Inflation in Turkey Hits 73%, Erdogan Keeps Making it Worse!

Inflation in Turkey has now reached a staggering 73.5% as Turkey's economically illiterate President Recep Tayyip Erdogan insists that lowering interest rates is the way to fight inflation (it's not). The ill-conceived KKM scheme to prop up the Lira has failed and served only to bleed the Turkish people of their dollar savings. Now the Turkish Central Bank reserves have been drained as they sell off their citizens' dollars to prop up the Lira and there are $30 billion worth of KKM deposits set to mature in the next few months. The wealth of an entire nation is going up in smoke!

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#Turkey #Inflaiton #melonhead #KKM