But he knows what’s best for the working man
Global Events & Politics Überthread
- Thread starter Hawk
- Start date
But he knows what’s best for the working man
nsacpi
Expects Yuge Games
populism is always popular until the bill comes due
https://www.nytimes.com/2019/06/24/...tion=click&module=Top Stories&pgtype=Homepage
ISTANBUL — The shocking rebuke of Turkey’s governing party in Sunday’s mayoral election in Istanbul resonated as more than a yearning for new leadership in the nation’s largest city. It signaled mounting despair over the economic disaster that has befallen the nation under the strongman rule of President Recep Tayyip Erdogan.
Through the course of a 16-year run as Turkey’s supreme leader, Mr. Erdogan has time and again delivered on his promises of potent economic growth. Yet not unlike an athlete who puts up record-shattering numbers through performance-enhancing drugs, he has produced expansion by resorting aggressively to debt. He has unleashed credit to his cronies in the real estate and construction industries, who have filled the horizons with monumental infrastructure projects.
The bill has come due. Over the last two years, financiers have taken note of the staggering debt burdens confronting Turkey’s major companies and grown fearful of the increasingly dubious prospects for full repayment. Investors have yanked their money out of the country, sending the value of Turkey’s currency, the lira, plunging by more than 40 percent against the American dollar.
The result is inflation running at an annual rate of about 19 percent, besieging ordinary people and companies alike. Farmers are stuck paying sharply higher prices for imported fertilizer and fuel for their tractors. Families are paying more for vegetables and eggs. Factories are paying extra for imported components like electronics and parts. The official unemployment rate exceeds 14 percent.
Of gravest concern, the companies that enabled Mr. Erdogan’s construction bonanza have watched their balance sheets deteriorate with the fall in the lira. Much of their debt is priced in dollars, meaning their burden expands as the Turkish currency loses value. Most of their revenues are in lira, a potentially lethal mismatch that threatens insolvency.
Turkey was staring at some $328 billion worth of medium and long-term debt in foreign currencies, most of that in dollars, as of the end of 2018, according to official data. Private companies were responsible for about two-thirds. Private companies owed another $138 billion in foreign currency debt payable in the next year.
Given that Turkey’s overall economic production was about $766 billion last year, these debts are enormous. They have given Turkey claim on an unwanted distinction: Only Argentina looks to be at greater risk of next descending into a full-blown crisis.
https://www.nytimes.com/2019/06/24/...tion=click&module=Top Stories&pgtype=Homepage
ISTANBUL — The shocking rebuke of Turkey’s governing party in Sunday’s mayoral election in Istanbul resonated as more than a yearning for new leadership in the nation’s largest city. It signaled mounting despair over the economic disaster that has befallen the nation under the strongman rule of President Recep Tayyip Erdogan.
Through the course of a 16-year run as Turkey’s supreme leader, Mr. Erdogan has time and again delivered on his promises of potent economic growth. Yet not unlike an athlete who puts up record-shattering numbers through performance-enhancing drugs, he has produced expansion by resorting aggressively to debt. He has unleashed credit to his cronies in the real estate and construction industries, who have filled the horizons with monumental infrastructure projects.
The bill has come due. Over the last two years, financiers have taken note of the staggering debt burdens confronting Turkey’s major companies and grown fearful of the increasingly dubious prospects for full repayment. Investors have yanked their money out of the country, sending the value of Turkey’s currency, the lira, plunging by more than 40 percent against the American dollar.
The result is inflation running at an annual rate of about 19 percent, besieging ordinary people and companies alike. Farmers are stuck paying sharply higher prices for imported fertilizer and fuel for their tractors. Families are paying more for vegetables and eggs. Factories are paying extra for imported components like electronics and parts. The official unemployment rate exceeds 14 percent.
Of gravest concern, the companies that enabled Mr. Erdogan’s construction bonanza have watched their balance sheets deteriorate with the fall in the lira. Much of their debt is priced in dollars, meaning their burden expands as the Turkish currency loses value. Most of their revenues are in lira, a potentially lethal mismatch that threatens insolvency.
Turkey was staring at some $328 billion worth of medium and long-term debt in foreign currencies, most of that in dollars, as of the end of 2018, according to official data. Private companies were responsible for about two-thirds. Private companies owed another $138 billion in foreign currency debt payable in the next year.
Given that Turkey’s overall economic production was about $766 billion last year, these debts are enormous. They have given Turkey claim on an unwanted distinction: Only Argentina looks to be at greater risk of next descending into a full-blown crisis.
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goldfly
<B>if my thought dreams could be seen</B>
Christian missionary with no medical degree kills kids in Uganda while making it seem she is a doctor
https://www.theroot.com/no-white-saviors-woman-accused-of-letting-african-babi-1835666803
https://www.theroot.com/no-white-saviors-woman-accused-of-letting-african-babi-1835666803
57Brave
Well-known member
Adam Schiff
Verified account @RepAdamSchiff
1h1 hour ago
Foreign policy is not a photo-op. It’s not reality TV. It takes hard work, planning, and perseverance.
