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Can confirm. Spending a few days in Istanbul and I was surprised. | r/worldnews | comment | r/worldnews | 2024-10-06 |
I was looking around for a place to eat in Istanbul. On Google maps there was a picture of the menu and I thought it was a good price. Went there and it was 150 percent more expensive.
The picture was 7 months old. | r/worldnews | comment | r/worldnews | 2024-10-06 |
It’s been the same for the last 25-30 years that I’ve been going (been going fairly regularly since I was around 10yrs old).
First year we went, around the late 90s, it was 150k TL to 1GBP. Within 2 weeks it had doubled to 250k.
Following year it was 350k, then 500k. Rinse and repeat until they changed it to New Turkish Lira (YTL) when it hit a few million to the pound… essentially dropped the last six zeros. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Yeah a Whopper in Saigon Airport was nuts as well. | r/worldnews | comment | r/worldnews | 2024-10-06 |
I just got to Istanbul a few days ago. Unpleasantly surprised haha. The Netherlands is next. | r/worldnews | comment | r/worldnews | 2024-10-06 |
why the hell the world would want to use scams like bitcoin or any other crypto shit? it's not even backed by anything real or anything meaningful. | r/worldnews | comment | r/worldnews | 2024-10-06 |
“This is peak!”
“Real.” | r/worldnews | comment | r/worldnews | 2024-10-06 |
Not from Turkey, but here's my explanation...
The big picture is Turkey struggled to maintain its currency with all the development it did financed off foreign loans. As the lira lost value, the foreign loans became more expensive. The lira is devalued making people flock to foreign currency (since USD is obviously safe), making the problem worse. Erdogan wanted people to flock to the lira so he *slashed interested rates on loans* which flooded the market with *more money(!) which makes inflation worse ohmygodhowcanyoubesostupid?* Of course people took the free money, but that just poured gasoline on the fire.
Fun story: I remember a year ago or so the Turkish banks were offering something like 30% interest on USD. The catch was you had to convert to TRY and keep it in the bank for a year. This was an insanely expensive program trying to reduce the impact of foreign currency on Turkey's finances. Obviously, it failed. Because of course it would. But that just tells you how bad its been. When the banks offer 30% and nobody takes it.......
Looking at the situation today, obviously anyone who took the banks up on that offer lost a massive amount of money and basically had stood on a giant cartoon red 'X' with a piano hanging over their head by a string.
An 'obvious' solution is to ditch the lira and adopt something like the euro or USD, but if Turkey does that then they lose control over domestic policy. And turkey IS in a position to grow into a significant regional power. They have so many cards in their favor... EXCEPT finances! So they are still trying to make this lira thing happen. They can do it. But it means a leader like Erdogan will have to indulge non-populist instincts for a long enough time to allow Turkey to take their medicine. And it will be painful even if they do the right things. We will see if rational heads can prevail... | r/worldnews | comment | r/worldnews | 2024-10-06 |
Atleast the subway and busses are still super cheap in Istanbul and really good. The new airport subway is stunning to be honest. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Peak comedy | r/worldnews | comment | r/worldnews | 2024-10-06 |
Yes. That’s exactly what it looked like on your original comment. Do you really expect me to read your mind and know ur a western & you don’t care about Turkey, when you literally commented on a post about Turkey, replying to calling out Erdogan’s Islamic economics & criticising it by saying the Western world specifically Trump is going to ‘Christian policies’ are just as bad (when he has nothing to do with Turkey)
Yea on the outside it didn’t exactly look like you were Western & were defending Erdogan economics
In the future I’ll read ur mind instead of assessing only what I can see from your comment 👍 | r/worldnews | comment | r/worldnews | 2024-10-06 |
Elaborate. Because it must be easy to speak all the way from I presume Ottowa, making judgments on a country's economy which you've never been a part of. Prove to me that Erdogan """"fixed""" the economy after the supposed "worst economic crisis" (ya gotta completely disregard the last 15 years to consider any state of the country worse than it already is now).
