave president Erdogan executive power. It's considered undemocratic by the EU. But imagine if they would be a member of the EU, they would have a strong and stable currency and would form a gateway to the EU from the Middle East. They'd be in a great position to advance their economy.
@yade5979 20 күн бұрын
@@MauriceEscargot " It's considered undemocratic by the EU. " the EU had no problem with the UK which is a monarchy with king and queen. So i dont buy this excuse of them wanting democratic countries at all. Its probably just another one of this things where it was more lucrative for them to keep turkey out of the EU than to take them in.
@kpiwashalt 20 күн бұрын
@@yade5979 The UK is a constitutional monarchy, and one with a parliamentary democracy. So the king or queen has almost exclusively ceremonial power and no say into political decisions of the government - regarding actual executive power, the UK is a parliamentary democracy so I don't know what you deem undemocratic about them.
@user_cv8wysmstt 20 күн бұрын
When people lost trust in the currency, it is extremely difficult to regain their trust.
@zurielsss 20 күн бұрын
Need to replace that guy to regain trust
@ij4674 19 күн бұрын
@@zurielsss Other guys has a cr@pp1er record than him in economy. Did you not see the chart shown here from 1970s to early 2000s?
@zenzender3790 10 күн бұрын
You need to understand that Turkey's neighbourhood is much more volatile than rest of Europe. There are two wars going on. One to the north and one to the south of Turkey.
@rlencax 22 сағат бұрын
The same applies for democracy, human rights, justice system as well right? It is gonna be a long walk until we prove that we value these things after the "sultan" leaves his throne.
@ij4674 21 сағат бұрын
@@rlencax Except from a section of opposition party, nobody gives AF about those. Majority don't feel that way. And why are you all talking as if all these existed before 'Sultan'. There was multiple mltry c0up s, what happened to the first democratically elected ruler? And why main opposition party supported many of these which the Majority of normal population never liked.
@krasavchik8714 20 күн бұрын
Turkey has huge potential, but inept leadership.
@weplo1597 20 күн бұрын
It definitely does. We got alot of historical stuff from other empires, lots of caves with resources, etc but problem is that we don't know how to make good use of them
@user-qb9ex8hc9o 20 күн бұрын
I went to Turkey as a respectful tourist. I was scammed, stolen from, and assaulted, including by a policeman. It's not just "the leadership" that victimized me. I see no "potential" in this country. The place is cursed. No wonder their economy doesn't work.
@MyCamilla1989 20 күн бұрын
@@user-qb9ex8hc9o You sound like a hater with a made up story.
@cakmakmuhammmed1820 20 күн бұрын
@@user-qb9ex8hc9orealyy?
@drmodestoesq 20 күн бұрын
@@user-qb9ex8hc9o So if Turkey was an Amazon purchase you would give it one star? Because Amazon doesn't allow zero stars.
@Nostr00 20 күн бұрын
13:06 POLAND MENTIONED
@theemperor3557 20 күн бұрын
World domination raaaaa 😤😤😤😤
@cheesusdagod585 19 күн бұрын
YES I LOVE POLAND
@Ronesans-sp5np 19 күн бұрын
I noticed as well, as a Turk watching this in Wroclaw.
@alexbaltheodosius8320 19 күн бұрын
Poland can into space
@South_Asia_GeoHist 16 күн бұрын
Why do I find it funny??😂
@Steadyaim101 18 күн бұрын
In 2016 I was an international student at Middle Eastern Tech in Ankara. I lived pretty close to the Turkish parliament and it was kind of nerve wracking. It was a big culture shock seeing gendarmes with machine guns everywhere, officials getting military escorts, bombings at the bus stations, etc. On the night of the coup, I remember all the lights going out and hearing screaming and gunshots everywhere. I watched out the window of my apartment, until I heard the fighter jets going by and the sounds of tanks down the street. I spent the rest of the night hiding under my bed and trying to switch my flight tickets to Greece from next week to the next morning lol.
@TurquazCannabiz 14 күн бұрын
Hey man it was all part of the Turkish experience. I mean how boring would life be without a coup every now and then?
@yavuzy7798 13 күн бұрын
Lol. Welcome to Turkey bro😅
@sadettinarslan5324 6 күн бұрын
innocent people were framed as terrorist and was subjected to genocide by totalitarian erdughan regime. turkey turned into shithole.
@SunshineCoastRealEstate 5 күн бұрын
The 'coup' was a False Flag mission: sponsored totally by your friendly neighbourhood Dictator. A little research will show you that.
@vedatuzunlu8869 4 күн бұрын
steadyaim , all of those things were happened by the Fetullah Gülens group supported by the USA and EU.After that Turkish economy getting worse.
@k0imet_ 20 күн бұрын
Hi there, I am from Kenya, kindly do one for Kenya as well. We may not have hit hyperinflation yet, but would like our situation explained much better and clearly as you do. Otherwise keep up the good work
@HalfLife333 16 күн бұрын
Kenya or Konya?
