‘Shame On You’! Erdogan Blasts Trump, U.S. In Characteristically Absurd Saturday Speech
What’s going to be a real “shame” is if there’s not some resolution to this situation by Monday.
What’s going to be a real “shame” is if there’s not some resolution to this situation by Monday.
“On July 15, 2016, Turkey came under attack by members of a shadowy group led by Fethullah Gulen, who leads his organization, officially described by my government as Fethullah Terrorist Organization, from a compound in rural Pennsylvania.”
“…markets need to be prepared for a hard landing in the economy, corporate defaults on foreign currency debt, and possible bank failures.”
Come hell or high sanctions.
After weeks spent teetering on the brink, the Turkish lira collapsed on Friday.
“Don’t be afraid at all, it will all pass.”
How to trigger a currency crisis in five months.
“Is the lira collapse over? Doubtful.”
Trade, Japan, Turkey, rubles and so much more.
“We were patient until last night.”
Erdogan isn’t going to like this.
I guess we can all hope that Trump’s affinity for autocrats wins the day.
Accepting idiosyncratic, country-specific risk is part and parcel of investing in emerging markets, but this has gone well beyond that.
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