How Has Turkey Been Going?

[@EconomicsExplained]

Get 20% off DeleteMe US consumer plans when you go to joindeleteme.com/EE20 and use promo code EE20 at checkout

[@sktt1488]

Whole video is outdated statistics no sense.

[@makisekurisu4674]

I am starting to think turkey would become the 5th type of economy alongside Argentina and japan

[@daviechau]

@@makisekurisu4674 v. v. g RIriUR

[@aptalsandvic5355]

Living in Turkey is very weird these days. I lose track of how much things are supposed to cost super easily. Someone could try to sell me something really overpriced and i'd go ''Yeah i guess that makes sense, the cost must have inflated while i wasn't looking''

[@matthuntelaar8486]

Always check prices in other markets in US dollars.

[@multiplequarters]

öyle oluyo

[@amacsizbirkisi]

Bir süre sonra insan umursamıyor, ha beş lira vermişim çaya ha on lira ha yirmi lira.

[@utkua]

@@amacsizbirkisi iste oyle olunca artik o para, para niteligini yitirmis demektir.

[@loxleylireturns]

The perception of price has gone

[@utkank65]

Turkish people are great at making their politicians rich as they support political parties with soccer team fans’ mentality.

[@Baysal_Alisan]

Exactly, no one is smart enough to question here.

[@Warlord_Delta]

Filipinos: Hold my beer.

[@Kurdish20226]

Yes theyre tork e khars

[@muzairanwar]

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]

​@@muzairanwarno in my country there are many political parties and people switch between them all the time.

[@okman9684]

Turkey 🇹🇷 giving Greece 🇬🇷 a good competition in "Who is very bad at managing Economy"

[@shafsteryellow]

Lol no. Turkey gdp was the same as Greece when Erdoğan took office.... its now over 1trillion bigger than greece

[@ilmatanela1816]

@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]

@@ilmatanela1816 now what was greece and turkey at in 2000... before erdogan and EU

[@ilmatanela1816]

@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 KZbin, 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]

​@@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.

[@eemilvanced6592]

"“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

[@beans69beans]

@@castorcarviBruh what…? Are you dumb?

[@sandwarrior5579]

so what's wrong with that?

[@foxtwo6328]

BASED

[@nicbahtin4774]

Kebab Grindset

[@watchm4ker]

​@@sandwarrior5579It assumes there *is* a 'destination'. That at some point, a perfect leader is appointed, and there is no more need to question or remove them. It's a fairy tale, "Happily Ever After" idea, and like all fairy tales, *this is not real.* It's a fantasy of a government terrified of being held to account, and loosing power.

[@μιατρελητρεληφαρμα]

As a Greek, I hope we can both get our economies under control and live in peace

[@sassythesasquatch4425]

that Erdoshiet dont want peace. he wants your land

[@DonKrieg-382]

​@@sassythesasquatch4425 source ?

[@anlasma7942]

​@@sassythesasquatch4425greek land have no value. We want the waters

[@user-nm6jv8ki2u]

Listen to his speech​@@DonKrieg-382

[@kaiserwhence2468]

​@@anlasma7942oof ,now that's a fact

[@halkras]

“They don't understand! I am the economist!” is one of the most expensive words ever Türkiye heard

[@ereniac]

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.

[@johanstjern4118]

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]

bir türk olarak tek doğru yorum budur.

[@aliegegursoy3843]

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]

@@aliegegursoy3843 buna da katılıyorum. mantıklı yorum yapmayın aq ben bu dünyaya size katılmaya mı geldim.

[@dogukan127]

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]

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.

[@alonzocoleman1010]

"All other things being equal..." I love this because he says it so much, knowing that all other things are never equal.

[@Big5ocks]

Its the "I'm going to lie just a little" disclaimer 🙃

[@antonnurwald5700]

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]

Ceteris paribus

[@new_ale]

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]

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.

[@parkerhanson4009]

love the title. No bait, no grand expectations.

[@BeyerEfendi]

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]

That's a story as old as time.

[@TheSepetto]

Your description is on point and almost poetic.

[@ArawnOfAnnwn]

Hey at least women get to enjoy those yachts as well. Feminists should be cheering!

[@davidr7819]

The country deserves so much better. Such a shame the lunatic gets voted in again and again

[@genkihoriguchi5612]

@@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.