@aroto 20 күн бұрын
The end stat about Turkey being predicted to be such a large economy is very interesting. Lets see how it will play out
@Procrustinator52 20 күн бұрын
Yeah not anyone's lifetime is enough to see that happening
@NadeemAhmed-nv2br 20 күн бұрын
@@Procrustinator52what he means is Turkish military industries increasing independent of other countries supplies is leading to a military resurgence and as turkeys military might grows even at the cost of its economy, it may be able pull a france and extract economic benefit that will outweigh the losses similar to Frances dying neo colonial west African empire. Its already paying turkey dividends likes it's Somala ties which gives it maritime control of the nation and a 30% of all maritime profits which Somalia is est to be in the billions but from which pirates profit from exclusively right now. It also grants it oil exploration rights at a very beneficial price vs other nations and kind of a monopoly over it. Turkeys turned outwards and it may take a decade but by the looks of it, it seems that their is a heavy payday at the end of the tunnel which will more than easily offset the heavy toll their economy is paying for their military industrial development
@ahadumer418 20 күн бұрын
@@Procrustinator52dude turkey posted a 5 percent gdp growth in 2023
@wrenchax 20 күн бұрын
It's around the top 10 in world purchasing power :) It's no surprise.
@fusionreactor7179 20 күн бұрын
Turkey is essentially destined to be a first world country eventualy. The same can't really be said about the likes of Brazil, Mexico or Russia. Turkey also has an expected population of 97M in 2050 which will likely be higher due to immigration. What Turkey needs to do is increase its nominal GDP to get in line with PPP and it will already be a global major economy. The Turkish GDP PPP is equal to France and UK, will probably be higher next year.
@ereniac 19 күн бұрын
Was there last week. Prices are Copenhagen prices and even higher! Average Danish salary is 3-4 times than the Turkish one when you compare purchase power. It is crazy.
@cancan3881 2 күн бұрын
When you take into account that there's a massive wage gap between normal people and erdogan partisans, it gets even wilder!
@chattw6885 20 күн бұрын
One thing that I dont know you are aware of is that after a good chunk of turkish banks borrowed from EU banks with low interest rates. They gave loans to turkish citizens living abroad (especially in Germany) to buy up property in those foreign countries. So EU banks lend money to turkish banks which lend money to turkish citizens living in western europe to buy up western european property. This wasnt done on a small scale but on a VERY big one. So Turkeys banking system is very deeply intertwined with the housing bubble in western europe, which might lead to some problems in the future
@fusionreactor7179 20 күн бұрын
I have never heard of Turkish people buying property in Western Europe. I highly doubt it is anywhere as major as you make it out. There aren't a huge number of Turks in Europe to be a major factor in the real estate market, and they are usually well integrated and wouldn't take loans from Turkey instead of their resident countries.
@stevencooper4422 20 күн бұрын
Which is also why there is a vested interest by elites in both regions to send as many migrants to Germany and Western Europe as a whole as possible: they need the higher birth rates to prop up demand for their housing bubble.
@stevencooper4422 20 күн бұрын
Which is why policy makers in both regions are pushing for immigration into Western Europe: it props up the real estate demand allowing their bubble to continue
@TuranZeynalliArmWrestling 20 күн бұрын
They buy a lot of properties not only in Western Europe, but also in the US.
@SaturatedCat 20 күн бұрын
@@fusionreactor7179 there are more than 15 million Turks living in western Europe, more than the population of Belgium. Roughly equivalent to the population of the Netherlands. I would not consider them 'well integrated', but I guess that's a matter of perspective.
@online3010 20 күн бұрын
Sounds like Turkey is trying to become similar to Argentina
@tobias2688 19 күн бұрын
...while Argentina is trying to become like Singapore.
@alexbaltheodosius8320 19 күн бұрын
Rather they are on the road to Venezuela
@9tslayer 18 күн бұрын
@@alexbaltheodosius8320Well not anymore if Milei has anything to say about it
@DjibrilD__ 14 күн бұрын
@@tobias2688More like Hong Kong than Singapore, Singapore is not libertarian, it’s a dictatorship that works. Hong Kong is liberal and capitalistic to a certain degree
@tobias2688 11 күн бұрын
@@DjibrilD__ true so let's say HK before China took over
@zigismundus 20 күн бұрын
Let's fly on Turkish Hairlines!
@ElectrostatiCrow 20 күн бұрын
How does one ride a hairline?
@luciusjuniustavianus7540 20 күн бұрын
@@ElectrostatiCrow Oh you'd be surprised
@hasanm843 16 күн бұрын
😂😂😂 funny Hair transplant line :))
@Marv86 10 күн бұрын
Turkish airlines are a flying schoolbus.
@henrijaspers8256 14 күн бұрын
More and more researc and practical examples show that autocracies and/or populist leaders act as a brake on the economy, of which Turkey is a very good example. Hopefully people will understand in time that following a "strong" leader not only costs us hard-won freedoms, but can also hit us hard in the wallet.
