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In a speech to his ruling party members, Erdogan said he knows he's taking a big risk, but he believes it will pay off.
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He believes the opposite, that reducing interest rates is the path to lower prices. Erdogan, however, believes that's a myth created by a group he calls the interest rate lobby.
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KENYON: Most economists will tell you that if you want to fight inflation, raising interest rates is usually a good place to start. I expect it to go over 100 by early next year. If there used to be 20 people coming in, now maybe it's 10. SEVKET YILDIRM: (Through interpreter) Yes, business is bad. KENYON: As butcher Sevket Yildirm saws a leg of lamb into chunks for a customer's soup pot, he says every time the rates get cut, customers stop showing up. Istanbul shop owners and managers say the price hikes are by now familiar but no less painful. President Recep Tayyip Erdogan had already sacked a string of finance and banking officials well before the Turkish lira hit an all-time low of nearly 14 to the U.S. PETER KENYON, BYLINE: In the latest negative indicator, Turkey's finance minister quit, causing some to wonder if he left because he was about to be fired. NPR's Peter Kenyon has been speaking to people in Istanbul who say they don't know if the government can turn things around. The Turkish lira has plunged to record lows, having lost more than 40% of its value so far this year, and prices are rising. It absorbs me and I wonder if new cultural currents could emerge from this deficiency.In Turkey, concerns are growing over the state of the economy and the response by the country's president. Among these nostalgic clips is an interview from his 1985 documentary Tokyo Melody, in which he muses on what he finds interesting in a rapidly changing Japan: “I’m concerned by a deficient technology. Lawrence, and perform as part of the hugely influential Japanese techno-pop band Yellow Magic Orchestra. We see much younger versions of him act alongside David Bowie in Merry Christmas, Mr. Woven throughout the documentary are scenes from the films he has scored, as well as footage from his live performances. Listening to the rain with his head in a bucket. He listens to his environment with a playful curiosity, endlessly experimenting with whatever he can find. He improvises on a track playing in the background by running a violin bow across a hi-hat cymbal to unnerving effect. In the film, we see his restless creative energy at work, as he edits and adds to tracks while sitting on an exercise ball in his home studio. This sort of spontaneous fluidity is what has driven most of the composer’s work throughout his decades-long career. “This has happened for the first time in my life.” “He tried to match his film to my music, but I always try to match my music to films,” Sakamoto explained, laughing. Schible spoke of the unexpected surprises of working with Sakamoto, who thrives on improvisation: “Whenever I would have a plan, he would utterly destroy everything I tried to do. My music was too serious for his films”), to being featured on the soundtrack for Call Me By Your Name by director Luca Guadagnino, whom he now considers a friend (“He uses music very carefully, with a lot of respect”). Photo courtesy of MUBI.Īt the Q&A following Coda’s Tribeca Film Festival premiere, Sakamoto sat down with Schible to discuss everything from a meeting with the late Studio Ghibli co-founder Isao Takahata (“He fired me. “I wanted this film to explore how Ryuichi’s awareness of crises had developed and how it has brought change to his musical expression.” Sakamoto surveys the damage at Fukushima. “Ultimately, Ryuichi’s composing process became our guide and brought us to the unique form that the film organically acquired,” he recalled. His approach, director Stephen Nomura Schible said, was a major influence on the film.
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His bout with cancer was the longest he had ever gone without making music just over a year after his diagnosis, he returned to work, this time on the score for Alejandro Iñárritu’s The Revenant. A film five years in the making, it follows the Oscar-winning composer and activist as he visits the Fukushima nuclear reactor following the devastating 2011 earthquake and tsunami, then through his 2014 diagnosis with stage three throat cancer, which initially left the direction of the documentary in uncertainty.īut Sakamoto responds to the various crises in his life with a swift matter-of-factness - this is just how things must be done. Ryuichi Sakamoto: Coda is a documentary as composed and improvisational as its subject.