[@user_cv8wysmstt]

When people lost trust in the currency, it is extremely difficult to regain their trust.

[@zurielsss]

Need to replace that guy to regain trust

[@ij4674]

@@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]

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]

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]

@@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.

[@hilaryhongkong]

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]

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]

they're going to have to be real creative if they want to get into the EU without changing the situation in Cyprus.

[@MauriceEscargot]

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]

@@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]

@@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.

[@xrexo6508]

One thing i can say as a guy who lives in turkey is that the whole reason for this kind of infilation is corruption. A lot of it

[@afd1040]

Oh yeah and it is system deep which mean both the ruling party and the opposition is in it. Like if they weren't so corrupt and invested to their people our economy would soar.

[@henrijaspers8256]

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.

[@rursus8354]

Soon to be a lesson also for USA.

[@krasavchik8714]

Turkey has huge potential, but inept leadership.

[@weplo1597]

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

[@DavidWhite-n7v]

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]

​@@DavidWhite-n7v You sound like a hater with a made up story.

[@cakmakmuhammmed1820]

​@@DavidWhite-n7vrealyy?

[@drmodestoesq]

@@DavidWhite-n7v So if Turkey was an Amazon purchase you would give it one star? Because Amazon doesn't allow zero stars.

[@Steadyaim101]

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]

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]

Lol. Welcome to Turkey bro😅

[@sadettinarslan5324]

innocent people were framed as terrorist and was subjected to genocide by totalitarian erdughan regime. turkey turned into shithole.

[@SunshineCoastRealEstate]

The 'coup' was a False Flag mission: sponsored totally by your friendly neighbourhood Dictator. A little research will show you that.

[@vedatuzunlu8869]

steadyaim , all of those things were happened by the Fetullah Gülens group supported by the USA and EU.After that Turkish economy getting worse.

[@aroto]

The end stat about Turkey being predicted to be such a large economy is very interesting. Lets see how it will play out

[@Procrustinator52]

Yeah not anyone's lifetime is enough to see that happening

[@NadeemAhmed-nv2br]

​@@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]

@@Procrustinator52dude turkey posted a 5 percent gdp growth in 2023

[@wrenchax]

It's around the top 10 in world purchasing power :) It's no surprise.

[@fusionreactor7179]

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.

[@vazovic]

most tragic side , people are blaming supermarkets and services for price rising :D

[@hasanm843]

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

[@k0imet_]

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]

Kenya or Konya?

[@pufferfishaeugh1432]

​@@HalfLife333Advanced Humour

[@onurylmaz3798]

Great video... Explains 90% of what happened briefly. But 10% is very important too :))

[@chattw6885]

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]

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]

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]

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]

They buy a lot of properties not only in Western Europe, but also in the US.

[@SaturatedCat]

​@@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]

Sounds like Turkey is trying to become similar to Argentina

[@tobias2688]

...while Argentina is trying to become like Singapore.

[@alexbaltheodosius8320]

Rather they are on the road to Venezuela

[@9tslayer]

@@alexbaltheodosius8320Well not anymore if Milei has anything to say about it

[@DjibrilD__]

@@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]

@@DjibrilD__ true so let's say HK before China took over

[@mc4iz]

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]

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]

How's it going, mate.? On two legs, cobber.

[@mds698]

Nasıl gidiyor diyoruz biz de.

[@MiSt3300]

Yeah it surprised me as well

[@yvng]

@@thomaslyons4973 as a brit, we would normally say 'you alright?' but if we said 'how are you doing' or 'going', we would say 'doing'

[@emreelibollar1136]

Jesus, i was just thinking to comment for a Turkey video for recent stuff.Much glad.

[@audacious0604]

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.

[@tutturankamon]

Data from Turkish sources doesnt mean much since they are %90 likely to be altered. Lets say, take those numbers with a grain of salt

[@kaganozdemir4332]

as a statistician who regularly works with tcmb and tuik data, i can confidently say that those resources are absolutely trustworthy. turkish data collection has been great ever since the ottoman empire (otherwise, how well could they tax you?). the issue lies in how the media reports it. raw data usually doesn't tell you anything, it's the analysis that makes it worthy, and they don't share proper analysis results.