@danielhale1 20 күн бұрын
At what point does someone walk in and start slapping leaders, yelling "STOP. PRINTING. MONEY."?
@BOZ_11 20 күн бұрын
I love people who think they know what they're talking about. Turkey's fiscal spending is only ~33% of GDP, that is exceedingly low compared to their western neighbours who are typically between 40% and 50%. There is definitely not a money printing problem, its mostly international forex speculators, who necessarily face a short squeeze if they keep playing the same game for years to come.
@tobias2688 19 күн бұрын
@@BOZ_11turkey's money supply has increased 15x in 10 years, so yes, they do have a money printing problem 😂
@raptorhacker599 19 күн бұрын
@@tobias2688 do u have any idea how fiat money works?
@tobias2688 19 күн бұрын
@@raptorhacker599 Yes I do. Do you? If you 15x your money supply, it's highly likely you will have significant inflation.
@alexbaltheodosius8320 19 күн бұрын
@@BOZ_11And you know what are you talking about applying an isolated ratio to countries with different fiscal system and gdp structure? Offcourse unadequate money supply is a big problem
@CahitbeyAdiAlinmis 19 күн бұрын
Then reality on the ground is very different unfortunately. Turkeys political situation overshadows everything. And I think those people who over estimates turkeys future economical situations should spend at least a month on an average turkishmans shoes
@atherzaidi5871 7 күн бұрын
Erdogan added 10 years to life of a average Turk. Just compare life expectancy before erdogan came to power in 2000 and today.
@stynkanator 20 күн бұрын
Turkey needs a new political party in power. That is all that will save them.
@skp8748 20 күн бұрын
No they don't.
17 күн бұрын
@@skp8748 yes, we f*ing do.
@nekhumonta 12 күн бұрын
Too bad the next biggest party is even worse than Erdogan's.
@Kronosfobi 12 күн бұрын
Its the same old game. This exact scenerio happened 20-30 years ago. Thats how current leadership came to power. The issue is not just the leadership, its the people that needs to learn *why* you *must* elect different parties and politicians as governors, vote different people in to the office occasionally. The whole defense mechanism of Democracy is the public choosing their leaders. If they keep choosing the same men who after a while turn corrupt, you have no way to stop it.
@billybobjohn8955 11 күн бұрын
A new political party isn't going to pull a rabbit out of the hat
@mc4iz 20 күн бұрын
The most Australian video title "... Going?" In the US it would be "How Has Turkey Been Doing?". Just like Australians say "How are you going?" vs US we say "How are you doing?"
@thomaslyons4973 19 күн бұрын
In the west, I think its mainly America that doesnt say it? Im pretty sure my mates from the UK (at least from the North) say "hows it going", and here in German how are you is "wie gehts" wie = how gehts = goes. Italian has Come Va, and French has Ça va, both of which relate verbally to going IIRC. As an Aussie I never thought it was an Aussie thing, but I know the states doesn't use it. Similarly with "how did you find it?" = how was it
@graemeking7336 19 күн бұрын
How's it going, mate.? On two legs, cobber.
@mds698 19 күн бұрын
Nasıl gidiyor diyoruz biz de.
@MiSt3300 19 күн бұрын
Yeah it surprised me as well
@yvng 19 күн бұрын
@@thomaslyons4973 as a brit, we would normally say 'you alright?' but if we said 'how are you doing' or 'going', we would say 'doing'
@aleshandsome3705 20 күн бұрын
How are you going to convince citizens to use your currency, if government institution themselves don't even want to use it? Visited Istanbul Airport and was given too many weird looks when trying to pay with Turkish Lira
@emreelibollar1136 20 күн бұрын
Jesus, i was just thinking to comment for a Turkey video for recent stuff.Much glad.
@vazovic 18 күн бұрын
most tragic side , people are blaming supermarkets and services for price rising :D
@hasanm843 16 күн бұрын
İt's called inflation expectations. The supermarkets also have a role. As well as consumers have a role. They should stand at the door of the supermarkets and not let people in. Or let them buy only in small amouunts necessary food items. This way you will stop the statistics and inflation expectations
@FreedomTalkMedia 19 күн бұрын
If interest rates are high and they are still money printing, that's not them raising rates and money printing. That's them doing everything they can to lower rates but the market saying no. Central banks print money in order to say they are lowering interest rates. That is inflation, which quickly creates upward pressure on interest rates. That's right, the tool central banks used to lower interest rates is inflation, which pushes rates up.
@19furkan96 18 сағат бұрын
Could you elaborate on “the market saying no”? I would like to understand
@HotSTeh 20 күн бұрын
7:10 bro what is my boy Yakub doing on EE video?
