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Turkey economy in free fall this morning!

 
Nobody You Know
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08/10/2018 09:39 AM

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Turkey economy in free fall this morning!
Just listening to Varney & Company on Fox Business in my car. As of 9:35 a.m. EST, turkey's currency has fallen 16.6%. I cannot pull up links at the moment, but if anybody can find any please add them to this post.

Last Edited by Nobody You Know on 08/10/2018 09:40 AM
Nobody You Know  (OP)

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08/10/2018 09:41 AM

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Re: Turkey economy in free fall this morning!
By the way, that's a 16.6% drop just this morning. Has potential to bring down many banks that have loaned hundreds of billions of dollars to Turkey.
Oaken Paw
It's the wood that makes it good

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08/10/2018 09:43 AM

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Re: Turkey economy in free fall this morning!
[link to www.cnbc.com (secure)]
Everything has got to be a THING today
CE1
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08/10/2018 09:44 AM

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Re: Turkey economy in free fall this morning!
[link to www.cnbc.com (secure)]

Last Edited by CE1 on 08/10/2018 09:44 AM
Revbo™

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08/10/2018 09:46 AM
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Re: Turkey economy in free fall this morning!
I guess we're about to find out how badly Erdogan wants to keep one political prisoner hostage.
John 8:32

And ye shall know the truth, and the truth shall make you free.
Nobody You Know  (OP)

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08/10/2018 09:46 AM

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Re: Turkey economy in free fall this morning!
Those banks have required that their loans be repaid in US Dollars, not the Turkish lira. Since their lira is falling apart, they cannot purchase those US dollars and will default on all those loans. This has the potential to bring down the entire European economy!
Billy Ringo

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08/10/2018 09:47 AM

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Re: Turkey economy in free fall this morning!
Erdogen has got to go and can't believe their masses haven't already pushed him aside. I've worked with a lot of Turks and they aren't a backwards group....quite progressive.
I am Billy Ringo and I approve of this message. Paid for by belligerent derelicts for Ringo.
Nobody You Know  (OP)

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08/10/2018 09:47 AM

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Re: Turkey economy in free fall this morning!
I guess we're about to find out how badly Erdogan wants to keep one political prisoner hostage.
 Quoting: Revbo™


On top of that, Trump just doubled down on sanctions against Turkey this morning.
Pole Cat

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08/10/2018 09:51 AM

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Re: Turkey economy in free fall this morning!
bump to follow

Follow Bloomberg's liveblog of Turkey's response to the diplomatic (and economic) crisis, as lira plunges to a record low. Erdogan will speak followed by a news briefing from his son-in-law Finance Minister Berat Albayrak.

[link to www.bloomberg.com (secure)]
javierruizleon

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08/10/2018 09:52 AM
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Re: Turkey economy in free fall this morning!
[link to twitter.com (secure)]
Trump on Turkey
"I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!"
Genesis-Acts,Hebrews-Revelation to, you know who
Romans-Philemon to the Church
Mid-Acts Pauline Dispensational Right Division
Anonymous Coward
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08/10/2018 09:52 AM
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Re: Turkey economy in free fall this morning!
Lira collapses as Erdogan tells Turks: They have 'their dollars,' we have 'our god'

[link to www.cnbc.com (secure)]

Good luck with that..
Anonymous Coward
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08/10/2018 09:54 AM
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Re: Turkey economy in free fall this morning!
5 star for economic doom thread!
Pole Cat

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08/10/2018 09:56 AM

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Re: Turkey economy in free fall this morning!
On Turkey's meltdown: "expect corporate defaults on foreign currency debt, and possible bank failures. This is a textbook currency crisis that's morphing into a debt and liquidity crisis due to policy mistakes."

[link to www.bloomberg.com (secure)]


Definitely going to affect the eurozone...lira meltdown has surpassed Argentina's peso.
Pole Cat

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08/10/2018 09:59 AM

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Re: Turkey economy in free fall this morning!
tons of red:

[link to www.marketwatch.com (secure)]
Maddog11B

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08/10/2018 09:59 AM
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Re: Turkey economy in free fall this morning!
Go around fucking with the machine has consequences!
Oceanlover

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08/10/2018 10:00 AM
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Re: Turkey economy in free fall this morning!
This will lead to war. Ezekiel 38
Oceanlover
Beyond Perceptions

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08/10/2018 10:02 AM
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Re: Turkey economy in free fall this morning!
Erdogen has got to go and can't believe their masses haven't already pushed him aside. I've worked with a lot of Turks and they aren't a backwards group....quite progressive.
 Quoting: Billy Ringo


Do you work with any of these guys?

