Turkey’s economy looks like it’s headed for a big crash

... Erdogan seems no less committed to his wacky theories today than he did before the election. He just appointed his son-in-law to run the country’s finance and treasury departments — what sure looks like a rubber stamp in human form — and, after giving himself the power to choose the country’s top central banker, he “predicted” that “in the period ahead I believe that we will see that interest rates also fall.” It was enough to send the Turkish currency, the lira, down another 6.5 percent this week alone to bring it 23.7 percent lower than it was at the start of February.

An economy, like a mind, is a terrible thing to lose. Erdogan appears well on his way to losing both.

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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