@penderyn8794 20 күн бұрын
He doesn't know you
@kaitiracedric2381 20 күн бұрын
Hater@@penderyn8794
@megalocoman 20 күн бұрын
Creating white people 2.0
@prohacker5086 20 күн бұрын
Oh that is my Godfather big brains Scientist Yaqub
@BirdEgg123 20 күн бұрын
I can't believe our God-emperor Yakub created white people smh 😢
@capnstewy55 20 күн бұрын
Turkey is less everyone's friend and more the guy who just shows up at every party.
@MyCamilla1989 20 күн бұрын
Idiotic analogy. Obviously you're a sad dude who loves Family Guy.
@derdummeasi 15 күн бұрын
You rly felt smart writing that didn't you
@sexyboy-er1gc 14 күн бұрын
Just like India and Saudi Arabia. Trying to reap benefits from every block well that actually shows these countries are not vassal states of either USA or china and care about their interests it is a good foreign policy in the long term.
@GeN56YoS 12 күн бұрын
The middle east feels the same about them lol
@kemalerdemsahin410 7 күн бұрын
Only friends of Turkey are... Turkey.
@charlieminor2768 20 күн бұрын
Could you do a video on zimbabwe's new currency
@JinKee 20 күн бұрын
Missed a golden opportunity to open with “Let’s talk Turkey”. It’s why they changed their name.
@luvslogistics1725 20 күн бұрын
One guy is holding Turkey back it seems from watching this video
@SunshineCoastRealEstate 5 күн бұрын
Don't be shy: its the Dictator, Erdogan. Who thinks Mosques are more important than schools, libraries, and hospitals.
@maxheadrom3088 20 күн бұрын
It's been going around in circles ... but we all have been around in circles!
@halkras 18 сағат бұрын
“They don't understand! I am the economist!” is one of the most expensive words ever Türkiye heard
@Pangjunmin 20 күн бұрын
But can I get a medical procedure done in turkey for cheaper still in USD?
@cityoftechnology287 14 күн бұрын
Yep
@audacious0604 20 күн бұрын
Turkey is essentially minting currency, using a small portion to sway votes in rural regions, and keeping the surplus for their leaders. It's just contemporary seigniorage in action. Turkey has the potential to thrive as a thalassocracy similar to the Byzantines and the Venetians from history. Alas, you reap what you sow.
@silversleuth007 15 күн бұрын
Hasn't Turkey's central bank been buying huge amounts of gold for delivery?
@Northernnerd 20 күн бұрын
I'd really love to see your take on Indonesia and it's current economic status.
@edmturk1971 18 күн бұрын
I grew up in Turkey and inflation was always a problem. Nothing new.
@aqwsderxz 13 күн бұрын
not in my time buddy
@thegreatgatsby144 9 күн бұрын
There was no man who knew everything at that time.
@Calamari_Con_Carne 20 күн бұрын
The Turkish population might look well-educated on paper, I assure you the vast majority of their universities are high school level. I did a semester at one of the better universities in Istanbul, let me just say there's room for improvement.
@barsaydn4233 20 күн бұрын
Couple of top unis carry the rest tbh. There are rooms of improvement but these happen due to unis being unable to compete against private markets
@b90e0a 19 күн бұрын
As a Turkish student i couldnt agree more. Theres only 5-10 actual universities at best case scnerio in here and the government is messing up with the education system of even those few Universities, making the education quality worse by day...theres around 200 'universities' in Turkiye yet 190 of them dont produce more than 50 actually educated students per year and those students are not even remotely close in terms of intelligence compared to the grads from the top 10 universities. Whats even scarier is that the government is making the quality of education worse in EVERY level, 90 percent of high school grads cant even do proper division or knows anything about world history, students cant speak at least A2 level english despite having English classes for more than a decade of their life, middle schoolers know less about the world around them than a monkey does because the government would rather fill up religion classes down kid's throats than teach them just the basics of evolution theory.
@jonchrys 19 күн бұрын
You could get a fake TRNC degree.
@i.hate.swedish.ISRAELUBERALLES 19 күн бұрын
Yes most teachers are less educated then the students they lecture Its a clown show
@jonchrys 19 күн бұрын
@@b90e0a is it true they actually educate that original Turkish people are from current area of Turkey and refer to anything Greek as Ionian? to explain why so many ancient sites around. Not trying to get political here as you sound intelligent enough not to get into that stuff. I am just trying to verify something from another video. Thanks
@onurylmaz3798 13 күн бұрын
Great video... Explains 90% of what happened briefly. But 10% is very important too :))
@javiermaripangui6174 19 күн бұрын
I really like your work, i wish you do a chapter about Chile economy.
@urbane7333 20 күн бұрын
Do for Kenyan Economy, your explanation is always on point
@TheFalseShepphard 20 күн бұрын
There isnt a lot of people who'd watch that
@urbane7333 19 күн бұрын
@@TheFalseShepphardokay, though we're on budget and finance season in Kenya and East Africa and it's hot.Try it make even a less than 10 mins don't mind about the views,the impact it will bring is vital
@mohamedkadhemmansour7058 20 күн бұрын
When will you do a video on tunisia ?