Also, where to even start about your absolutely mindless conclusion that the economy somehow improved because he turned the million system into a one unit system. How does it make sense to you that this somehow fixed things? Are you willfully ignorant to the all time peak inflation? Rampant corruption which led not only to the desecration of forests just so the Kuwaits can build hotels on the land but also all time high unemployment rates? How the Islamist regime gave way to a spike in marital murders? How mass immigration caused higher racial tensions with the AKP bringing more and more undocumented immigrants into the country claiming they're our Islamic brothers? I can go on and. Can you?
If you're really that knowledgeable about Turkey, I invite you to comment on all of these and more. But I know you're not. I know the problems that Turkish people face are statistics to you, but its not just numbers and r/worldnews to the people that live here, its a harsh reality that the youth have to accept and either move out through some illegal or fucked up method or try to improve things here when they don't want to be improved. You don't know. You won't know.
Move on. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Cool, I’m visiting Istanbul, it’s not cheap. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Why they changed it I can’t say. | r/worldnews | comment | r/worldnews | 2024-10-06 |
I don't know much about this so I asked GPT for a summery of Erdogans arguments to lower the rates when the inflation is high. He's not an economy mastermind that's for sure.
President Recep Tayyip Erdoğan has for several years advocated an unconventional view on economics, especially concerning interest rates and inflation. His main arguments for lowering interest rates, despite high inflation, include the following:
1. **Lower Rates for Economic Growth**: Erdoğan has argued that lower interest rates stimulate economic growth by making borrowing cheaper for investments and consumption. He believes higher interest rates hinder economic activity and growth.
2. **Combating Inflation with Low Rates**: Erdoğan holds the unusual position that higher interest rates actually cause higher inflation. This contrasts with conventional economic theory, which states that raising rates reduces inflation by dampening demand.
3. **Support for Investments and Production**: He believes that low interest rates encourage investment in production and businesses, which in turn would increase the supply of goods and services and thereby reduce inflationary pressure.
4. **Religious Arguments**: Erdoğan has also used religious arguments against high interest rates, referring to Islamic principles that discourage interest (riba).
However, these arguments have been heavily criticized by economists and financial analysts, who argue that they are incorrect and counterproductive. Critics contend that lowering interest rates in a high inflation environment exacerbates the situation by further devaluing the currency and driving up prices for imported goods.
Sources:
- [BBC](https://www.bbc.com/news/business-59657098)
- [Bloomberg](https://www.bloomberg.com/news/articles/2021-12-16/erdogan-rates-mantra-goes-viral-amid-fears-for-turkey-s-economy) | r/worldnews | comment | r/worldnews | 2024-10-06 |
Exhibit 9562 regarding why dictatorships are bad | r/worldnews | comment | r/worldnews | 2024-10-06 |
Thank you for this. Lastly, in your opinion do you think Milei is the person for the job, or do you think Argentina will continue to be a force unto its own re: its economic issues?
I guess I’ve read up quite a bit on where Argentina was economically at the beginning of the 20th century to now and can’t quite grasp why it seems to single handedly have this issue for so long. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Opposite of what? I said it could be good or bad | r/worldnews | comment | r/worldnews | 2024-10-06 |
>You want to raise nominal rates so that the difference becomes positive.
That's my point in the form of a rhetorical question. | r/worldnews | comment | r/worldnews | 2024-10-06 |
By no definition of the word is Trump theocratic. I'm sorry, you're reaching really hard here. | r/worldnews | comment | r/worldnews | 2024-10-06 |
That’s why Turkish youth is leaving in droves. Like my local grocery store is run by 80% young Turkish guys who moved to the US as students and are staying behind. Many turn truck drivers . | r/worldnews | comment | r/worldnews | 2024-11-06 |
>oh gee, that sounds sort of bad but doesnt back up what i'm saying at all!
Have I talked about that at all?
>ahh there we go. well i hope you had a good time talking with me today, though by browsing your comment history it looks like you never have a good time. shucks!