[@aleshandsome3705]

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

[@aca347]

You should stick with euros or dollars when visiting Turkey (lira is basically toilet paper), but always keep the exchange rate in mind. If you find yourself paying 40 euros for a pizza don’t just pay it without resistance. We love ripping off tourists what can I say. Also tourist girls are seen as “easy” so if you are visiting with your wife or gf or something, maybe stick close to them. Never trust a taxi drivers. Don’t trust restaurant owners. Call the police if they force you to enter and take a seat. Also if someone passes out in front of you just keep walking.

[@theemirofjaffa2266]

​@@aca347 Daaammmm! That's a lot to take at one go.

[@aca347]

@@theemirofjaffa2266 yeah my homeland isn’t really the best country to visit right now. Bad economy and websites getting banned left and right drove everyone insane.

[@QUINTUSMAXIMUS]

I had a large meal at the airport and used lira with no problem at all. Sure, they prefer euro.

[@CahitbeyAdiAlinmis]

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]

Erdogan added 10 years to life of a average Turk. Just compare life expectancy before erdogan came to power in 2000 and today.

[@ArdaSReal]

They always overestimate because thats how Turkey was supposed to be... Turkey as a country is technically in such a good position, demographics, industry, geopoliticial position etc etc so much going for it but years and years of corruption and uneducated population just stall any progress. Turkeys potential is sky high, i dont know what is needed to finally reach it but democracy will not work here as long as the voting population is so blinded and controlled

[@FreedomTalkMedia]

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]

Could you elaborate on “the market saying no”? I would like to understand

[@turkishultranationalist]

@@19furkan96 Diyor ki market kanmıyor senin faizleri azaltacağına çünkü sen halen daha para basmaya devam ediyorsun. Para basmaya neden devam ediyor çünkü yandaşlara dağıtacağı sözleri var, ödemesi gereken maaşlar var, borçları ve onların faizleri var. Para basmayı azaltması lazım ama yapamıyor çünkü hükümet çürük. Para basıldıkça market yani doğal rekabet mekanizmaları paranın değerinin düştüğünü hissediyor ve bu her olduğunda da enflasyon artıyor. Nasıl paranın değerinin düşüşü istemsiz bir şekilde anlaşılıyorsa faiz politikasının yanlışlığı da aynı şekilde anlaşılıyor bunu anlatmaya çalışmış.

[@MeansToMyDear]

I live in turkey and everything is so expensive😢

[@veryunusual126]

😂😂😂🫵🫵😂😂😂

[@nietzsche2221]

Diktatöre oy vermeye devam edin😅

[@HotSTeh]

7:10 bro what is my boy Yakub doing on EE video?

[@kaitiracedric2381]

Hater​@penderyn8794

[@megalocoman]

Creating white people 2.0

[@prohacker5086]

Oh that is my Godfather big brains Scientist Yaqub

[@BirdEgg123]

I can't believe our God-emperor Yakub created white people smh 😢

[@fusionreactor7179]

He is inventing an evil race

[@Gamba_with_Cigarette]

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]

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]

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]

You could get a fake TRNC degree.

[@i.hate.swedish.ISRAELUBERALLES]

Yes most teachers are less educated then the students they lecture Its a clown show

[@jonchrys]

@@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

[@Nostr00]

13:06 POLAND MENTIONED

[@theemperor3557]

World domination raaaaa 😤😤😤😤

[@cheesusdagod585]

YES I LOVE POLAND

[@Ronesans-sp5np]

I noticed as well, as a Turk watching this in Wroclaw.

[@alexbaltheodosius8320]

Poland can into space

[@AdilX-oj8ng]

Do you mean poorland ?

[@reinbew62]

Turkish person here, you DO NOT know how TIRED I am of living here. Help.

[@veryunusual126]

😂😂🫵🫵😂😂

[@sarahhaaniaxoxo]

@@veryunusual126 Disgusting

[@2msvalkyrie529]

Stop complaining !. .At least you have good weather and delicious food !!

[@kalvon]

​@@2msvalkyrie529good weather and delicious food doesn't mean you have a roof on top of your head or get to eat a delicious meal once a day. Seriously, average Turkish citizens are getting poorer as we speak right now, that's how bad it is. The money just won't stop devaluating.

[@eray7232]

I laughed when you said "Highly intelligent population". We are talking about people that have been voting for AKP for the last 20 years.

