Nobel Prize in Economics To Erdogan?

        I thought a little black humor would be entertaining this first day of winter, 2021.  Yes, yesterday was the winter solstice in the northern hemisphere, or the top half of Mother Earth, or the half that counts, or the half that teeters because it is weighed down by too many humans.  So, Turkey, presided over the delusional President Erdogan, has recovered some of the value of its currency, the Turkish Lira.  The local Lira has been under some recent pressure-we call it in the West inflation.  It occurs when prices for goods increase rapidly, causing anxiety among the population.

       Mr. Erdogan has been a politician for many years, banking on the nation's acceptance of a secular government following in the footsteps of its predecessor government.  However, Mr. Erdogan has fallen under the influence of conservatives, often commenting on his own muslim faith, and his adherence to its precepts.  One of which prevents faithful muslims from charging interest on borrowed funds.  It's not a huge step from that position to the current government position of Turkey to lower interest rates, despite the obvious conflict with accepted economic theory which holds that government central banks should raise interest rates to curb inflation.  No, says Mr. E.  : lower them to boost the creation of jobs and the production of more goods and services.  Poor Ratrap Erdogan.  Perhaps he's smoking hashish, or drinking too much coffee, or staying up watching Late Night, or maybe too much soaking in the hot tub.  Whatever he's doing, his thinking is warped and it has hastened the country's sharp decline, and has permanently damaged his reputation and his ability to govern his country.  Now perhaps he has an unknown strategy that will reveal itself soon.  Perhaps he's thinking long term: look at the just announced plan for the citizens:

      One can deposit funds in any bank, choosing a term for locking in a guaranteed rate of interest: 3 mos., 6 mos., nine, or 12 months with a rate set by the central bank.  At the end of the term, if the Lira value falls, the government would make up the difference by depositing the amount in the account holders name. The government has not indicated where the funds would come from that would be paid out.   Ha ha, ha, ha: aren't governments and politicians wonderful?  They can say anything they want and have no accountability, unless booted out of office after the fact.

      Old Ratrap Erdogan fits right in with the rest of the world's liars and producers of lies and instability.  He fits right in with the Orange Baboon recently ejected from the White House.  Old Ratrap won't be around much longer as the citizens can only take so much B.S. from a sitting president.   Look at Chile: the people just elected a 35 year old former protester as president.  We love to see these upstarts have a chance to derail a government. Keep watching Turkey and Chile.  (No, it's not a recipe for Thanksgiving).