The economic crisis in Turkey, spurred on by President Erdogan's insistence on lowering interest rates to fight inflation, is spiraling out of control. Inflation is now over 47% annually, the power grid is at risk of failing, industrial users have had their power cut off, and banks are being threatened with fines if they don't convince depositors to trade Dollars and Euros for the failing Lira.

Chapters:
0:00 Intro
1:50 Turkey Tries to Boost the Lira
5:53 Turkish Manufacturers Shut Down Production Due to Power Cuts
8:57 Erdogan's KKM Scheme to Prop Up The Lira at Citizen's Expense
14:52 Long Story Short

#Turkey #Inflation #MelonHead

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