Regulation regarding credit cards

NEW REGULATION REGARDING CREDIT CARDS

WHAT DOES IT BRING, WHAT DOES IT TAKE AWAY? -1-

No matter what regulation is made regarding credit cards, nothing will change. The economic crisis will only increase and become more rampant. The new regulation regarding credit cards will bring nothing. But it will take away a lot.

The working class and the strata that make up the working class will become increasingly impoverished in the coming years with this economic system and this trajectory. The gap between classes will deepen further.

The working class must rid itself as soon as possible of the complacency it is in due to the narcotic effect of neoliberalism.

Honestly, let no one take offense, but we can only get out of this mess through collectivism, that is, socialism. In other words, the only solution is revolution.

First, I tried to make a general assessment of the economy as far as I could grasp it myself. In subsequent articles, I will present my assessments regarding credit cards. Evaluating credit cards within the context of economic integrity is the only way to a solution.

Korkut Boratav says: There is no economic crisis; they are taking from the poor and giving to the rich. (I utilized the interview with Korkut Boratav at https:www.gazeteduvar.com.tr/yazar/irfan-aktan.)

According to Turkey's most important economist, Prof. Dr. Korkut Boratav, the Turkish economy did not experience a crisis during the pandemic; it grew. However, the government gave the poor's share to the rich. According to Boratav, who notes that the IMF projects 3.3% growth for Turkey until 2026, the current picture will not change even if the AKP leaves, unless steps of a "revolutionary" nature are taken.

Yes. That is the essence of the matter. In this economic picture, whoever comes to power will become the AKP. They will turn into the AKP.

Turkey grew during the pandemic, but poverty increased. If Turkey grew, where did this money go?

“IMF statistics show that during the pandemic, the budget in Turkey was withheld from the laborers. Mandatory transfers in favor of wage earners were not met from the budget, but from the Unemployment Insurance Fund, which had already been accumulated. In contrast, according to international measurements, Turkey ranks first in the pace of credit growth.”

So, who are these loans going to? Who would they go to? “They are taking from the poor and giving to the rich.” Because operations are being carried out to save indebted capital circles. The money is going to contractors and to the credit financing of new investments.

“National income has grown by an average of around 5 percent each year for two years. However, far from this growth reflecting on the lower classes, as reflected in daily observations and statistics, a very severe impoverishment and unemployment are being experienced. How is this possible! This can only be possible if a national income that grew despite the pandemic is taken from the laborers and the poor and transferred to other sources.”

In other words, there is enough bread in the country to feed everyone, but a certain minority is eating the bread of the majority...

The AKP is keeping the tap tight to keep the bourgeoisie comfortable.

Since it is a government based on the "gang of five" and similar capital groups, it thinks it can manage the people struggling with hunger somehow. That is why it continues to keep the tap tight in the budget to keep the bourgeoisie comfortable.

“Which sectors' companies are the most fragile?

Construction and energy. The gang of five and their cronies are focused here. Therefore, the water entering the pool goes only to the capital circles being looked after, to the corner held by the elite bourgeoisie, while the poor are left out in the cold.”

But the worsening poverty is also shaking the government's seat...

Yes, but because they look after their own cronies, they think that if they are dragged into a major debt crisis, everything will collapse. Right now, they are ultimately concerned with saving those within their interest partnerships, their cronies; as for what comes after, they say God is merciful.

Professor Korkut states a very important goal:

“What we socialists should promise the workers and peasants is this: I can carry out a major operation at the start and have a portion, or even all, of their debts wiped out. If we are doing full socialism, we must wipe them all out. At the same time, we will increase employment. But you, too, will only consume as much as your wage. The banking system will not undertake the financing of your consumption.”

The masses that the AKP has addicted to the poison of debt can only be saved through revolution.

But then the CHP showed in advance that it would not take this path by bringing in Kemal Derviş. Ultimately, when high capital movements were added on top of zero growth, the AKP lived its own golden age in its first five years. The AKP era also gifted something to Turkey's working classes: “If you manage to get into debt, I will increase your consumption, oh poor people!” The masses that the AKP has addicted to the poison of debt can only be saved through revolution. A change in class power, in which other factors participate, can save these classes from the drug habits of the past period.

The concern regarding the gang of five is ahead of all concerns.

“The weight of September 12 was also combined with the terror applied against the left, and the economic crisis accompanied this. But labor had become quite strong, and they were able to crush this power step by step over eight years. Even though the burden of the pandemic was added to the current severe impoverishment, they did not give up on prioritizing their cronies. The approach of 'let companies not go bankrupt so that banks do not go bankrupt and a foreign debt crisis does not occur' is more rational than the approach of 'let the gang of five not be harmed.' But it appears that the concern regarding the gang of five is ahead of all concerns.”

Central Bank of the Republic of Turkey (TCMB) Governor Fatih Karahan stated that they are monitoring the rise in credit card expenditures and that they have work underway on this issue. Karahan said they believe a regulation should be made regarding credit cards.

He said it, but this is not a solution. The goal is to curb demand, primarily to transfer credit to energy and construction companies. It is to transfer resources. It is to take from the rich and give to the poor. This is the goal, this is the path. This path will lead our country to greater crises.

“Without a revolutionary transformation, the social crisis will not end. It is still early, but for our people who are overwhelmed by the crisis, this is the only way to salvation. To act together, it is necessary to think openly, discuss methods, explain, and organize as much as possible from now on.”