In Turkey Economic Crisis, Erdogan Is His Own Megaphone, Blaming the West

Only a matter of time before the Lira folds up even more. How can Erdogan try to hold on for more time with the grind being put on him and the Turks... they have played the outside card now for over a year and now find that it is not being bought by the rest of the world..... He's on a fading timeline and will be overthrown in the next set of sequences.

As some have mentioned, I wonder if Trump is hoping for Turkey to break from Europe and the West's influence. His goal all along is to break alliances (NATO, South Korea, NAFTA, TPP etc). Turkey leaving hurts Merkel, divides Germany and the Turks there even more. Just like how Mesut Ozil left the German national team, exactly what Trump would've wanted to see. To show Turkish integration into Germany doesn't work (and it kind of doesn't work as well as US). Divide Europe to make it easier to negotiate. China with 16+1 is now also tearing EU apart. And EU with US are admonishing China. And EU and China are admonishing US on "free" trade. Everyone's angry at each other now. EU can never be fully in bed with China for human rights reasons and Trump knows this. All so Trump can negotiate from what he feels is a stronger position for him. Hard to say if this works out. Trump said America first. It's rare to see a leader actually mean and do what he says (refreshing but in a very dissatisfying way). Voters shouldn't panic though, there are midterms, 2020, and 2 term limits. The average American has suffered for the last 40 years, what difference is it who or what party the President or government is? Maybe Americans need a 3rd party like other countries.

Trump will not get what he wants Now, Turkey and the United States, not a strategic partner.

The really sad thing is that, in the end, all of these different 'nationalisms' are mutually exclusive and can lead to nothing but conflict. Trump's battle with Erdogan is just another example, where two demagogues feed each other's sense of religious persecution in front of their respective indignant and angry masses. But just to let you know, any right-wing group in Europe that thinks this is just an isolated dispute with 'Muslim' Turkey, and that the historically kind and generous USA will always be there to ride to the rescue, will making a big mistake. Once the Brits have foolishly unhooked themselves from the EU they should expect no mercy in trade negotiations or any other kind of dispute. To the nationalist base, you'll just be another foreigner who rips us off, steals our jobs and, worst of all, refuses to speak American to us.

Let this sink in a few months.... Turkey's debt service costs have just been jacked way up, their fuel prices have just been bumped up by three quarters. You know what that'd do here. People will be all brave and nationalistic for a while. But eventually they will feel some real pain. Families will have gone through their savings, governments will need to raise taxes to pay for their debt. Then let's see how these grandstanding speeches are received.

Meh, blaming America for their troubles is nothing new for other countries. In fact one might say that it's a time honored tradition.

The cynical voice in my head wonders if this brouhaha doesn't serve both Trump and Erdogan well, and how much of a coincidence is that? It seems awfully convenient - they both need an outside foe to strut and rail against, in order to rally their own bases.

Why is it that authoritarian dictators can never seem to take responsibility for their mistakes and missteps. WIth them it is always the other guys fault.

Turkey is in the grips of mass hysteria, all due to the masterful oratory of a thoroughly corrupt dictator. The economic boom fueled by dollar and euro carry trade is about to hit the skids, and Erdogan has found the perfect foreign agent to blame, universally loathed Trump! This narrative where Trump's tariffs is the sole reason for Turkey's problems just writes itself, no explanation or elaboration needed. The masses and even the pseudo-elite seemed to have swallowed this tale lock, stock and barrel. The problem is: when you deliberately misidentify the real causes of the crises, there's no way you can find a lasting solution; so every "memorable" speech by Erdogan brings the catastrophic crash closer.

Erdogan will not be effected by any of this. The current growing anti-American population of turkey will keep him and his policies in place. The American president promises more sanctions. Then, what happens when Turkey throws the American military and its much needed bases out of Turkey???

Hi from Turkey. I'm reading US newspapers to have an opinion about what people think about the tension between USA and Turkey. I'm sharing similar ideas with this article. However, there are some crucial details that determine the basis of this tension, and this article gives them wrong. In Turkey, there is no doubt that Gulen movement did the coup attempt. In considering the support of US to PKK (which is a terorist organization that killed thousands and thousands Turkish people) in Syria and Gulen's presence in US, Turkish public started to think that USA is not a good ally for Turkey, argue that the USA cares only its own interests, and its interests are in conflict with Turkey's aims. Our president, Mr. Erdogan used this fact to reunite Turkish public during these days (I also think Mr. Erdogan is right in this particular case) Another important circumstance is the fact that Turkish government doesn't criticize the whole West. (There has been useful contacts with Germany, France etc.) Mr. Erdogan blames only the USA, not the West, in this crisis. We have good relationships with the world except USA in these days. In Mr. Brunson case, we (ordinary Turkish citizens) don't have enough information to say something. I'm a student in Bogazici University, which is an old American College. I hope problems will be solved, and shared wisdom will prevail the ego wars. Thank you for reading this comment, love you.

