Guess who is finally joining the club of third world countries?

Thanks to yet another iron hand plastic brain incompetent leader the once great power did it.
They are now heading for the club of third world countries :)

Be careful who you vote for. The best of the best is "boring".
"I will change everything" "I am strong willed" has not worked in 100.000 years yet "people" still fall for it XD

We are going to have to bail them out, and who is going to pay? The same as usual...
The USA represent 16.52% of the IMF, while europe's major economies (Germany UK France Italy) represent 16.4%. 33% for those alone.

All of this is probably not good for the west either.

project-syndicate.org/commentary/turkey-broken-relationship-with-the-west-by-richard-n--haass-2018-08

piie.com/blogs/realtime-economic-issues-watch/turkey-faces-its-crisis-shaky-leadership-and-few-friends

Strong hand and strong will president that we all regularly see in the news forced every one to take big loans, in particular grab money from foreign countries (preferably allies), to push the economy up and make the country great again (where did I hear that again?).
Of course these idiotic policies and whole way of governing obliterated the country.

But I am not here to recommend shorting the Turkey economy or anything. I personally prefer to stay away here.
Unless you know everything about it - and even then it seems risky - there is no point getting involved.

Trading is about making plenty of small safe trades, while knowing the probabilities are in your favor.
Not about gambling.
And what says it cannot move 30% in a day again? Enjoy that slippage.

George Soros made (AND LOST) billions going against countries like this, but now it is probabily too late for the Lira.
Maybe it is all a trap and it will bounce back?

I am not touching this. No thanks.

If Turkey gets really, and I mean REALLY, abandonned (investor-wise), it could become undervalued.
On an investment perspective this might get interesting...