@loluser41 19 күн бұрын
You cited the source of data for the research, but where did you find the list of countries ranked per predicted GDP?
@jameskamotho7513 20 күн бұрын
Thanks for this update. Also do one for Sri Lanka and Pakistan...
@pakipower 20 күн бұрын
Paki here, we are in deep sh!t much deeper than anybody's guess. Believe me.
@user-wv8bg8we4g 20 күн бұрын
Any video about central Asian countries?
@poni3367 20 күн бұрын
Please do something on Canada again
@walterjurewicz1567 18 күн бұрын
Turkey is the Argentina of Eurasia.
@Panzer_4 14 күн бұрын
One of the best channels on KZfaq 👌
@meliksaharslan1683 20 күн бұрын
9:34'teki goruntunun nereye ait oldugunu bilen var mi?
@SingleLetterC 13 күн бұрын
alanya
@AlexanderTheGoodEnough 20 күн бұрын
Just got back from vacation there. Wonderful place.
@namshimaru 20 күн бұрын
Going for 10 days in July
@davidr7819 20 күн бұрын
Love it. The food is wonderful ❤
@bluedragontoybash2463 20 күн бұрын
is there really a hyperinflation there ?
@AlexanderTheGoodEnough 20 күн бұрын
@@bluedragontoybash2463 seems to have settled down quite a bit. Didn't have to deal with any of that for the two weeks I was in Kas.
@fusionreactor7179 20 күн бұрын
@@bluedragontoybash2463not hyper, just high, and slowing down
@mr_wormhole 20 күн бұрын
"justice is needed for everyone one day, you will remember"
@Zei33 19 күн бұрын
It always interests me how they change the thumbnail after a day if the video isn’t doing well.
@panathaninf 20 күн бұрын
Yeah yeah we know, every month Turkey is one step from collapsing.... since 2020....
@bluedragontoybash2463 20 күн бұрын
just like China is going bankrupt since 2019
@MrDaredevil96 20 күн бұрын
Read the title and thought I was having a stroke
@AnimatedStoriesWorldwide 20 күн бұрын
From lack of schooling? Title is fine... Learn to read.
@xxvolcomxx56 20 күн бұрын
@@AnimatedStoriesWorldwideno he’s right. it’s super informal. maybe you should learn proper formatting principles
@soulman888 20 күн бұрын
It was spelt incorrectly initially. I came here to correct it too.
@Vandelberger 20 күн бұрын
@@soulman888 Who cares. That is like a German getting mad about us not saying "Deutschland."
@soulman888 20 күн бұрын
@@Vandelberger clearly the people who came here to offer the correction care. ;) But if you have lower standards or are more casual that's ok too. :)
@alex-lu8mi 14 күн бұрын
Turkey needs a plan similar to brazils real plan urv.
@prst99 20 күн бұрын
Wasn’t usury banned many times throughout history by many different civilizations? Merchant of Venice by Shakespeare made me aware of this.
@svart7716 19 күн бұрын
Turkey has everything. Turkey could be one of the richest countries in the world with its Human and natural Resources.. Things can change quickly. İ believe in Turkey.
@shafsteryellow 19 күн бұрын
It is one of the richest countries in the world
@kingofbithynia 15 күн бұрын
We don’t have oil and only recently be able to o explore enough natural gas in 2020. Actually we had oil and gas in past those reserves were insignificant
@Yrkr785 10 күн бұрын
They’ve had centuries of trying to do that and failed at what point does the reality that Turks can’t manage Turkey properly enough to achieve something resembling a stable and prosperous country set in?
@svart7716 9 күн бұрын
@@Yrkr785 yet another jealous troll. Turkey is the largest(after Russia) and the most beautiful country. Don’t be jealous dude!
@Aditya-sf7bd 8 күн бұрын
I don't mean any to offense Turkey. It seems like a beutiful country with potential marred by a corrupt few but second largest after Russia in what?
@McChes 20 күн бұрын
@14:20 - Hair transplant surgery could become a ‘major growth’ industry? Depends how good the surgery is, I guess.
@burakahmettr8193 20 күн бұрын
foreigners generally hapy about it. we cannot use it because its expensive for us.
@VB-de5ik 20 күн бұрын
It would be good if you did a video on Brazil
@yvzbrs 19 күн бұрын
Nothing better than watching my country's economic state while eating my dinner
@hamsterclamper 20 күн бұрын
That title makes absolutely no sense🤨
@princemc35 20 күн бұрын
Pls how?
