prof. Dr. Özgür Demirtaş shared his advice for small investors at a recent Twitter meeting. The agenda of the meeting focused on Türkiye’s inflation and economy. The closely followed economist gives critical warnings to those who want to ‘save money’.
Özgür Demirtaş says that he has melted all his options.
The main topic of the meeting, which lasted approximately 1.5 hours, was inflation and the cost of living it caused. Özgür Demirtaş, emphasizing that all investment instruments have melted away, began his statements as follows:
Let me explain bro; Look, someone has 100 thousand TL in their pocket, now this person is looking and says, “What if I deposit this hundred thousand TL, it will be 130,000 TL in a year”. Well, 100 thousand TL of toilet paper becomes 170 thousand TL. Detergent is 180 thousand TL. The movie ticket costs 200 thousand TL. In other words, if I deposit my money, I melt, if I deposit it in dollars, the dollar is suppressed.
Stock market, cryptocurrencies, stocks, gold, bonds etc. investment succumbs to inflation. Small investors find it difficult to make the right decision in this environment. Özgür Demirtaş stated that at this point, the most logical move of someone who wants to invest would be to ‘consume’.
According to Özgür Demirtaş, the most logical move of a person with 100 thousand liras
Demirtaş stated that even if a person with 100 thousand lira deposits this money, he will lose it due to inflation, even if he invests in dollars, the dollar will be suppressed and it may be risky to enter the stock market. However, those who want to invest emphasize that their only option is to consume. At this point, he said, it is not possible to save money, especially in an environment of high inflation.
The famous economist says that in an environment where prices are constantly increasing, the best choice is ‘right consumption’. He also recommended that individuals act wisely in their daily shopping and follow prices.
Türkiye inflation data
According to the data of the Turkish Statistical Institute, in March 2023, the Consumer Price Index (CPI) increased by 50.51% compared to the same month of the previous year. This figure came at a time when Turkey was struggling with high inflation.
This increase in inflation rates was mainly due to the rise in food and energy prices. The high course of inflation in the Turkish economy has reduced the purchasing power of consumers, lowering their living standards and adversely affected many sectors.
cryptocoin.com You can take a look at Özgür Demirtaş’s other comments, which we have quoted as In part of the meeting, it was stated that another meeting will be held in the coming weeks on crypto money investments. Demirtaş says that like other markets, cryptocurrencies succumb to inflation. The closely followed economist says the most logical move in this environment is ‘right consumption’.
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