Turkey's Goose Is Getting Cooked

 I hope we all pay some attention here. This is about Turkey - the country and not the bird.

• They say the inflation level in Turkey is running at 70% per annum !! 
• And food prices have increased by at least 100%. 

The Covid and now the Ukrainian situation have made things worse but Turkey has actually been in deep sh_t long before this, ever since Khalifah Erdogan took over the country.

  

 To say their goose is cooked basically means they are in deep sh_t

The Turkish currency the lira has been going down for over TEN YEARS straight. And now it is approaching free fall. 

Here are 5 year and 30 day charts of the Turkish Lira vs US$ exchange rate. The 10 year chart looks worse. Their currency is just going down, down, down.

The Covid and now Ukraine are actually helping Erdogan. He can blame both for the crashing economy.

Here is a short video about the Turkish economy:

And here is a collection of thoughts in the western media about Turkey. I have truncated it.

Playing games in NATO, Turkey eyes its role in a new world order

James M. Dorsey May 26    

• Turkey's high-stakes poker
• Turkey would not meet NATO's democracy requirements today
• Turkey under Erdogan no longer subscribes to NATO's values 
• Perhaps time for expulsion of Turkey

• yet another Middle Eastern powder keg
• Turkey spat with NATO over Sweden, Finland membership  
• Erdogan widened dispute in NATO over Greece

Turks hinder support for Kurds 
Turkey inflation 70%, Kurd card benefits Erdogan domestically
Erdogan benefits politically when he takes on Kurds  

Erdogan plans military incursion against Kurds in Syria

• extend Turkish control in Syria to 30-km along border
• Turkey home to 16 million Kurds
• 2019 Sweden, Finland arms embargo on Turkey after Syria incursion 
• Turkey’s three-year-old military presence in Syria 
• Trump threatened to “destroy and obliterate” Turk economy
• US warned renewed incursion in Syria “undermine regional stability”
• Turkey acquired Russia's S-400 anti-missile system
• US expelled Turkey from F-35 program in response

Dr. James M. Dorsey is an award-winning journalist and scholar, a Senior Fellow at the National University of Singapore’s Middle East Institute 

My comments:

What can I say - it is another "islamic" country. Despite all this crap happening in their country they were/are fighting wars in Libya, in Syria, in Iraq and in Azerbaijan. They actually sent their troops there. 

Turkey sells that Bayraktar drone to Ukraine which is being used against Russian forces. At the same time they have bought the S400 surface to air missiles from Russia.   

Erdogan makes things so complicated. 
Their currency is crashing even more by the day. 
Lets see who or what cracks first.  

The views expressed are those of the writer and do not necessarily reflect those of MMKtT.