So you went as far as reading a quarter of the way through a Wikipedia article on Erdogan before concluding inflation in Turkey must have been better before? You can just google new Turkish lira, or look up banknotes with denominations in the hundreds of millions that were printed before he took power. Like an image search would get you there, you don't even need to read any text. | r/worldnews | comment | r/worldnews | 2024-11-06 |
Ironically, getting the currency under control is one of the things that got Erdorgan into power. | r/worldnews | comment | r/worldnews | 2024-11-06 |
My prediction would be to place China among Japan and South Korea.
Industry developed at an insane speed, but moving towards service based economy halts the insane growth pace, followed by a population crisis. | r/worldnews | comment | r/worldnews | 2024-11-06 |
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Do you think that in the history of the world, many countries have a lot more claim over a land than the fact that they simply managed to take it, hold it and make allies who agreed to those borders? | r/worldnews | comment | r/worldnews | 2024-10-06 |
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The Philippines' output won't shift the problem either way. the people that need to move are tge USA Russia and China.
and to be fair, Natural Gas burns cleaner that coal or petrol or diesel or ... | r/worldnews | comment | r/worldnews | 2024-10-06 |
>For years, evidence has accumulated that natural gas power is not much better for the climate than coal, if at all.
Bullocks since this considers gas flaring and leaks, but not coal seam fires, among other issues. Gas is ideal for stable supply and energy "transition" for low-mid-income nations. Coal is better for peak production though. | r/worldnews | comment | r/worldnews | 2024-10-06 |
The Philippines might be tiny but it does have 1/3rd the population of the US. Might move things a bit more than expected.
On the other hand, it's a tropic nation so they don't have huge heating energy costs in the winter. No idea if AC in the summer offsets that. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Still better than coal. Don't let perfection stand in the way of good enough. | r/worldnews | comment | r/worldnews | 2024-10-06 |
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This puppet has a royal blue tie, while this puppet has a evergreen tie, while this puppet has a "crazy" maroon tie, etc. Which puppet will Khamenei pick to win the "election"? | r/worldnews | comment | r/worldnews | 2024-10-06 |
(The other candidates are bungling from a crane).) There. I fixed the title. | r/worldnews | comment | r/worldnews | 2024-10-06 |
How many candidates can you fit inside a Russian Doll ?
Apparently the answer is 6. | r/worldnews | comment | r/worldnews | 2024-10-06 |
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If mainstream politicians could actually tackle immigration rather than just pretend, then the far right would be nowhere. But here we are. | r/worldnews | comment | r/worldnews | 2024-10-06 |
They will never tackle it, because its in their globalist agenda to lower white population and replace them with blacks, so they will never change, the only change we hope is that right will close the borders | r/worldnews | comment | r/worldnews | 2024-10-06 |
*Turning and turning in the widening gyre*
*The falcon cannot hear the falconer;*
*Things fall apart; the centre cannot hold;*
*Mere anarchy is loosed upon the world,*
*The blood-dimmed tide is loosed, and everywhere*
*The ceremony of innocence is drowned;*
*The best lack all conviction, while the worst*
*Are full of passionate intensity.*
William Butler Yeats "the second coming" 1919 | r/worldnews | comment | r/worldnews | 2024-10-06 |
People alive today don’t know how fucking good they got it in a lot of these countries and want to blame all their problems on Government policy.
Well if you go full fascist, you’ll learn you can have a shitload of problems you never even imagined. | r/worldnews | comment | r/worldnews | 2024-10-06 |
She better notice the trends for which HER rule lead. If not, next parliament will make this one look like gay parade. | r/worldnews | comment | r/worldnews | 2024-10-06 |
By definition, democracy is government of the people, or simpler - a rule of the majority. Now what you're describing might fall under constitutionalism which is democratic, but constraint by certain laws that uphold civil liberties. Essentially, rule of law. | r/worldnews | comment | r/worldnews | 2024-10-06 |
I mean you can say that, but it's not like we just all of a sudden had low supply, that's a slow burn issue, not what caused all the recent spikes. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Some head scratching statements in the above comment so I looked at this guys history and found he’s an Alex Jones apologist. Jesus these people are like a cancer in the western world | r/worldnews | comment | r/worldnews | 2024-10-06 |
Alex Jones apologist? Hardly, I think what happened to him is absolute insane. By the same logic people should be suing the NYT/NY Post/WSJ out of existence that peddled known lies time after time that actually got people killed.
