From the moment credit agencies upgraded Turkey's rating, the stock market crashed. In the past year, when real inflation hovered around 80 percent, and last year, when it exceeded 100 percent, most stock prices fell by more than 50 percent. However, because the index was adjusted by a few stocks, the composite index gained in Turkish Lira terms. When you factor in the devaluation, the devastating loss is understandable. Brokers are at a loss, so they can't sell; their money is being used as interest-free loans. Unbelievable things are happening, but I can't write about it because there's no freedom of expression. Was it right to sell a 10 percent stake in the stock market to Qatar? Is the Wealth Fund beneficial for investors? I have the answers to these questions, but I also have the intellect; I can imagine what would happen if I did.
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Inflation is a hidden tax, and most economists don't understand it. Let me explain: You have 100 lira in your wallet, and a year later, ...
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