"Instant obsolescence of the Turkish model
By Spengler
With the Turkish lira in free-fall, Recep Tayyip Erdogan looks less like a prospective Ottoman caliph than a garden-variety Third World strongman whose patronage machine ruined the national currency. The Turkish prime minister's 'neo-Ottoman dream' (Amir Taheri) for a 'new Ottoman region' (Harold Rhode) reached its best-used-by date last December, when Turkey's stock market quadrupled in value from its 2009 crisis low. The deflationary wind that rocked American markets last week may flatten Turkey's. "
More:Asia Times Online :: SPENGLER: Instant obsolescence of the Turkish model