@levo3456 19 күн бұрын
Written as “Türkiye” not “Turkey”
@denisdenisdenisdenisdenis 19 күн бұрын
turkey
@Hardrada904 18 күн бұрын
@@denisdenisdenisdenisdenissay it right you luddite, türkiye
@denisdenisdenisdenisdenis 18 күн бұрын
@@Hardrada904 Turkey in English
@Hardrada904 18 күн бұрын
@@denisdenisdenisdenisdenis it's Türkiye even in english
@Dik.Muhammad.quranovirus 12 күн бұрын
@@Hardrada904 tharki😂
@jileelmcdaniels7331 20 күн бұрын
I noticed new stories on inflation for alot of countries suddenly stopped. Yet prices are higher than ever
@nadmoi 12 күн бұрын
If the price of 1L of milk is $1 in 2022, and rises to $2 in 2023, that's 100% inflation. If it stays at $2 in 2024, that's 0% inflation, and politicians declare success and everybody goes home.
@joelthomastr 5 күн бұрын
12:08 Er, no, that's not how those forex hedged accounts worked. You got a normal interest rate, but _if_ you would have been better off keeping it in the foreign currency _then_ the treasury would make up the difference. Either or, not on top of. The problem wasn't that it led to money printing as much as it incentivized the government to prop up the lira against the dollar, after having argued that a weak lira would be good for exports. But the lira was sliding so fast that there was no other way to convince people not to convert every lira they got into foreign currency.
@JohnsonAlima 20 күн бұрын
👍👍I love the grounded reality of this channel! Despite the economic recession, I no longer depend on Government Grants since I acquire $40,400 weekly profits
@Philip0128 20 күн бұрын
Great news! how did you get that?
@JohnsonAlima 20 күн бұрын
It's all thanks to Robert Marion
@GeorgeDickey-rw4hj 20 күн бұрын
I know Robert Marion. He platform maintains a unique perspective and is very transparent with their investors. Regardless of whether or not he outperforms. I will forever stay invested!
@shayelynne 20 күн бұрын
Yeah, $60k from Robert Marion, looking up to acquire a new house, blessings 🙌
@GeorgeTyler-sw5zb 20 күн бұрын
This sound so good and I would like to be a party to this, how can I contact your Asset-coach?
@Hasanaljadid 20 күн бұрын
This is old Data.Turkey GDP is 1.2 trillion in 2024
@markb1935 20 күн бұрын
Interesting, where have you found this information? 😊
@LightYagami-qt6wd 20 күн бұрын
He went to every house and counted their money😂@@markb1935
@ahmedghost4446 20 күн бұрын
@@markb1935 İMF and World Bank
@uditnautiyal2356 20 күн бұрын
It's projections 2024 is not end yet it's projections for the year end not or the 1st quarter
@dogsbecute 10 күн бұрын
thats the projected GDP...hes using actual, fungible data....
@arsalanalonto6056 13 күн бұрын
Türkiye is currently joining the BRICS so, the queue for joining EU might be over for
@first_m3m3 18 күн бұрын
What about other countries like in central america?
@__user__name__ 14 күн бұрын
The economy was stable from 2002 until around 2013-2014. However, things began to change with the Gezi Protests, which had a significant impact on the economy. While Western media portrayed the protests as a freedom movement, one could observ terror groups' flags hanging on invaded public buildings in Turkey. When the protests didn't achieve their goals, Turks faced the 2016 coup attempt, which also failed (with the leader of the Gulen terror group, who orchestrated the coup, residing in the U.S., making the connection clear). Following the coup attempt, Turks has to deal with PKK&YPG (U.S. and the West supported Kurdish terror group) Later, President Trump threatened Turkey’s economy explicitly, stating in one of his tweets, "As I have stated strongly before, and just to reiterate, if Turkey does anything that I, in my great and unmatched wisdom, consider to be off limits, I will totally destroy and obliterate the Economy of Turkey (I've done before!)." And he did it before (sinking Turkish lira with billions of dollars it effected US economy as well. ) On top of these challenges, Turkey also endured a devastating earthquake last year. Despite all these obstacles, Turkey as a country will survive. Even if the current nation were to fall, Turks would build another country. It's in their history and nature as nation-builders, from the Seljuks, Ottomans, and Mughals, to the Safavids and the Gokturks.
@luizgrocco 18 күн бұрын
There are more similarities between Turkey and Brazil than I thought after all. Politicians destroying an otherwise potentially great economy. sighs.
@LucasMarreiro 20 күн бұрын
Do Brazil next!
@olafsalgado 19 күн бұрын
Can you make a video comparing Turkey and Argentina?
@j2174 20 күн бұрын
Australia has a population that is about 60% of Canada's. No way it, nor Saudi Arabia, etc will surpass Canada's economy in 2060.
