Posted on 08/07/2018 8:10:02 PM PDT by 11th_VA
-For the year, the Turkish lira is down nearly 40 percent against the U.S. dollar.
-The iShares MSCI Turkey exchange-traded fund (TUR), tracking Turkish stocks, is down 39 percent year to date.
-Turkey's 10-year bond fell to a record low on Tuesday, pushing its yield up to around 20 percent.
(Excerpt) Read more at cnbc.com ...
Whoa, bummer.
Guys, look - don’t poke the eagle. Laugh at him, print bad things about him, but don’t poke him. Don’t poke the eagle.
Just give us back our pastor. Not hard, just give him to us.
I think that the recently announced American sanctions on two Turkish officials over the Pastor Brunson case, were meant to show Turkey that President Trump could lay sanctions on them if he wants - regardless of the facts that they are in NATO, or that Trump is under fire at home.
One big reason we need that credible threat, is to keep Turkey from busting sanctions on Iran - especially now that their economy is hard up for a boost. Iran will (have to) start offering bigger and bigger bribes - strong measures are needed to restrain Erdogan’s huge appetite for corruption.
I bet they miss the days when disrespecting Obama was lucrative.
Mess with the bull ya get the horns.
That’s just too bad.
Currency down 40%, stock market down 40% - in 7 months.
In dollar adjusted terms, it was the second worst stock market performance on Earth this year, after Venezuela. You would have done better investing in Zimbabwe.
This terrible performance was baked into cake by the policies of President Erdogan, long before there was any hint of US sanctions. Now that their markets, currency and economy are going into a tailspin, they especially cannot afford real sanctions.
US sanctions against “Turkey” so far, were just a tiny warning shot (against two individuals) - but there is a threat of significant sanctions, if the don’t release their hostage, Pastor Brunson.
Trump and/or his people are brilliant. They know we can do far more damage using the might of our economy (and threats to theirs) than by using cruise missiles. True at least for somewhat functioning countries.
We won’t be happy until the house is in the USA.
If America stood up for Christians during the last four Presidents, well, I don’t recall us doing it since Reagan. I’m very proud of Trump.
Good points!
“I think... It’s not like the U.S. sees this as a pressing political matter, it just can’t seem to be backing down to these hostage tactics.” said Marcus Chenevix, an analyst at TS Lombard.
One man’s opinion, who is focused on markets.
Meanwhile, in the region, a once in a generation struggle is coming to a head against the most anti-American regime on Earth, the source of the greatest threat to our allies in the region - Iran.
These “warning shot” sanctions were placed on Turkey, just days before the Iran sanctions went into effect. I don’t think its a coincidence. Turkey shares a border with Iran, has engaged in sanctions busting smuggling with Iran before, and is one of three countries with the means to significantly help bust sanctions (along with China and Pakistan). The Saudis pretty much have Pakistan on a leash, so President Trump needs to wave a big enough stick to deter Turkey and China (and the EU, which is a different story).
Don’t bring a Turkey to an Eagle fight.
No problem. Non-observant Episcopalian, suck at turning the other cheek.
Too bad this didn’t all happen BEFORE the election. Hopefully someone will at least be wiling to take him out on live TV.
Awesome! Their stupid leader did not choose wisely in opposing Trump.
Now that sh*thole country can feel the pain.
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