--- James Heartfield <Jim at heartfield.demon.co.uk>
wrote: >
> thanks to Daniel for this advance intelligence
>
James is being far too gracious here and giving credit where it isn't due. Although Turkey is off the IMF peg, things are actually looking quite good at the moment (in relative, financial terms; I'm sure that to actually live there at the moment must be pretty f'ing awful). The government is going to end up more or less nationalising the banking system (and later privatising it, helas), and there will be some austerity, but we're not looking at any nightmare scenarios (NB: this is not investment advice). I think that the big difference is that this time round, there are no big, geared hedge funds, because that business went out of fashion in 1998.
dd
===== "Imagine the Duchess's feelings You could have pierced her with swords To find her youngest son liked Lenin And sold the Daily Worker near the House of Lords" -- Noel Coward
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