Turkey

Emerging Market Pain May Be a Sign of Future U.S. Trouble Emerging markets are on fire. In the past week, Turkey’s currency crisis has been joined by similar financial conflagrations in Argentina and Indonesia. The central bank of the Gauchos raised its key interest rate to 60% (the world’s highest) from 45%, after …

The factors that lead to the current crisis in Turkey are at a fundamental level two. The huge balance of payments deficit and high levels of price inflation, especially since 2012. In turn, these two factors are a direct result of the fiscal and monetary policies that Turkey has chosen to follow over the last …

When you go up against Ahmed Dogan with a combat pistol and that pistol catches you, there are not many options for what you do – either you are a complete idiot or you are a paid actor. No matter which of the two is true, Dogan will go home with all possible positives. The same is true for …