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"There was one of two things I had a right to, liberty, or death; if I could not have one, I would have the other"
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DuckNCover

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08/10/2018 10:05 AM

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Re: Turkey economy in free fall this morning!
Same thing is happening in Iran. Civilians there are protesting. Maybe a regime change in the near future...
Pole Cat

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08/10/2018 10:06 AM

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Re: Turkey economy in free fall this morning!
I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!

[link to twitter.com (secure)]
Nobody You Know  (OP)

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08/10/2018 10:06 AM

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Re: Turkey economy in free fall this morning!
[link to twitter.com (secure)]
Trump on Turkey
"I have just authorized a doubling of Tariffs on Steel and Aluminum with respect to Turkey as their currency, the Turkish Lira, slides rapidly downward against our very strong Dollar! Aluminum will now be 20% and Steel 50%. Our relations with Turkey are not good at this time!"
 Quoting: javierruizleon


Thanks to you and everyone else for the links! Hard to post while driving, lol.
Revbo™

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08/10/2018 10:07 AM
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Re: Turkey economy in free fall this morning!
I guess we're about to find out how badly Erdogan wants to keep one political prisoner hostage.
 Quoting: Revbo™


On top of that, Trump just doubled down on sanctions against Turkey this morning.
 Quoting: Nobody You Know


That's what I was referring to. Those sanctions are what's doing this to the Turkish currency.
John 8:32

And ye shall know the truth, and the truth shall make you free.
Cartel™

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08/10/2018 10:20 AM
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Re: Turkey economy in free fall this morning!
bundy6
Imagine a group of people so disgusting they have to make laws preventing you from hating them
:candp2:
Ostria1

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08/10/2018 10:24 AM

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Re: Turkey economy in free fall this morning!
He is speaking now
Ostria
VeraFromChorleyAGAIN

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08/10/2018 10:25 AM
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Re: Turkey economy in free fall this morning!
All I am is thinking is "ooh, lets buy some lira now, quick!". It will do for my holiday there,I go every year.
Billy Ringo

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08/10/2018 10:28 AM

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Re: Turkey economy in free fall this morning!
Erdogen has got to go and can't believe their masses haven't already pushed him aside. I've worked with a lot of Turks and they aren't a backwards group....quite progressive.
 Quoting: Billy Ringo


Do you work with any of these guys?

[link to www.dailymotion.com (secure)]
 Quoting: Beyond Perceptions


Thankfully no. But I did start laughing about the remote possibility that I would see one of the guys that I know. THAT would have been a shocker.
I am Billy Ringo and I approve of this message. Paid for by belligerent derelicts for Ringo.
Agent Smith 2014

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08/10/2018 10:34 AM
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Re: Turkey economy in free fall this morning!
JC-0bhwg
Life is a dream and we are the imagination of ourselves.
Billy Ringo

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08/10/2018 10:44 AM

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Re: Turkey economy in free fall this morning!
Erdogan calls Putin to confirm Russian support for Turkey. Good luck with that, Russia's economy is less than a 12th of the US.

Don't bring a butter knife to a tank fight.
I am Billy Ringo and I approve of this message. Paid for by belligerent derelicts for Ringo.
Distant Echo

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08/10/2018 10:46 AM
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Re: Turkey economy in free fall this morning!
@IvanTheK
JUST IN:
Erdogan considers taking Turkey private at 420 Lira. Funding secured.

12:27 pm · 10 Aug 2018

[link to twitter.com (secure)]
Bikeride

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08/10/2018 10:47 AM
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Re: Turkey economy in free fall this morning!
Erdogen has got to go and can't believe their masses haven't already pushed him aside. I've worked with a lot of Turks and they aren't a backwards group....quite progressive.
 Quoting: Billy Ringo


ya, but the government has a pretty good hold on the media, and the Turkish people are very nationalist in spirit. If the government starts telling the people that they're being attacked by foreigners, they'll quickly rally around Erdogan and do whatever he says. The Turkish people are very easily riled in that regard.
MissCleo

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08/10/2018 10:56 AM

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Re: Turkey economy in free fall this morning!
Lira collapses as Erdogan tells Turks: They have 'their dollars,' we have 'our god'

[link to www.cnbc.com (secure)]

Good luck with that..
 Quoting: Tess.


that same God that guided them to pull off 911.

with current threats to San Francisco, banking capitol of US, and Toronto, Big Five Banks headquarters. hmmmm.
Garden Serpent

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08/10/2018 10:56 AM
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Re: Turkey economy in free fall this morning!
bundy6
 Quoting: Cartel™


bushfing
The choice is yours, I just provide the opportunity.





GLP