Trump Turns Turkey Dumpster Fire Into Five-Alarm Blaze With Tariffs Tweet

Trump Turns Turkey Dumpster Fire Into Five-Alarm Blaze With Tariffs Tweet

On Friday, the Turkish lira collapsed more than 13% in what certainly looks like the final leg lower on the way to capital controls or an IMF SOS. Barring either of those outcomes and assuming the central bank is hamstrung in their capacity to deliver a dramatic rate hike, an outright collapse in the Turkish economy appears to be in the cards. This story has been developing all year long but came to a head late last month when negotiations between Washington and Ankara for the release of detain
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