[@bear9295]

The voting was nearly 50-50 why are you insulting people? There are clearly sane people in Turkey as well.

[@kaganozdemir4332]

they vote for akp not because they are stupid, it's because they are being bribed by the party under the name of social support.

[@coolcool2117]

Have you seen the other political parties? Akp is a good choice if you know the entire picture.

[@QUINTUSMAXIMUS]

@@bear9295 Unfortunately, it's not simply the other 50. I mean look at the CHP. Kilicdaroglu kept losing and losing but refused to make away for others though he claimed he was fighting for democracy. Finally, he was forced out. And the IYI Party and CHP couldn't get along in the end, but Aksener was right that Imamoglu or Yavas should have run. And the AK Party-MHP party voters kept voting and voting for their clowns though they lied in 2017 saying if they created a presidency the economy would be great. I remember it. The economy became worse, but they still voted for him to the tune of 52% last year.

[@bear9295]

@@QUINTUSMAXIMUS yes, the whole government is kind of a joke right now. And it is not clear who wants the best for the people of Turkey.

[@charlieminor2768]

Could you do a video on zimbabwe's new currency

[@danielhale1]

At what point does someone walk in and start slapping leaders, yelling "STOP. PRINTING. MONEY."?

[@BOZ_11]

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]

​@@BOZ_11turkey's money supply has increased 15x in 10 years, so yes, they do have a money printing problem 😂

[@raptorhacker599]

@@tobias2688 do u have any idea how fiat money works?

[@tobias2688]

@@raptorhacker599 Yes I do. Do you? If you 15x your money supply, it's highly likely you will have significant inflation.

[@alexbaltheodosius8320]

​@@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

[@sarpsays]

Very informative video. Thank you.

[@zigismundus]

Let's fly on Turkish Hairlines!

[@FictionHubZA]

How does one ride a hairline?

[@luciusjuniustavianus7540]

@@FictionHubZA Oh you'd be surprised

[@hasanm843]

😂😂😂 funny Hair transplant line :))

[@Marv86]

Turkish airlines are a flying schoolbus.

[@afd1040]

@@FictionHubZA You see when a scalp and a doctor love each other.

[@qwill8254]

Highly intelligent people of turkey 😅😅😅😅😅 .

[@selin_tanriverdi]

What should we do as citizens ?

[@MushoSultan]

no escape darling, you live off of stolen lands and wealth. Everything you have belongs to Armenians

[@MushoSultan]

​@@Nottheworst4565 attack on your college professor (if you had any education) who uses his brain and say that he's not skilled.. or your neighbor in the building or the street just because you like their house or daughter ..

[@hamlet557]

@@Nottheworst4565 -You make is sound as if stealing is worse than k*lling millions of people to conquer a land. -In any case, no surprise that people who raise their kids to praise violence they can't create a nice society to live. Enjoy what you created! Stay there.

[@QUINTUSMAXIMUS]

Buy whatever gold or Bitcoin you can?

[@Hesh-]

Turkiye's economic theory is one of the best and most innovative that I've even learned about. If nothing happens and they manage to get out of the pit it will taught in schools for years to come. I can't but salute pioneering and resilience.

[@rlencax]

The one part I disagree is that "Turkiye has a highly educated population". We wouldn't be in this situation if it was. Democracy is a double edge blade.

[@QUINTUSMAXIMUS]

Yeah, a lot of very uneducated attitutdes. People have been too ideological at the expense of logic. The AK Party promised in 2017 the economy would be better. It got much worse, but they still voted for them. What suckers .

[@capnstewy55]

Turkey is less everyone's friend and more the guy who just shows up at every party.

[@MyCamilla1989]

Idiotic analogy. Obviously you're a sad dude who loves Family Guy.

[@derdummeasi]

You rly felt smart writing that didn't you

[@sexyboy-er1gc]

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]

The middle east feels the same about them lol

[@kemalerdemsahin410]

Only friends of Turkey are... Turkey.

