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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