Erdogan’s dispute with the Financial Sector is long standing going back to the 2007-8 Financial Crisis that had a devastating effect on Turkey’s economy and following effects in Turkish currency in May 2013, when Erdoğan was struggling with a dramatic domestic challenge as protesters clashed with riot police in Istanbul’s Gezi Park. Trump’s actions intensify Turkey’s underlying fiscal problems. If Turkey’s problems become the problem of the financial world Erdogan may feel ‘rewarded’. Recently published Crashed: How a Decade of Financial Crises Changed the World by Adam Tooze a good reference to all these issues; the interlocking of the international banking apparatus frightening.

Trump will be a useful foil right up until the point where he manages to totally collapse the Turkish economy.

It's comforting to know that America is not the only place that's going crazy. If Erdogan can blame Trump for Turkey's debt-driven economic tailspin, it should be equally possible for Trump to blame Turkey when his loopy tariff wars generate a recession. Clearly, what the world needs is a scapegoat for every problem. That way everyone could be happy

You have to admit, Trump plays his role of villain pretty well. Putting tariffs on a country that's suffering because they won't turn a minister loose who I guarantee you Trump doesn't care on bit about. It's his ego, being told "no" -- and of course, the distraction value.

If he was smart, which he has yet to demonstrate, Erdogan would tell Trump to get his American (NATO) bases out of Turkey.

Some cultures respond well to authoritarian leadership.

Echoes of bloviating Trumpism in Turkey. Incompetents are becoming the norm.

The biggest disservice US governments have done against the people of Middle East is to destroy their economy through sanctions, wars and fanning differences between countries. For example, US encouraged the Syrian people to fight against their government with the promise of help but none arrived or the aid and planning were severely inadequate. The oil pipeline through Iran which can reliably export Kazakh, Turkmen and even Azerbaijan oil to international markets is effectively discouraged by the US. Iranian gas through pipelines that can be exported to Pakistan and India is lobbied against by the US. The deal that was led and signed by the US and other major world powers to end Iranian uranium enrichment activity was ripped by the US. Iraq was left in chaos. Afghanistan is in downward spiral. If these are not economic suppression of the whole region then what is it. Of course, each and every country has their unique challenges but let them sort it out. US foreign policy is the most unstable in the world with sharp shifts from one administration to the next. AIPAC lobby group is a significant force influencing US foreign policy. Remember neoconservatives itching for invasion of Iraq as the solution for all Middl East problems? Of course, AIPAC caused the Iranian nuclear deal to fail and its consequence is too early to tell. But it is very likely that bloodshed and upheaval will fill follow. And of course, AIPAC will still the rest of the world what an angel group they are.

Erdogan would be exactly Erdogan with or without Trump in office. Much as Trump is a debasement to the United States, Erdogan's diatribes and incompetence are not driven by Trump's actions. It's neither necessary nor productive to link all of the world's incompetents as the result of Trump's actions.

Trump and Erdogan need each other. For Erdogan Trump is the excuse he needs for everything that he himself made worse. For Trump Erdogan is the example he uses to show his base how he is fighting the "Muslims" and his brand of "Christianity". Hence the emphasis of freeing a Christian preacher but not a work on another Turkish (and Muslim) American also in prison. Make America/Turkey Great Again - please take your pick! Sad!

Turks are very good looking people...Maybe the best looking “race”...Dunno why they’ve turned their backs on Ataturk, who was a visionary...He wanted Muslims to be sophisticated...But like Robert Conquest made clear, it’s almost impossible for one country to understand another country...

Gold under your pillow. Good luck my tooth fairy worshipping friends.

I am Indonesian. Erdogan reminds me of Suharto, the Indonesian dictator who ruled for 32 years

It's obvious that Trump is jealous of Mr. Erdoğan and at the end of this period, I think Mr. Erdoğan devours Trump and his team as Sarkozy.

Erdogan will do well to remember that mere blaming America for the troubles will do little unless nationalism sought to be built around such negativity is salso provided with the minimum economic leg up to stand steady.

