Striking assessment from famous economics professor
Prof. Dr. Özgür Demirtaş shared a noteworthy assessment on his social media account regarding the interest rates, which have risen to 40 percent following consecutive hikes after the elections.
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Explaining his thoughts on interest rate hikes, Demirtaş stated that these decisions will hurt; and as a result, zombie companies will go bankrupt, unemployment will rise, and money will become scarce. Demirtaş said, "But there is no point in being angry at the interest rate hike. The interest rate hike is a consequence! It is a result of the mistakes we made in the past... We brought this upon ourselves."
Demirtaş touched upon the loans taken out when interest rates were lowered below inflation and warned that lessons must be learned from the mistake, lamenting: "I warned a thousand times, I wrote that interest rates would eventually have to rise. I begged them not to do it... Everyone, including my followers with only a primary school education, understood. The politicians did not... Anyway, it is better to turn back from a mistake whenever possible..."
Demirtaş said the following:
"Interest rate hikes will hurt us.
Zombie companies will go bankrupt
Unemployment will rise
Money will be hard to find
But there is no point in getting angry at the interest rate hike. The interest rate hike is a RESULT! It is a result of the mistakes we made in the past... We brought this upon ourselves.
We smoked, we got cancer. Now we are receiving CHEMOTHERAPY.
Smoking = Artificially lowering interest rates by decree, in other words, the 'Nas' Economic Model.
Cancer = Inflation
Chemotherapy = Rising Interest Rates
Chemotherapy makes our hair fall out and breaks our teeth. But chemotherapy is a result; the cause is always those times we took a few puffs of that cigarette!
It was fine when we were lowering interest rates below inflation and taking out free loans... Now we are learning that there is no such thing as 'free,' and that free cheese is only found in a mousetrap.
No crying!
Learn from your mistakes, at least don't make them again...
I warned you a thousand times, I wrote that interest rates would eventually have to rise. I begged you not to do it... Everyone, including my followers with only a primary school education, understood. The politicians did not... Anyway, it is better to turn back from a mistake whenever you can...