@MasterGhostf 20 күн бұрын
I think what we're seeing is a breakdown in the world order. Capitalism has been a major cause of this imho, not to say its a bad thing. If we go back centuries, economies were localized. Its why the middle east, europe, and asia were relatively on par with each other. Europe was poorer but that was due to taking longer to build the infrastructure to support large populations. Asia and middle east had generational wealth. But, these economies were simple and based on food. Now to modern day where europe took advantage of new scientific thinking it had developed and exploded in wealth and finances they could use to expand their empires and reach. Asia and middle east lagged behind. The only countries on par with European ones would be the Ottomans and China. Ottomans failed to capitalize and industrialize as fast due to the powerful Mamluks, Arab nationalism, the Janissary decadence, and the decadence of their rulers. Ataturk was able to turn that around by removing religion from politics, but not that is returning. The leaders who built their power around religion need to maintain that power at any cost. We see in this in other countries including European ones but the reason its worse in Turkey is that they don't have the centuries of institutions built into the fabric of society. Those institutions Ataturk spearheaded are at most a century old. And with capitalism making the world more cutthroat where losers lose because of their own incapabilities. In the past you could go to war to fix domestic issues and then incorporate those foreign lands where there is plenty of space due to people being dead. But that is no longer the case. As Turkey how do you compete against the likes of Google, Microsoft, Apple, Locheed, Boeing, BAE, Tyson. Tech companies are pretty much impossible to replace unless there is some new tech that a scrappy individual developed which is unlikely due to the specialization of skills. In the past technology was simpler, that is not the case today. Breakthroughs in technology require decades of research not "good ideas". I see the world as those who make, those who create, those who move, and those who feed. What does Turkey do in these cases well? I don't know thats for turkey to figure out. In the end with capitalism i see the world will have to move to fewer and fewer currencies. As countries fail to compete, they will need to adopt other currencies that are stable. Euro, Dollar, Yen, and even the Chinese Yuan.
@Turgineer 6 күн бұрын
There not an economic crisis in Turkey, there is a political crisis and a very big one. That's why it's hard to see the future of the economy.
@ChemistTea 20 күн бұрын
What about the leaderboard? Missing the best part
@vulpo 20 күн бұрын
It sounds like Erdogan would rather have high inflation than high unemployment. With high inflation people will have to work more hours to make ends meet. But with high unemployment, idle people could be rioting in the streets.
@tahaismetsevgili1801 10 күн бұрын
Thats a bullahit theory you are refferring to. Turkey gained no real employement benefits at all from that moronic monetary policy.
@vulpo 9 күн бұрын
@@tahaismetsevgili1801 I think it is pretty well accepted among economists that raising interest rates (especially if raised high enough to bring down the runaway inflation in Turkey) will tend to cause unemployment. That is because businesses won't be able to borrow money to expand, develop, or even continue existing enterprises. It doesn't always work that way, however. If there is already a severe labor shortage, for example, as in the United States in the early 2020s, modest interest rate hikes may not result in high unemployment.
@tahaismetsevgili1801 9 күн бұрын
@@vulpo You are repeating the reductionist arguments given in economics textbooks. Raising interest rates does not only affect buisinesses' borrowing costs. And each buisiness is affected differently. It is a long strect to claim that there is a clear inverse relationship between unemployment and inflation. Just look at any countries' unemployment and inflation data. These things are more misterious than you think.
@vulpo 9 күн бұрын
@@tahaismetsevgili1801 So are you arguing that if Erdogen had raised interest rates enough to control inflation, it would not have resulted in higher unemployment?
@tahaismetsevgili1801 9 күн бұрын
@@vulpo I am not saying anything about it. I don't claim to have a stupid formula that has been proven to be wrong. I am saying that interest rates are only one factor determining employement percentage. If Erdogan got outed for example, and other government did exactly what Erdogan did, we would have severly less unemployement. You know why? Because the people contributing Turkish economy would trust them more. Trust in a country you are doing buisiness in is far more important than anything else. Similarly, If somehow Turkey reforms its justice system the unemployement would fall. As long as Turkey continues to be an importer country with systemic issues, no matter what you do with interest rates you can't decrease unemployement below 10%. Hiking interest rates is just gives you hot money. Turkey has to do it, so it does it. But if it does not do structural reforms, all will be futile. Its all about structural reforms. Nothing else is that much important.
@danushairan 20 күн бұрын
The solution is easy but it will come at a high social costs that must be paid ( There are no pain free solution): Cap the M2 on a specific value and do not allow it to increase. Cut government spending and let free market decide what is the value/Cost of Money instead of a price commisar.
@alexbaltheodosius8320 19 күн бұрын
Right, but it is a problem for incompetent goverments and corporations because without money printing they can't hide their unefficiency
@davisoaresalves5179 20 күн бұрын
Turkey should do something similar to the Real plan in Brasil. Get rid of this currency and fiscal and monetary deep reforms.
@alex-lu8mi 14 күн бұрын
This.
@christoph4794 15 күн бұрын
Thanks for all the great videos! It would be great to speak a little slower actually. Sometimes it is hard to follow when you explain complex dependencies (e.g. sending money here and there and then happens X...) But otherwise, keep going :)
@casbot71 20 күн бұрын
You think Turkey is having a bad time now? Wait till Thanksgiving and then Christmas. 🦃
@eliagreenberg4500 20 күн бұрын
Dad level achieved
@danmadefurniture 20 күн бұрын
🤣🤣🤣
@aland.9060 20 күн бұрын
Not even funny let alone being original
@MyCamilla1989 20 күн бұрын
Pathetic little dad humour. I'm sorry for you.
