After decades of stagnant growth, President Recep Tayyip Erdogan’s ruling AKP party turned around Turkey’s economy in the early 2000s. It was a boom underscored by easy borrowing that prioritised loans to the construction sector over capital intensive areas like manufacturing and IT development. ‘The administration knew that a slowdown was on the cards, and[that’s]why…
Everybody understands the importance of the dollar system as the Achilles heel for the US empire yet oddly, when analysing imperial action of Warshington of the last decades, the focus is usually on ideologies like Zionism or American exceptionalism, or on at most partial aspects such as fossil fuels and pipelines. Another focus, favored mainly…
Lost in all of the geopolitical noise are some basic concepts of economics. It’s no secret that China’s economy has been built by their openly mercantilist economic policies. Mercantilism is, oddly enough, President Trump’s dominant economic philosophy. It involves protection of domestic producers through high barriers to foreign investment and a cheap currency created through…
With great fanfare at the end of June, the 19 EU Eurozone finance ministers announced the end to the eight-year-long Greek debt crisis that brought the entire Euro structure into its deepest crisis to date. The exercise is a deep deception. The EU ministers refused to write off any Greek state debt. Instead they did…
Looking at the unfolding trade war between Donald Trump and the world the phrase that should come to mind is “One good turn deserves another.” In the case of the insane sanctions on Oleg Deripaska and Russian Aluminum giant, Rusal, back in April, we finally got some clarity as to how Russia can and will…
Rather go to bed without dinner than to rise in debt. – Benjamin Franklin What can be added to the happiness of a man who is in health, out of debt, and has a clear conscience? – Adam Smith There are no shortcuts when it comes to getting out of debt. – Dave Ramsey Modern…