Edit - ah youre a Jewish Supremacist. Id rather not engage with hateful bigots | r/worldnews | comment | r/worldnews | 2024-10-06 |
it's a slow burn issue that got much worse. By far the most expensive thing you'll own is your home and salaries haven't kept up with the increase of housing costs and combined with high interest it's a huge blow.
And the impact is big, there were some stats in us with cities that did build a lot vs cities that did it at slower peace and the price evolution for housing was astonishing. | r/worldnews | comment | r/worldnews | 2024-10-06 |
>immigration. It’s great for a country but these arent the people for it. From religious fanatics to basically outlaws. It’s a shit show.
This has been said about every immigrant group ever. It is just xenophobia and nothing else. Unless you think all Italians, Irish, Polish, Romanians etc. are in the same category. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Are you referring to Minnesota? The issue with that study is Minnesota isn't this super high growth state. And yes building housing will dampen costs, but that's way more a local issue than national. Places like California with their isane property tax laws essentially incentive people to age in place, even when they are outside the workforce, making prime age workers commute even further making climate change worse | r/worldnews | comment | r/worldnews | 2024-10-06 |
> The fact no politician has tackled it means they just don’t care.
Why politicians would tackle something that makes them money? And it will still make them money when they fall out of politics. Thus housing will only get even worse :/ | r/worldnews | comment | r/worldnews | 2024-10-06 |
"center holding" is code for "moving right". There is never anything good that comes from a "center holding" statement. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Yeah if there is one thing the military isn't known for it is raging homosexual behavior. Nope, not a thing. /s
Seriously a general is probably the gayest of all, how you think he moved up the ranks? | r/worldnews | comment | r/worldnews | 2024-10-06 |
🚮
I sincerely hope in your next life you amount to more than a pathetic internet troll. Truly tragic for you and your parents. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Ahhh, yes, because everyone obviously knows that America has never ever had issues of any sort with immigration
/s | r/worldnews | comment | r/worldnews | 2024-10-06 |
Kojak, rescue me from this timeline. | r/worldnews | comment | r/worldnews | 2024-10-06 |
>Don’t recall saying ethnicity determines bad immigrants. I said religious fanatics
Latinos and religious fanatics from the middle east. Oh yeah, what nice characteristics people choose to have, being latino or being from the middle east. Those things must surely define their entire being. | r/worldnews | comment | r/worldnews | 2024-11-06 |
I said Latinos are great people and hard workers when taking about immigrants coming to the USA. I said the issue with France is immigrants from the Middle East have issues integrating because of their religious believes.
Are you insane? lol it’s like you don’t want a conversation about the issue. Instead you want to plug your ears and if you hear a key word you latch to it and make insane conclusions. | r/worldnews | comment | r/worldnews | 2024-11-06 |
Which common people are you talking about? Most of them voted for center left + center right parties. What is the far right going to do to get these voters that they haven't done already? Why would we expect their support to grow? | r/worldnews | comment | r/worldnews | 2024-11-06 |
>Alright you aren’t insane you lack reading comprehension lol.
If you think identifying very basic unveiled racism is weird I can't help you I suppose. | r/worldnews | comment | r/worldnews | 2024-11-06 |
Users often report submissions from this site for sensationalized articles. Readers have a responsibility to be skeptical, check sources, and comment on any flaws.