Despite Erdogan’s effort to assure his supporters that he will navigate Turkey through troubled waters, he won’t abe able to convince international investors. The country is reliant on foreign capital. Turkey fuelled its growth by borrowing heavily, spending on crazy construction mega projects. Erdogan has moved the country backward, focusing more on a more Islamic curriculum than on science and technology. Past AKP governments had failed to enact structural reforms to raise total productivity and enhance Turkey’s international competitiveness. Thanks to Erdogan’s support during the Saudi-led blockade, out of gratitude Qatar has pledged $15 billion to help Turkey out. But it’s just a drop in the ocean.

It's a simple formula, emerging markets must raise interest rates and slow down growth everytime the US economy is strong to keep inflation low and currency value high. This economic order prevents developing nations from catching up to the West. Erdogan brought Turkey's economy from the 110+ in the world to top 15, so he must know how to run the economy. I am sure he will find a way to maintain growth without having to succumb to a strong dollar. So yes, in a way the West is to blame for colonizing the world, for exploiting third world wealth, and for creating an unfair world order where the weak gets weaker, and strong gets stronger.

This is all so sad. An amazing country, wonderful hard working people, a complex fascinating history all upended because of politics and ego. Maybe my Turkish friends are thinking the same about us. I wish them well.

I would not be surprised to find out that Trump is doing all of this to help Erdrogan out.

Thr Turkish people have had some admirable leaders for example:, Mustafa Kema and Ataturk. There was no problem between the churches and the state. It seems when the Moslem Brotherhood gained political power that things went downhill. Hate will do it.

Thanks to Erdogan, Turkey may go the way of our domestic turkey. Previously trim and tough, now with a puffed out chest and barely able to walk.

Trump, Erdogan, Maduro, narcissists in charge of countries

The US gave Castro an excuse for the results of terrible economic management for decades. How old is Erdogan? If he's lucky (and his nation and its people unlucky) he might enjoy a good run with it as well. Leaving Trump aside for a moment, leaving Democrats and Republicans aside for the same moment, why don't my fellow citizens see as clearly as I think I do that the US has been doing far too much around the world? Fighting fights that are not our fights (see Vietnam, Syria), seeing danger to our security where there is none (Iraq, Afghanistan), putting lives and treasure on the line for obviously unreachable goals. (democracy in Afghanistan, just how stupid can we get? Both major parties and a very large segment of our intelligentsia are culpable here. Trump, of course, neither understands nor cares. But can we hope for a more sane, that is a more modest foreign policy when we are finally rid of him? Can we stop doing stupid things?

When it was impossible to earn money with money in the US, you invested in Erdogans palaces & in refridgerators of Erdogans voters. After your FED decided to raise Interestrates, this econonomy is no longer sustainable, but the whole political system of Turkey is based on this marvellous model of political economy, so President Erdogan is totaly right in blaming raising interestrates for economic decline.

Never be surprised by the depraved depths despots will go to protect themselves. Every single depot is willing to destroy their own country and people. To despots, countries are but avenues to personal power and enrichment. War is nothing to them when the chips begin to fail. War might be their only chance of survival. Galtieri willingly sacrificed Argentina's youth in the Falklands War because of his leadership failings. And he is but one. History is littered with the bloody misery of despots. They have to pick fights with someone to detract from their failings. Remind you of anyone?

Mr.Erdogan has learned the "blame someone else" lesson well from Mr.Trump.Always deflect the criticism and find a scapegoat.The problem is that Mr.Trump blames his own Justice Department and recklessly throws all the blame at anyone who dares to criticize him or differ with him.Come to think of it, Erdogan and Trump are alike.

Venezuela here we come! Before you know it, unsustainable inflation, carrying lira around by the bag full to buy a loaf of bread. Good old nationalism, can't beat it with a stick, especially when the propaganda machine is so well oiled like Erdogan's.

It seems as though Mr. Erdogan and Donald Trump must be reading from the same playbook. Especially the part where you blame someone else, anyone else, for all the problems you yourself have created -- and then demonize the journalists and the media if they dare to ask too many questions, or report about it any other way than it was intended. In the end there's no difference between national or religious pride, as both have the tendency to become increasingly claustrophobic, can land one in jail, or can be used as a weapon of mass suppression. There's also very little difference between Mr. Trump and Mr. Erdogan, who both Democracy and Civil Rights as something that gets in the way of assuming full control and power, as they seek or consturct political enemies everywhere. Mr. Erdogn says "...they have the dollar, but we have our people, our Allah". But he doesn't realize they are both viewed as almost both the same thing. He'll find that out with those sanctions soon enough. But so will we.

“ nationalism, resentment, suppression of speech, theology, and heavy borrowing” What a wonderful way to drive your country backwards and bankrupt in the modern global economy. And Turkey’s duped masses love the way he talks as he destroys their country. Sad.