Since Trump first met Kim, North Korea’s nuclear program has grown. Now, he has again aggrandized a ruthless dictator, for nothing in return.
He has been played by Kim. Again.
Verified account @RepAdamSchiff
1h1 hour ago
Foreign policy is not a photo-op. It’s not reality TV. It takes hard work, planning, and perseverance.
Since Trump first met Kim, North Korea’s nuclear program has grown. Now, he has again aggrandized a ruthless dictator, for nothing in return.
He has been played by Kim. Again.
goldfly
<B>if my thought dreams could be seen</B>
just seeing the other posts up there about me in this thread (i assume me cause said idiot has said those things at me)
i go to work pretty often for someone who doesn't understand work etc like you assume of me lol
i wish i was born into money, i would work WAY less
i go to work pretty often for someone who doesn't understand work etc like you assume of me lol
i wish i was born into money, i would work WAY less
goldfly
<B>if my thought dreams could be seen</B>
the rights elitism against her is noted as well
sturg33
I
She also apparently lied about touring the facilities.
The right should underestimate her at all as she is the left's Trump.
Stupid but effective to the base
cajunrevenge
Well-known member
https://markets.businessinsider.com...wns-vessel-seized-by-us-cbp-2019-7-1028340025
JP Morgan ship seized with nearly 20 tons of cocaine they valued at 1.3 Billion.
JP Morgan ship seized with nearly 20 tons of cocaine they valued at 1.3 Billion.
nsacpi
Expects Yuge Games
The European Far Right and Russia.
https://www.buzzfeednews.com/article/albertonardelli/salvini-russia-oil-deal-secret-recording
“We really want to begin to have a great alliance with these parties that are pro-Russia.”
The Russian response was positive. They can be heard describing Salvini, who is also Italy’s interior minister, as the “head” of Europe’s resurgent ultra-right nationalist movements, stretching from Italy in the south to Sweden and Finland in the north.
The negotiation — which lasted for an hour and 15 minutes, interspersed with cigarette breaks and fueled by espressos — would involve a major Russian oil company selling at least 3 million metric tons of fuel over the course of a year to Italian oil company Eni for a value of around $1.5 billion. The buying and selling would be done through intermediaries, with the sellers applying a discounted rate to these transactions.
The discount would be worth around $65 million, based on fuel prices at the time, according to calculations provided to BuzzFeed News by industry analysts, and it is this money that would be secretly funneled to the Italian party via the intermediaries.
Savoini can also be heard underlining to the other Italians the importance of keeping their relationship a tightly held secret. Describing the three of them as “a triumvirate,” he said they needed to be a “watertight compartment” and “more than prudent.”
The Italians were explicit that they were “not counting to make money” from the deal for themselves. The purpose was “not professional, it’s just a political issue,” one of the men told the Russians. “We count on sustaining a political campaign which is of benefit, I would say of mutual benefit, for the two countries.”
And in response to the Russians asking about extra “commission” for themselves — later euphemistically described as “an amount to be returned” to the Russians — Savoini made clear he was fine with them taking that cut. “They take even 400 or whatever the **** they need to take,” he told his Italian colleagues later. “It doesn’t matter. It’s a guarantee. It means they will always do that and for us it’s OK.”
https://www.buzzfeednews.com/article/albertonardelli/salvini-russia-oil-deal-secret-recording
“We really want to begin to have a great alliance with these parties that are pro-Russia.”
The Russian response was positive. They can be heard describing Salvini, who is also Italy’s interior minister, as the “head” of Europe’s resurgent ultra-right nationalist movements, stretching from Italy in the south to Sweden and Finland in the north.
The negotiation — which lasted for an hour and 15 minutes, interspersed with cigarette breaks and fueled by espressos — would involve a major Russian oil company selling at least 3 million metric tons of fuel over the course of a year to Italian oil company Eni for a value of around $1.5 billion. The buying and selling would be done through intermediaries, with the sellers applying a discounted rate to these transactions.
The discount would be worth around $65 million, based on fuel prices at the time, according to calculations provided to BuzzFeed News by industry analysts, and it is this money that would be secretly funneled to the Italian party via the intermediaries.
Savoini can also be heard underlining to the other Italians the importance of keeping their relationship a tightly held secret. Describing the three of them as “a triumvirate,” he said they needed to be a “watertight compartment” and “more than prudent.”
The Italians were explicit that they were “not counting to make money” from the deal for themselves. The purpose was “not professional, it’s just a political issue,” one of the men told the Russians. “We count on sustaining a political campaign which is of benefit, I would say of mutual benefit, for the two countries.”
And in response to the Russians asking about extra “commission” for themselves — later euphemistically described as “an amount to be returned” to the Russians — Savoini made clear he was fine with them taking that cut. “They take even 400 or whatever the **** they need to take,” he told his Italian colleagues later. “It doesn’t matter. It’s a guarantee. It means they will always do that and for us it’s OK.”
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cajunrevenge
Well-known member
https://www.google.com/amp/s/www.vi...-trapped-inside-a-concrete-entombed-weed-shop
Canadian is literally entombing illegal pot shops with large concrete blocks.
Canadian is literally entombing illegal pot shops with large concrete blocks.