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Turkey's Financial Crisis

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Re: Turkey's Financial Crisis

#131

Post by hereforphone »

smnrchrds wrote: post #18
hereforphone wrote: post #2

Erdoğan claims that lowering interest rates to zero or near zero is more in line with Islamic principles, which may be true (according to interpretation of Islamic principles, I assume). This is a bold move that reinforces what was already suspected: he is continuing to solidify his power by appealing to Islamic sympathies. During the recent coup calls to resist the belligerents were broadcast over mosque loudspeaker…

> Islam was acceptable (as Turkey was attempting to be a "free" republic), but not compulsory. Until Erdogan overturned it, there was a ban on women wearing hijab (the head covering , that the vast majority of Muslims consider a basic tenet of their religion) in universities in Turkey. I leave the judgment to you, but personally I wouldn't consider asking millions of people to choose between adhering to their religio…

I don't disagree with you but I'd like to provide some context for how things have shifted, for others reading this thread. The current headscarf culture in Turkey, as I see it.

The head coverings (various kinds) are associated with modesty. They are often fashionable modesty (?!) in Turkey now, as Armani and others advertise cutting-edge, expensive headscarfs. Some women are using them as a status symbol. They can also be used to signal pro-Erdoğan, pro-Islamist (in a government sense) sentiments.

Now, a woman not wearing a head covering (very many do not) may be called a slut by women wearing them. Rare perahps, but these things happen. There is often a palpable tension between the groups of women who wear them, and the groups of women who do not. It is as I said often a political symbol.

Re: Turkey's Financial Crisis

#132

Post by darkhorn »

In recent months it has appeared that some high ranking members of AKP is taking over private businesses by arresting, threatening or even killing the owners. Biggest media company in Turkey was bought by Erdoğan without spending a penny. They still didn't pay. https://www.ft.com/content/3273aafc-4317-11e8-97ce-ea0c2bf34... Also watch this one https://www.youtube.com/watch?v=dvWOVToEmsA

Re: Turkey's Financial Crisis

#133

Post by syshum »

mghfreud wrote: post #105
syshum wrote: post #95

Earlier quoted context omitted.

>> US ... was desperately trying to raise inflation. Well good news, they succeeded beyond their wildest dreams....

Right, but at least they said they know there is a problem and they will address it. It is not like how it is in Turkey where they said “inflation is high, let’s decrease it by printing far far more money and decreasing interest rate further”.

Have they? because last I checked they (both the Tresury, and The Fed) still insist that this inflation is transitory, supply chain issue not their monentary policy... (they investigated themselves and found they did nothing wrong)

And they are still claiming government spending trillions is not the cause, and will not create new inflation..

So no, I dont believe they have acknowledged the problem at all, nor are they really going to address is. Sure the fed says they will wind down their buying, and signaled they might raise interest rates VERY VERY VERY minimally, they are acting as if demand caused by supply chain issues is the root cause

It is not

Re: Turkey's Financial Crisis

#134

Post by finikytou »

AnimalMuppet wrote: post #51
lucian1900 wrote: post #41

Earlier quoted context omitted.

Saudi Arabia as the direct source of Wahhabis, with the US funding and arming them. Russia has been supporting the secular Syrian government.

I fail to see how the US is funding the Saudis. Arming, maybe. Funding? Not so much.

ask the clinton fundation

Re: Turkey's Financial Crisis

#135

Post by finikytou »

objektif wrote: post #63
AnimalMuppet wrote: post #51

Earlier quoted context omitted.

I fail to see how the US is funding the Saudis. Arming, maybe. Funding? Not so much.

Not necessarily Saudis but the so called "rebels". Turkey openly aided ISIS and other violent rebels in the region. I can tell you Turkey did not do this alone as a Nato member.

and turkey host more than 3 millions syrians. how many the US do after starting the war?

Re: Turkey's Financial Crisis

#136

Post by Andrew_nenakhov »

throwaway123x2 wrote: post #99
Andrew_nenakhov wrote: post #90

Earlier quoted context omitted.

