Turkey's Economy is about to BURST - Sorry Ekrem it's Da Truth!!!

GHook93

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I will be LOL when it happens. Read the article. Arrogantdogan created an artificial boom using foreign money and the government forcing banks to issue bad loans (sound familiar)! Geece collasped when it's budget deficit hit 10% of it's GDP, Turkey is currently at 9.5% and rapidly increasing! Once those loan start to burst open (like they did in the US), then the Turkish economy will implode! It's a big Turkish butt-fucking. Turkey already has high unemployment and poverty. After the Turkish credit bubble burst, they are going to wish they were Greeks! The Kurds are licking their lips!

Ekrem, I will be toasting to your countryman's misery at that point (OK I won't since before Arrogantdogan took over, Turkey was a pretty great country with good people)! :eusa_whistle:

Turkey?s economic lie - Israel Opinion, Ynetnews
Turkey’s economic lie

Op-ed: Turkey no economic powerhouse, Erdogan’s credit bubble will soon explode

Guy Bechor Published: 09.15.11, 23:49 / Israel Opinion
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Some refer to him as “the Middle East’s new sultan in a neo-Ottoman empire” – yet the truth about Erdogan’s kingdom is utterly different. We are not facing an economic power, but rather, a state whose credit bubble will be exploding any moment now and bringing down its economy.

The budget deficit of the collapsing Greece compared to its GDP stands at some 10%, and the world is alarmed. At the same time, Turkey’s deficit is at 9.5%, yet some members of the financial media describe the Turkish economy as a success story (for comparison’s sake, Israel’s deficit stands at some 3% and is expected to decline to 2% this year.)


While Turkey’s economy grew by some 10% this year, this was merely the result of financial manipulation.

So how does the system work? The banks in Erdogan’s Turkey handed out loans and mortgages to any seeker in recent years, offering very low interest rates; this was in fact a gift. As the interest rate was so low, Turkish citizens used more and more credit, mostly for consumption.

And how did Turkey’s Central Bank finance this credit party? Via loans: Erdogan’s bank borrowed money in the world and handed it out to its citizens. However, Turkey’s deficit kept growing because of it, until it reached a scary 8% of GDP; by the end of the year the figure is expected to reach 10%.

Turkey’s external debt doubled itself in the past 18 months, which were election campaign months. Only a small part of the deficit (15%) was financed by foreign investment. The rest constitutes immense external debts.

Now it’s clear that Erdogan’s regime bought the voters in the recent elections. Most of the Turkish public elected him not because of Islamic sentiments, but rather, because he handed out low-interest loans to everyone. I will provide you with cheap money so you can become addicted to shopping, and you shall elect me.

The Israel diversion
This created Turkey’s credit bubble, which may explode any day now, because the date for returning the loans approaches. Will the Saudis help Erdogan as he hopes? This is highly doubtful. Nobody is willing to pay for attacks on Israel, and the West is annoyed by Erdogan’s thuggery. Why should they help him?

Moreover, Turkey’s unemployment rate is 13% and the local currency continues to plummet vis-à-vis the dollar – it reached its lowest levels since the 2009 global crisis. With a weak currency and with a stock exchange that lost some 40% of its value in dollars in the last six months, Erdogan wants to be the Middle East’s ruler?

Once the bubble explodes, the score with Erdogan will be settled, by the journalists his government ordered to arrest, by army officers charged with imaginary accusations, by the restrained scientists, the politicians, and mostly the general public, which shall be facing an economic disaster.
 

Moonglow

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they have been saying that about China for several years also
 

ekrem

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Turks spend their own money:

Free Article for Non-Members | STRATFOR
The Turks have also avoided another common trap: Their lending binge is fueled with their own money, not that of foreigners. Most of the rest of the developing world is currently enjoying ultra-cheap credit provided by the developed world’s various economic stabilization efforts. (For the poorer EU states the situation is compounded by the fact that they are receiving extra-European credit at the same time the eurozone continues to provide them with German-style credit access.)

Unemployment is 9.2%, not 13% like the Jew article claims.
Turks taking credit from Turkish banks is absolutely sustainable, because household-debt is one of lowest within OECD. That's also the reason why most of foreign FDI into Turkey is into banking sector (it's profitable):





As for government debt:



Let's see the economic crisis coming which Jew press is predicting!
 

ekrem

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http://www.ukti.gov.uk/download/file/174660.html

- 65% of industrial exports from the MENA (Middle East And North Africa) region originate from Turkey

- Turkey has become Europe’s 2nd largest iron and steel maker and the world’s leading producer of construction iron.

- The 5th largest shipbuilding country of the world.

- Turkey is the biggest bus manufacturer and the third largest light commercial vehicle manufacturer in Europe

- Turkey's export volume in 2010 is more than Turkey’s total export volume between 1923 and 1990.

- During the global financial crisis net profits of the banking sector rose by 50%

- Turkey has been meeting Europe's Maastricht Criterion (debt-to-GDP below 60%) on public debt since 2004.

- Turkey was one of the few countries whose credit rating was upgraded by two notches by Fitch during the global financial crisis.

- In terms of motor vehicles, Turkey is the Europe’s 5th and the world’s 15th largest producer.

- In 2009 Turkey was the 7th most visited country in the world

- Istanbul is the 3rd mostly visited city of Europe, after London and Paris.

- Turkey will be the highest growing IT market in the 2009-2014 period, followed by Poland.

- Turkish company Vestel is the largest TV manufacturer in Europe accounting for 16% of the LCD TV, as well as 25% of the digital set-top boxes markets in Europe.

- One in every 6 electrical household appliances in Europe is “made in Turkey”

- Turkey has the 2nd largest telecommunications market in Europe after Germany

- Turkish owned Turkcell is the third biggest operator in Europe in terms of
number of subscribers.
 

ekrem

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So racial epithets help your argument...how?
Piss of with your selective reading, wanker.
Nothing to say about that Jew talking about "Turkish butt-fucking" in his 1st post?
 

ekrem

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Rat in the Hat

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Turkey only has a surplus because their money is invested in vast camel herds.

 

Charles_Main

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Isn't Turkey part of the Eurozone? Or am I wrong? It's hard to keep up and I am to lazy to search it.

The Euro is going to fail people. I'm Sorry you can't have a national Currency with no nation, Not Central Government to control Monetary Policy. The EU was hoping a shared Currency would push the EU toward a stronger Political Union to match their Monetary union, and it's not happening.

Germany is not going to keep taking the load, and bailing out EU countries as they fail. I predict it crumbles soon.
 

The Rabbi

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The Turks will suffer for their treatment of Israel. This is just history.

I will say the Jewish population of Turkey has historically been treated very well although I dont know the state of things right now. I would guess growing Islamic fascism is making everyone worry.
 

editec

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Is it?

Seems pretty healthy to me in comparison to most national economies.
 

Jos

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The Turks will suffer for their treatment of Israel. This is just history.

I will say the Jewish population of Turkey has historically been treated very well although I dont know the state of things right now. I would guess growing Islamic fascism is making everyone worry.
The thing about Turks, Muslim, jew and christian is that they are Proud to be Turkish first
 
OP
GHook93

GHook93

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they have been saying that about China for several years also
First they have been saying that about there manufacturing monopoly, nit their credit market.
Second, turkey isn't china. Not by a long shot.
Third, they were saying that for years about our's and europe's credit market before they crashed.
 

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