A Standard and Poor Decision on Turkey – NOT!

Jagshemash; Here’s the link to my latest Hurriyet Daily News (HDN) column, where I discuss S&P’s Turkey outlook downgrade. As usual, I have a few additional points to make: First, some people are arguing that there is a political element to all this. You may remember that Turkey got the coveted second investment grade the […]

O (Turkish) Consumer, Where Art Thou?

Most of the analyses of the Central Bank of Turkey’s rate hike last week concentrated on its impact on banks and corporates. There was surprisingly little mention of consumers. Starting my latest Hurriyet Daily News (HDN) column with this sentence, I go on to explain why consumers might get hit worse than businesses and banks […]

How Central Bank of Turkey Saved PM Erdoğan’s Derrière

I couldn’t help but notice several misconceptions about Tuesday’s midnight’s emergency rate hike. Here is the introduction to my latest Hurriyet Daily News (HDN) column. One of those misconceptions gave the column its title. To quote directly from the column: “Some have also argued that the rate hike hurt the ruling Justice of Development Party’s […]

Reading into expectations of Turkey market economists

The Central Bank of Turkey released its monthly survey of market expectations today. I am in the process of finalizing my own Turkish economy forecasts. I know, I know, 6 percent of the year is already gone, but my priority was to follow and cover the political crisis unfolding in Turkey- as world-renowned Turkish philosopher […]

The Stubborn Slump in Advanced Economies: Fighting the Last War is Not a Path to Success

The following is a modified excerpt from my new book, “The Age of Oversupply: Overcoming the Greatest Challenge to the Global Economy,” which will be released for sale by the Penguin Portfolio division of Penguin Random House on September 26th. With the developed world economies still unable to escape from a condition of persistent economic […]