You can help improve this thread by linking to media that verifies or questions this article's claims. Your link could help readers better understand this issue.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/worldnews) if you have any questions or concerns.* | r/worldnews | comment | r/worldnews | 2024-10-06 |
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lmaoooo he was walking away like he did an oopsie in his pants | r/worldnews | comment | r/worldnews | 2024-10-06 |
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That's my favorite Jewpac Shakur album | r/worldnews | comment | r/worldnews | 2024-10-06 |
imagine Putin live up his name, putin everyone that lives in Russia into the meat grinder | r/worldnews | comment | r/worldnews | 2024-10-06 |
Better to die killing Russian commanders than die killing innocent Ukrainians. Just sayin'. | r/worldnews | comment | r/worldnews | 2024-10-06 |
>This isn't the first time this is happening and this won't be the last. But with that being said Russian casualties are on the lighter side. This is what tempts the mercenaries to join the Russian army in large numbers.
Lmao no wonder so many dumbfuck Indians are joining up to get blown to fucking pieces in Ukraine, do you actually believe this shit?! | r/worldnews | comment | r/worldnews | 2024-10-06 |
Anyoune that subscribes to anything on the far side of the spectrum is usually not the brightest... | r/worldnews | comment | r/worldnews | 2024-10-06 |
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Nope, you could say that if most of Indians would've voted against Modi. But that didn't happen. Modi got 38% vote share and opposition got less than 38% vote. So BJP got 240 seats alone & opposition combined got 238. That means majority Indians voted for Modi. | r/worldnews | comment | r/worldnews | 2024-10-06 |
No, he isn't humbled, within 6 months he will "buy up" the rest of the MPs and will be in control again | r/worldnews | comment | r/worldnews | 2024-10-06 |
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Huh. Gotta look into how their elections work. Thanks for clearing that up! | r/worldnews | comment | r/worldnews | 2024-10-06 |
Curious, what’s been the major impetus behind the move to the right for France and Italy? | r/worldnews | comment | r/worldnews | 2024-10-06 |
Immigrants, immigration and the mass movement of people across borders. | r/worldnews | comment | r/worldnews | 2024-10-06 |
You forgot migrants | r/worldnews | comment | r/worldnews | 2024-10-06 |
Migrants. I’m surprised after all these years governments have failed to address this issue and get grip on it. Voters have been banging on for years to get it sorted but yet they kick the can. Wake up call perhaps for Macron.. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Isn’t the French party one founded by a guy who openly denies the Holocaust? And his daughter is the leader who doesn’t seem to disagree with her father? | r/worldnews | comment | r/worldnews | 2024-10-06 |
They would have done better in Germany if the ADF weren’t outed as outright Nazis to the point that the French far right wouldn’t have anything to do with them. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Basically they’ll get the local policy and Macron the military and international policy given what I have seen. The consensus around here is part of the reason Macron is having elections now is he hopes they’ll screw up the local policy making before the 2027 elections. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Putin is drowning himself in champagne. | r/worldnews | comment | r/worldnews | 2024-10-06 |
So we’re heading for a crusades…. | r/worldnews | comment | r/worldnews | 2024-10-06 |
Man doesn't believe in the existence of Boats.
Or the Carribean. | r/worldnews | comment | r/worldnews | 2024-10-06 |
He's more right-wing then Biden, but he's still not a Trump. Tho he likes to lie constantly like Trump. | r/worldnews | comment | r/worldnews | 2024-12-06 |
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And Xi Jinping | r/worldnews | comment | r/worldnews | 2024-10-06 |
And the other guy......the fucking Iranian one | r/worldnews | comment | r/worldnews | 2024-10-06 |
And fuck Kim and Trump | r/worldnews | comment | r/worldnews | 2024-10-06 |
I think we have reached a point where we no longer give a rats ass.
The war needs to be taken to Russia. | r/worldnews | comment | r/worldnews | 2024-10-06 |
100% this | r/worldnews | comment | r/worldnews | 2024-10-06 |
Kimmy junk uno and Tramp-turd? Why not, are they crazy... Yes! | r/worldnews | comment | r/worldnews | 2024-10-06 |
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If you have a center-right pp, it might be Peyronie’s disease. | r/worldnews | comment | r/worldnews | 2024-10-06 |
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