[@vedarovski4110]

Biggest problem in Turkey is media. It is all sided and it is impossible to know who is lying and who is telling the truth. Media and politicians are divisive. There are traitors and terrorists amongst politicians and journalists. So, it is hard to trust the opposition(main opposition party clearly works with traitors for more power). This makes it harder to oppose the ruling party. Ruling party uses that and gains more power. However, people got sick of this power play recently so main opposition party, which is pretty bad at governing and obviously stealing from the people, gained more power for no self-deserving reason. They won the election in major cities. They were governing for 4+ years. They are doing pretty bad job. They put Istanbul in debt. Public transportation got slower and worse(They don't repair vehicles regularly. There are busses caught on fire. Etc.). There are good politicians in and out of ruling and main opposition parties. However, they are not rising to leading positions. It is impossible to rise without drama and corruption. In the end, everyone wins except the people.

[@freespiritable]

That's everywhere

[@AlexanderTheGoodEnough]

Just got back from vacation there. Wonderful place.

[@namshimaru]

Going for 10 days in July

[@davidr7819]

Love it. The food is wonderful ❤

[@bluedragontoybash2463]

is there really a hyperinflation there ?

[@AlexanderTheGoodEnough]

@@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]

@@bluedragontoybash2463not hyper, just high, and slowing down

[@Pangjunmin]

But can I get a medical procedure done in turkey for cheaper still in USD?

[@SumansiyManyi]

Yes u can. And u will get better medical procedure than usa.

[@no-nx3ip]

That’s the only thing going for the nation

[@bear9295]

In short; Yes. The economy affects Turkish people, tourists aren't affected. Also compared to US or EU everything is cheaper in Turkey. Doesn't change anything for Turkish people. We still can't afford basic necessities.

[@urbane7333]

Do for Kenyan Economy, your explanation is always on point

[@TheFalseShepphard]

There isnt a lot of people who'd watch that

[@urbane7333]

@@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

[@ommkarsarangi4197]

Your contents are amazing. Lots of love from India 🇮🇳

[@Northernnerd]

I'd really love to see your take on Indonesia and it's current economic status.

[@maxheadrom3088]

It's been going around in circles ... but we all have been around in circles!

[@edmturk1971]

I grew up in Turkey and inflation was always a problem. Nothing new.

[@aqwsderxz]

not in my time buddy

[@thedancinghunter0]

There was no man who knew everything at that time.

[@isk9154]

aynen kanka nothing new.

[@MortisGod_FS]

​@@isk9154I know değil mi

[@isk9154]

@@MortisGod_FS ne

[@mustafakurt8878]

This video is so good. I will recommend it to my friends.

[@JamshidbekOrifjonov-r9s]

Any video about central Asian countries?

[@lukaklimaviciute521]

Your videos pose very good questions, but I am not sure they always get answered (eg so what are the solutions for Turkey? The video only said that it needs a stable currency - but how to stabilise it?). It would be useful to dedicate 10-20 seconds at the end to briefly summarise the answers to the 3-4 questions raised in the beginning of the video, also given that the content is usually quite dense.

[@hamlet557]

"but how to stabilise it?" - stop printing money

[@walterjurewicz1567]

Turkey is the Argentina of Eurasia.

[@luvslogistics1725]

One guy is holding Turkey back it seems from watching this video

[@SunshineCoastRealEstate]

Don't be shy: its the Dictator, Erdogan. Who thinks Mosques are more important than schools, libraries, and hospitals.

[@adoculos1046]

this

[@sonat33]

R.T.E

[@tibbiesthehawk]

Yup

[@no-nx3ip]

The tall man

[@theglobelanguages]

Remember the Turkish people recently voted to continue this, let them enjoy it.

[@MyCamilla1989]

You clearly have big opinions based on limited information. You're pathetic.

[@skp8748]

A booming economy, record exports?

[@theglobelanguages]

@@skp8748 Makes sense if you are an entrepreneur exporting or in tourism, not so much if you are an ordinary person facing inflation and currency collapse. But anyway, being poorer was a sacrifice the ordinary person was willing to make, more power to them I guess.

[@skp8748]

@@theglobelanguages turkey has never been richer than it is now. Ll

[@theglobelanguages]

@@skp8748 Yes but, you’re conflating the wealth of elites with the people. With inflation in the double digits far surpassing wage growth and economic growth, it’s not ordinary people who are winning. At least they got to choose though, so that’s nice. Let’s leave it at that!

[@mohamedkadhemmansour7058]

When will you do a video on tunisia ?

[@jameskamotho7513]

Thanks for this update. Also do one for Sri Lanka and Pakistan...