@SunshineCoastRealEstate 5 күн бұрын
Turkiye dimwit.
@martinh619 20 күн бұрын
I'm gonna support Erdogan and turkey forever .... But I choose to live in germany
@alebado8664 20 күн бұрын
Georgia when?
@SG-js2qn 19 күн бұрын
Turn that crescent moon into a sickle, and you have something closer to the truth of Turkey.
@Eli-qr9hc 20 күн бұрын
Turkey, for the past 20 years, is in a volatile situation, almost bridge like from a caliphate forming
@dronur6194 17 күн бұрын
Mientras ustedes, los occidentales y los países europeos, gastan en el bienestar de la gente, nosotros, los turcos, nos preparamos para la Tercera Guerra Mundial e invertimos en el ejército. Nosotros, los turcos, podríamos invertir en el bienestar del pueblo en lugar de invertir en el ejército, pero no lo haremos por ahora. Türkiye está en el centro del mundo debido a la geopolítica. Los alrededores de Turquía son un círculo de fuego. Türkiye debe invertir más en el ejército. Türkiye no es un país pequeño y cómodo en el continente europeo. Türkiye ha estado expuesta a la inflación muchas veces antes y logró superarla. Ahora Türkiye se está centrando en entrar en los BRIC. Cuando Türkiye se una a los BRIC, será más cómodo económicamente. Türkiye mostró un crecimiento del 3% a pesar de la inflación. Entonces, no hay ningún Türkiye que se esté hundiendo como crees. Al contrario, hay una Türkiye que crece y se fortalece. Ganará el que mantenga a Turquía de su lado.
@_.F0X._ 19 күн бұрын
If you keep printing money without something to back it up ..
@shafsteryellow 19 күн бұрын
That's not what happened
@nyarlathotep6493 19 күн бұрын
What happens if Turkey replaces their fiat currency with gold or silver backed currency?
@tHebUm18 20 күн бұрын
Shocking to learn that the bold strategy of cutting interest rates and growing money supply didn't solve the inflation crisis. Empathy for Turkey's populace losing their democracy and economy compromising their potential.
@skp8748 20 күн бұрын
Their economy is growing and they just had elections
@tHebUm18 20 күн бұрын
@@skp8748 Oh boy, growth alongside inflation still booming with 50% interest rates, I'm sure the people feel good about times ahead! Putin was just reelected too; lots of dictators pretend to have accountability via rigged elections.
@tHebUm18 20 күн бұрын
@@skp8748 Oh boy, growth alongside inflation still booming with 50% interest rates, I'm sure the people feel good about times ahead! Lots of non-democracies pretend to have accountability via rigged elections--just happened in Russia too.
@skp8748 20 күн бұрын
@@KutayZeno cap they just had record exports
@2hotflavored666 19 күн бұрын
Empathy for the same populace that *voted for* losing their democracy in the first place? Seriously?
@TankEnMate 20 күн бұрын
Shouldn't it be "How Is Turkey Going?" or "How Has Turkey Been Going?"
@Ub3rSk1llz 20 күн бұрын
No.
@TankEnMate 20 күн бұрын
@@Ub3rSk1llz Much correct! Very Intelligence! Eaten any good books lately?
@princemc35 20 күн бұрын
Did he change the title or somin? Cuz what i see is "How has Turkey been going?"
@TankEnMate 20 күн бұрын
@@princemc35 Must have!
@masterofgreymog5751 17 күн бұрын
Turkey has the economic fundamentals, but not the political fundamentals. The government needs to enable greater political franchisement and really lean into systems that support its Middle Class.
@DimaErmakov97 13 күн бұрын
Turkey has similar gdp per capita to russia but I tend to not take its society as seriously. It has weak institutions, stunningly low book purchasing rate for a western country, inept leadership. While russia is creating new science, making its institutions better than before, systemazing economy and reduce tax avoidance, the opposite is happening with turkey.
@mohittrivedi9815 12 күн бұрын
Looking at the best scientific papers published by a countries in the last 10-15 years you see even Iran is trying to do better but not Turkey
@_DENZEL_ 20 күн бұрын
Little layer cake reference with the middle man comment 😂
@mitp2514 9 күн бұрын
Living in turkey and i can tell you nothing is working.. Its getting worse and inflation has gone up week on week.. There is nothing that will bring inflation down.. They need major help.
@noname-ed2un 20 күн бұрын
Thanks for such informative videos. I would like for you to do a video on the economic state of Nigeria. I believe your research would be very interesting
@PingSharp 20 күн бұрын
Babe wake up, EE just posted! Wait... I don't have one
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