Anyone Worried About the Lira Dragging EVERYTHING Else Down?
Anyone watching the lira? It was bad enough prior to Friday, and then Trump hit the tweets with more tariffs for Turkey. This was all just going to blow over it looked like until they had another meeting late last week and things went very wrong. But the lira is dragging global markets down across the board.
It looks like Turkey may eventually default, possibly to the the tune of USD $500 billion or so. That's not a hole that can be easily covered by banks or business. I don't see any upside to Turkey circling the drain and then going down the tubes.