In this video we go over the currently unfolding hyperinflation in Turkey. Inflation has become a big topic of conversation across the world with central banks printing trillions of dollars to support their economies throughout the pandemic. Twitter and Square founder Jack Dorsey has recently predicted the US will experience hyperinflation. While this is a theoretical argument, its useful to look at Turkey as an example of what happens when a government leaves the money printer on for too long.
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#WallStreetMillenial #hyperinflation
Music courtesy of:
––––––––––––––––––––––––––––––
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Music promoted by Audio Library https://youtu.be/b6jK2t3lcRs
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If they want low interest rates they should raise rates. Higher rates would bring inflation down and thus also (nominal) interest rates down due to Fisher effect. Cutting rates only leads to higher rates.
Good video!!! There are a few other differences between the US and Turkey you did not mention that will also help prevent hyperinflation: More consistent reopening from covid, more people working (most women don't work in Turkey), technology is lacking in Turkey compared to US.
All those work as deflationary forces and help keep cost of goods from skyrocketing. Really enjoyed this video though!
WSM – please continue bringing this amazing content once or twice a week. i think daily is too much and wil cause burnout.
"if a country spending so much on infrastructure project, that means it hiding weak economy and corruption. And will collapse soon"
– a muslim social scientist, back before money printing introduced
Independence of the fed is a myth
Ben Bernanke years later admitted that he was part of the administration when he was at the Fed.
Jerome Powell will not increase interest rates because they can't afford it because us debts are too large.
Jerome Powell wants to keep his job so he's going to do the easy thing so Biden won't replace him with someone else.
This is clearly the most biased American propaganda I think I've ever seen. Worse than CNN and Fox News put together.
So this is why there's so much Turkish produce in Europe. Never seen so much, the prices are good and so is the quality, specifically canned foods. Logic behind it is that wages are paid in lira while goods are purchased in Euro.
Get a new microphone. Yours sounds like crap and makes the production quality seem amateurish.
USA has taken advantage of the luxury to print paper dollars but the rest of the countries don’t have this unique opportunity. Gold or dollars used to be safe backing for all currencies.
But the dollars have lost the value.
Turkey is a target of the Western bankers who want to destabilize Turkey.
Ha. 20% inflation and you shout economic collapse. Come here to Zimbabwe, we still kicking
20% is not hyperinflation. It's high inflation, but not hyperinflation. Hyperinflation starts at 50%.
but again turkey will ilegaly occupy north chiprys and north syria
You'd be a fool to think this was purely Erdogan's work. He's clearly being advised on monetary policy by the Central Bank of Turkey. It is a criminal devaluation of the countries economy. No wonder crypto exposure is huge in Turkey!
No it’s a dream would be interested in a South African video and why they have experienced the same issues
I from turkey soon here erdogan sharia islamic alahu ekber laws!!! massalah
this shows you cant legislate your way out of a recession, some one have to actually produce the goods and service to temper inflation in the real term.
Higher Import costs from a falling exchange rate from printing money will rapidly fuel inflation.
Realite is inflation rate of Turkey is more than 45%.
Did you forget that Turkey is a Muslim country and Islam forbids the consumption of pork!! 🐷🤔🐷🐖😁😁
Are you really saying that the Fed in the USA is totally independent from the corporate and political framework ? That statement is fuelled by the propaganda machine that gullible imbeciles are prepared to believe!!
What is becoming more and more obvious is that the Fed is a fraudulent organization aimed at protecting and rewarding the banks and the corporations with their agenda aiming at transferring wealth from the middle class to the elitist class as exemplified by its unwillingness to raise interest rates to fight the increasingly dangerous inflationary spiral in order to protect the value of assets on the stock market.
This is not a good video. It's very very loosely informed and obviously biased. For an Asia Minor country Turkey is doing well for itself.
Erdogan has also banned the ambassador from Wall Street Millenial
A NATION PERSONA NON GROTTA..
PEOPLE WITHOUT GRACE…
TURKEY 🇹🇷
Central banks don’t care either. Straight evil money printers who screw the world over through fiat counterfeit. The FED is a Ponzi scheme.
I can’t remember who said this but they said, ‘’Inflation is a tax on the poor / people at the bottom’’ as they’re the last people to find out that prices have increased. Those at the top manage to cash out before the effects are fully felt’
England does not have ambassadors, in the same way that Ohio does not. England is a constituent part of the United Kingdom, which has ambassadors.
*Turkey has high inflation
Greece: we're the same after all…
In Turkish the letter "C" is spelled "J" as in "job".
Cathy Wooks from Ark Invest seems to think that this inflation is transitory
The problem is that Turkish govt is more focused on integrating religion with govt than actually getting shit done to improve the economy. Religion should always be separate from institution of govt and economy should always be free with minor degree of govt control. This model has worked all across western world. Erdogan is more focused on becoming sultan than getting his shit together and doing something for turkey. Turkey had the potential to become the next Germany in terms of economy.
Turkey will be the next country to adopt crypto as a currency, reversing their current ban. Basically they’re being forced to turn to it because of their gay lira
Great video…
Even more great a YouTube video mentioned the virus that shall not be named less he wants deletion 🤪
God Bless Erdogan for standing up to those damn leftist.
Great video. Wouldn't mind if you stopped touching the microphone while you speak though. Can hear taps on it with either your mouth or hand. It's a little distracting.
My guy, drop your venmo. I will buy you a mic for gods sake.
Most Turkish restaurant owners wouldn't be all that concerned about the price of pork 😉