[@masaldiyar2306]

How long will the others?

[@MrDaredevil96]

Read the title and thought I was having a stroke

[@AnimatedStoriesWorldwide]

From lack of schooling? Title is fine... Learn to read.

[@xxvolcomxx56]

@@AnimatedStoriesWorldwideno he’s right. it’s super informal. maybe you should learn proper formatting principles

[@soulman888]

It was spelt incorrectly initially. I came here to correct it too.

[@Vandelberger]

@@soulman888 Who cares. That is like a German getting mad about us not saying "Deutschland."

[@soulman888]

@@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. :)

[@poni3367]

Please do something on Canada again

[@londonmf]

Very good explanation of what has gone wrong with the Turkish economy . Erdogan is supported by the uneducated religious masses in central and eastern Turkey who believe him when he says the problems are caused by Western nations who hate him. By controlling the media and getting rid of any potential political opponents Erdogan is now in total control so don’t expect any economic recovery until the government changes. There is a huge brain drain going on in Turkey with young , bright people all desperate to move abroad as there is little opportunity in Turkey to fulfill their potential. Things may improve over time but a full scale economic crisis seems much more likely at this point than any sort of recovery.

[@silversleuth007]

Hasn't Turkey's central bank been buying huge amounts of gold for delivery?

[@meliksaharslan1683]

9:34'teki goruntunun nereye ait oldugunu bilen var mi?

[@stalinsbutterfly]

Kız kalesi

[@stalinsbutterfly]

Kız kalesi

[@julianm4500]

Mate, this is so familiar for me in 🇦🇷. Crazy how the same things fail in all countries are implemented

[@MushoSultan]

implemented or corrupted?

[@stynkanator]

Turkey needs a new political party in power. That is all that will save them.

[@skp8748]

No they don't.

@@skp8748 yes, we f*ing do.

[@nekhumonta]

Too bad the next biggest party is even worse than Erdogan's.

[@Kronosfobi]

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]

A new political party isn't going to pull a rabbit out of the hat

[@loluser41]

You cited the source of data for the research, but where did you find the list of countries ranked per predicted GDP?

[@XanthumS]

as a turk it is not going well brother

[@sudebulut6299]

I wanna underlie that Turkey never had hyperinflation. If we had , probably our citizens would be more critical about effects of high inflation . We just always have high inflation.

[@vulpo]

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]

Thats a bullahit theory you are refferring to. Turkey gained no real employement benefits at all from that moronic monetary policy.

[@vulpo]

@@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]

@@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]

@@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]

​@@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.

[@theknight4317]

You used to add book names in the description ! You changed man!!!

[@keepthefaith9594]

Turkiye is losing its tourists due to charging too high prices in restaurants and for drinks. Turkiye charging higher prices than england like for e.g. £5 for one ice cream to tourists. Turkiye forgets England is going through its own cost of living crisis too, that's why most people prefer to go all-inclusive instead of being ripped off. If Turkiye lowers prices and makes things cheaper to buy than England instead, Turkiye is more expensive than england. that's why tourists are put off. We expect more cheaper prices aboard not more expensive, that's why turkiye loosing tourism cos there ripping people off.

[@MushoSultan]

not only that, they are listed to be the most aggressive people on this planet and throughout history.

[@MrBCWalker01]

The best solution is to just adopt the US Dollar and the Euro as Legal Tender and be done with it. That gives the Turkish state stable currencies to use at home while doing the necessary work required to unfuck things so the Turkish Lira is worth using for something other than toliet paper.

[@myturkishlife1777]

I have been here in Turkey since 2006, yes the economy is odd to say the least, however there is always new buildings and infrastructure being built, restaurants and shops are always busy, the building supplier I use said the prices are higher but more and more people are building, the house market is strong .. Yes strange but oddly ok .. If you have money in the bank you can easily live off the interest every month .. We will see how it goes ,, cheers Have a great day everyone 👍

[@hamlet557]

"If you have money in the bank you can easily live off the interest every month .." Seriously, learn about how inflation and interest rates work, because it really ISN'T like that at all.

[@coolcool2117]

I agree with op. People are complaining but I see them eating out everyday.

