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Turkish Economy IS in Crisis | Real Turkey

crisis

 

I’ve predicted in countless videos that a deep crisis is awaiting the Turkish economy.  As foreign commentators applaud its resilience I shall now explain WHY the crisis has already started.

 

  • Traditional definition of “crisis”: Bank failures, debt defaults, currency shocks. That is all foreign investors and commentators care about.

 

  • How about the Turkish people? How do they feel?  What do they think?

 

  • Broad based unemployment is over 25%. Youth unemployment is 25%, too. Most young Turks want to leave the country asap.

 

  • World Bank: Turkish poverty at a 10 year high

 

  • Fitch: 15% of bank loans dead or in a coma.

 

  • Surveys: 88% of Turks think the economy is in crisis

 

  • Surveys: The economy is in bad shape and 55% expect it to deteriorate further in the next 12 months.

 

  • A majority think Erdogan can’t govern the country effectively.

 

  • THIS, dear viewers, IS the definition of an economy in CRISIS.

 

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