enoch

Member
Top Poster Of Month
Watch The Lira Now

Turkish vendor starts selling 'half a simit' in protest of price hikes

A Turkish street vendor has started to sell half simits (also referred to as Turkish bagel), saying that citizens' purchasing power decreased considerably in the face of steep price hikes.


A street vendor has started to sell half simits (Turkish bagel with sesame seeds) in protest of price hikes following the lira's crash in value.

“People's purchasing power decreased. People have been desiring [to buy goods], but they cannot buy. And so we launched the half simit campaign,”

The price of a simit is currently 2.50 liras, and the interviewed vendor is selling “half simits” for 1.25 liras each.

The cost of living expenses in Turkey are expected to become even more painful in the upcoming days amid the local currency's sharp depreciation. It is no longer just the low-income families who suffer from the currency crash, but the middle class too.

Rejecting to put on any responsibility for the lira's collapse, the President earlier this week said that the country was in a "war of economic independence."


Some markets have put signs up saying don't blame me for the high prices I don't hike them.
 

enoch

Member
Top Poster Of Month
Watch The Lira Now
After the decrease in interest rates by the turkish bank, what difference did it make? A drop in commercial loan rates and deposit rates. BUT consumer loans increased so saving money for the right again not for the normal punter
 

Camden

Member
Watch The Lira Now

Econmist/Columist Necmettin Batırel is propagandist ... does he know,by repeating something doesn't make it so ? It's not the first time he has said the same. ( see link below) no wonder the Yeni Akit is giving him voice, it fits their masters ideology ( see link below)

Anyway who is going to take Economic advice or predictions from mr Batirel who was the economic adviser for the now bankrupt Ilhas Finans ? a bank of sorts that followed Islamic ideology of no interest .. owned before its bankruptcy and fraud case by the parent company Ilhas Holdings who coincidently also owns the paper Batirel is columnist for...follow the money they say ..in this case lost depositors money.

Necmettin Batırel, who previously said 'The dollar will fall without a parachute', Look What He Said Now?
Necmettin Batırel had previously argued that the dollar would fall without a parachute. When the dollar exceeded the psychological threshold of 10 TL, all eyes are now turned to Necmettin Batırel.


 

yalimart

The Carnwath Massive
Watch The Lira Now
A friend of mine who just happens to be a retired international banking risk manager were chatting about the usual crap, wine and fine dining etc and the Turkish economy cropped up, I said it was tanking fast, he didn't disagree, however he pointed out that over 50% of deposits in Turkish banks are foreign currency deposits, I think he was pointing out that not everyone will get hurt with the rapid devaluation of the TL, at that we went back to chatting about fine wines such as Thunderbird etc.
 

driver52

Member
Watch The Lira Now
he pointed out that over 50% of deposits in Turkish banks are foreign currency deposits
that doesn't make any sense, they must be thick as sh!t holding dosh in Turkey with a loon in control lol
As the guy above says, out of control inflation only ever favours the rich cos it erodes any debts and things like house prices and stock markets go into warp speed.....
it's no good telling the plebs to eat brioche when they can't even afford a baguette :LOL:
 

enoch

Member
Top Poster Of Month
Watch The Lira Now
that doesn't make any sense, they must be thick as sh!t holding dosh in Turkey with a loon in control lol
As the guy above says, out of control inflation only ever favours the rich cos it erodes any debts and things like house prices and stock markets go into warp speed.....
it's no good telling the plebs to eat brioche when they can't even afford a baguette :LOL:
Yalimart is meaning 50%of investeres have foreign currency it's not in lira so the exchange rate going up compensate for the inflation increase.
 

Jaycey

African Refugee
Watch The Lira Now
Yalimart is meaning 50%of investeres have foreign currency it's not in lira so the exchange rate going up compensate for the inflation increase.

50% of expats may have foreign currency deposits in Turkey (not a good idea) but I very much doubt if 50% of Turks do.
 

Camden

Member
Watch The Lira Now
Turkish Cypriots crushed by falling Lira

Economist Mertkan Hamit told the Financial Mirror that Turkish Cypriots are in for a rough ride.

Despite sharing the same currency as Turkey, Turkish Cypriots will have a harder time as they struggle with ever-growing inflation due to their inability to adopt fiscal measures.

“One of the fundamental reasons why Turkish Cypriots are feeling this crisis much more than in Turkey is because of the economic conditions that we have.

“Since we all know that the Turkish Cypriot side has restrictive economic engagement with the rest of the world, economic isolation to export goods created an economy that entirely relies on imports,” said Hamit.

“That being the case and since the trade is in dollars and the economy of the community is dependent on imports, the prices of daily goods are constantly rising. This triggers inflation.”

He said that borrowing in the Turkish Cypriot community is also mostly conducted in a foreign currency.

“Because investments such as buying a home or a car are of high value, banking institutions do not trust the Turkish lira, so lending agreements are carried out in British Pounds, dollars or euros”.


Cyprus Lira crash: north pays price of ‘going with Turkey’

 

yalimart

The Carnwath Massive
Watch The Lira Now
50% of expats may have foreign currency deposits in Turkey (not a good idea) but I very much doubt if 50% of Turks do.
No mention of who had the FC holdings but I would imagine it would be those trading with outside countries.
You will no doubt be correct that 50% of Turks don't have FC deposits, however the 50% FC holding may well be held by Turks.
 
Last edited:

enoch

Member
Top Poster Of Month
Watch The Lira Now
Just reading a turkish economics adviser is saying he can see the dollar hitting 17 tl fast if policy does not change.
 

Latest Posts

Top Bottom