A thread: Learnings on 70% yoy #inflation here in Turkey where I am spending time - 1/11
Quote from a local friend “Everyone loses sense of money. We don’t know the prices. We shoot blind” - 2/11
As soon as people have money they buy something. Anything. Food, non perishables, white goods, etc - 3/11
The main safe havens are perceived to be gold, crypto, dollars and especially real estate - 4/11
Real estate prices have actually been going up in USD terms. People pool their savings together and buy apartments if they can’t afford one on their own - 5/11
I recently bought an apartment that had 7 (!) owners on the title deed. Needless to say it was crowded when we signed at the title deed office 😯 - 6/11
People dislike America, but like USDs - 7/11
People who earn foreign currency live like kings. Local workers earning Liras suffer - 8/11
Inflation adds daily anxiety to people’s lives. Not knowing what you will be able to afford is extremely stressful - 9/11
No more fancy menus in restaurants. Such price stickers are the norm, and QR code menus - 10/11 
Come to Turkey on vacation. It’s great geoarbitrage. You’ll have a great experience at an affordable price, and you’ll help locals by supporting local businesses. 11/11
• • •
Missing some Tweet in this thread? You can try to
force a refresh