[@VB-de5ik]

It would be good if you did a video on Brazil

[@Awadşaşfmrlrşfşdştlalwırrım]

As a Turk thats why ı want to live in germany

[@nostro1940]

Sure, you and billions of other people. Germany doesnt want you tho

[@TimepassKeeda]

German economy is Decreasing It is in Recession now 😜

[@MushoSultan]

you should all go to germany and give turkey back to its real owners, the Armenains

[@first_m3m3]

What about other countries like in central america?

[@Paleb-wj2we]

So our best solution is hair transplant tourism? We are so fucked…

[@LucasMarreiro]

Do Brazil next!

[@_.F0X._]

If you keep printing money without something to back it up ..

[@shafsteryellow]

That's not what happened

[@mirandapillsbury7885]

Good potential for sure

[@umaydoruk4526]

as a turkish person, it hasn't been going at all

[@Turgineer]

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.

[@korulussss1234]

As a Turkish myself, i know that Turkey has A LOT of economic potencial but the goverment wastes our recourses horribly bad. For example Turkey has %71 of the boron reserves in the whole world; but what did we do with it? Absolutely NOTHING. Second of all, the general resources that we have ( like iron, copper, etc. ) are used for nonsense; if we had a stable policital system we could use the resourses for our country's growth, like we could import some of it, we could use it for the damaged villages and towns that need serious help; but what do we do? Make a bridge that has no purpose and just a waste of materials. Third problem is that we are located in beetween Asia and Europe ( That's normally a good thing ) but we don't use this opportunity, we're just like a door holder now. And the fourth and last main problem is how actually cheap and uselles the taxes are. Normally ( In a stable country )taxes are used to support the country, support the services, support the people, etc. But in Turkey the unreasonable taxes that we give is just for the higher-ups [( The goverment officials ) (And they cut costs like crazy]. This is generally why the economy is declining in Turkey. (Not including the corrupt goverment) And Turkey wasn't like that before. When Atatürk was in command of Turkey, he modernized the country, he made Turkey one of the best places to live in. So in conclusion, the goverment needs to be changed, that is the only way that Turkey can get a second chance of being one of the important economies in the world.

[@sakisp3118]

Ataturk made it one of the best places, uless you were a local christian

[@olafsalgado]

Can you make a video comparing Turkey and Argentina?

[@JinKee]

Missed a golden opportunity to open with “Let’s talk Turkey”. It’s why they changed their name.

[@youngstark603]

tI almost cried hearing these issues voiced. I it saddens me that nothing will change soon. Those solutions that were mentioned in the video will most likely never see the light of day. Cant help but feel trapped. My country is shooting itself in the foot over and over but there is nothing that I can do but watch :(

[@luizgrocco]

There are more similarities between Turkey and Brazil than I thought after all. Politicians destroying an otherwise potentially great economy. sighs.

[@Zei33]

It always interests me how they change the thumbnail after a day if the video isn’t doing well.

[@casbot71]

You think Turkey is having a bad time now? Wait till Thanksgiving and then Christmas. 🦃

[@eliagreenberg4500]

Dad level achieved

[@danmadefurniture]

🤣🤣🤣

[@aland.9060]

Not even funny let alone being original

[@MyCamilla1989]

Pathetic little dad humour. I'm sorry for you.

[@SunshineCoastRealEstate]

Turkiye dimwit.

[@silo6460]

There‘s s german channel using your Videos and copying them into German. Even the Thumbnails are almost identical. It‘s called „Wirtschaftswissen“

[@svart7716]

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]

It is one of the richest countries in the world

[@kingofbithynia]

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]

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]

@@Yrkr785 yet another jealous troll. Turkey is the largest(after Russia) and the most beautiful country. Don’t be jealous dude!

[@svart7716]

@Aditya-sf7bd You are right. I mean “area” in Europe

[@devrim-oguz]

People of our government have no intent in fixing the economy. All they want is their own prosperity.

[@Eli-qr9hc]

Turkey, for the past 20 years, is in a volatile situation, almost bridge like from a caliphate forming

[@joelthomastr]

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]

👍👍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]

Great news! how did you get that?

[@JohnsonAlima]

It's all thanks to Robert Marion

[@GeorgeDickey-rw4hj]

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]

Yeah, $60k from Robert Marion, looking up to acquire a new house, blessings 🙌

[@JohnsonAlima]

+192