Quoted post unavailable.

lol this is so patently false. in a family very close to me, the husband would very much like his wife to wear not hijab and his wife tells him to mind his own business. both are muslim.

Tell it to this girl [1], or this [2] girl. You won't be able to tell it to this [3] girl, because she killed herself, rather than submitting to this barbarity.

If you have some anecdotal example of a person who does this willingly (likely because of systemic multigenerational indoctrination), it does not prove that many other women are not willing to submit to this requirement, yet, are powerless to resist it without having to face severe consequences.

[1]: https://www.bbc.com/news/world-middle-east-56085734 [2]: https://www.dailymail.co.uk/news/article-1348389/Muslim-woma... [3]: https://english.alarabiya.net/News/middle-east/2013/07/17/Eg...

Re: Turkey's Financial Crisis

#138

Post by Andrew_nenakhov »

Cyph0n wrote: post #91
Andrew_nenakhov wrote: post #90

Earlier quoted context omitted.

Quoted post unavailable.

And the solution to that imaginary problem is.. to ban all women from wearing hijab? Excellent logic.

Of course, male from Saudi Arabia claims that this problem is imaginary. What a surprise. /s

Just because you decided to consider this problem imaginary, it does not mean that this problem does not exist in the real world, bringing suffering to millions of disenfranchised women.

Re: Turkey's Financial Crisis

#139

Post by Bayart »

radycov wrote: post #125
Bayart wrote: post #100

Earlier quoted context omitted.

I would feel extremely comfortable banning those head coverings from all universities, if not all public venues. Religious vestment simply has no place outside of ritual occasions. But then again, I'm from the country Atatürk took after. From our point of view, allowing religion to exist is treating it with tolerance. Acknowledging religion as something that deserves any sort of deference by the State isn't acceptabl…

>> Acknowledging religion as something that deserves any sort of deference by the State isn't acceptable. What next, enforce a communist uniform on everyone and strictly control their freedom to express their thoughts? Do you realise how ludicrous you sound? I note you're French and your religious expressions laws are not made in the name of secularism, rather specifically intended to discriminate against a sizeable…

>What next, enforce a communist uniform on everyone and strictly control their freedom to express their thoughts? Do you realise how ludicrous you sound?

You're making leaps in logic that don't make sense to me. You're the one being ludicrous, as far as I can tell.

>I note you're French and your religious expressions laws are not made in the name of secularism, rather specifically intended to discriminate against a sizeable minority.

At the time those laws were made, the absolute majority of the country was made of church-going Catholics. That at the present day they're mostly invoked in relation to a religious minority doesn't make any difference.

> Presumably your also include a Christian Cross necklace?

Sure.

> What about a symmetric cross that's visibly a cross but not a traditional cross? A cross at an angle?

Is it a token of belonging to a religious organization ? If so, keep it private. I don't see what's complex about that.

> You're entitled to express your point of view, of course, but please be more convincing and informed than a nationalistically ideological charlatan (how ironic).

I'm informed about the political and religious history of my own country, and as such transversely familiar with the framework Atatürk tried to put in place in Turkey. I'm less familiar with the ways it started breaking down. And frankly, you're not in any position to demand better argumentation on my part if you're not doing as much yourself.

Re: Turkey's Financial Crisis

#140

Post by mghfreud »

costac wrote: post #114
mghfreud wrote: post #101

Earlier quoted context omitted.

You are asking the correct question, it does not matter if the cost is financed by banks or public. The cost of borrowing increased substantially, even though exchange rate decreased in the last one week. Access to TL got harder by the actions of the government. This is why interest rates increased.

Of course it matters. If banks bare the cost, they have to pass it on to their customers by raising rates. If the public pays for it, the government and central bank will end up printing money --one way or another -- to pay depositors. And all this mind you only IF people move a substantial amount of their lira deposits to the new product AND the lira depreciates more than the rate on the underlying lira deposit acco…

I am saying that the government raised interest rates substantially, one way or the other. It used couple of tools to do it, one of them is promising expected dollar appreciation as interest. (Tl is expected to depreciate at least at the rate of inflation, which substantially higher then central banks overnight rate, hence they have increased interest)
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