Turkey’s political suicide bomber president

by Tom Rogan, Commentary Writer

 
President Recep Tayyip Erdogan seems determined to be Earth’s best — or worst, depending on your definition — political suicide bomber. Burying Turkey in multiple serious but avoidable crises, Erdogan ensures his nation’s growing suffering.

Let’s start with the economy. When it comes to the Turkish lira’s rising inflation, which now hovers around 12%, the primary causal factors are A) market expectation of near term European Union on U.S. sanctions being imposed on Ankara, and B) Erdogan’s utter mismanagement of the economy.

On the first count, we see Erdogan’s effort to steal Greek energy reserves in the Eastern Mediterranean, his testing – against explicit U.S. sanctions threats — of the Russian S-400 air defense system, and his picking of a fight with France over political Islam. Each of these imperial actions is likely to spark independent new sanctions on Ankara. Making matters worse, there’s Erdogan’s unrelenting reliance on a fiscal policy that matches heavy deficit spending to an uncompetitive, regulation-heavy economy. Viewing economic activity through a prism of patronage networks, Erdogan’s AK Party has discouraged innovation and avoided necessary reform. But to see just how catastrophic the lira’s currency collapse has been, have a look at this XE.com two year U.S. dollar-lira exchange chart.

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Πηγή: washingtonexaminer.com

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