I truly do not understand this

[pjohns]

The markets all tanked today. And I am told that the reason was the steadily worsening relationship between the US and Turkey.

But I have to wonder: So what?

Suppose that the US never again did any trading with Turkey--any whatsoever--just how, exactly, would this impact world markets?

I truly doubt that much of the world's daily trade is between these two countries.

[MisterVeritis]

Disregard day to day market activity.

[stjames1_53]

The markets all tanked today. And I am told that the reason was the steadily worsening relationship between the US and Turkey.

But I have to wonder: So what?

Suppose that the US never again did any trading with Turkey--any whatsoever--just how, exactly, would this impact world markets?

I truly doubt that much of the world's daily trade is between these two countries.

try this for a short read:
https://personalliberty.com/economic...-real-culprit/

[midcan5]

Skip the conspiratorial nonsense from personalliberty, they always find someone to blame, a rather empty finger pointing at their favorite devils. The reason Turkey matters is because other nations matter too and just like the 08 crash with it worldwide consequences, when one nation or bank or financial institution goes down the weakness of others often show up too. One crash may call out another and show their weakness. Hopefully this corrects quickly. Read Galbraith sometime.


https://www.cnbc.com/video/2018/08/1...ts-dow-sp.html


"The only function of economic forecasting is to make astrology look respectable." John Kenneth Galbraith


"The United States in the 1980s devoted 5.2-6.5 percent of its gross national product to military uses; Germany devoted less than half that, Japan less than 1 percent...The American resources so used were at cost to civilian investment and consumption; those so saved in Japan and Germany were available for civilian use and specifically for improving civilian industry. The matter of the use of trained manpower was particularly important. By some calculations, from a quarter to a third of all American scientific engineering talent in recent years was employed in relatively sterile weapons research and development. This talent the Japanese and the Germans devoted to the improvement of their civilian production. Japan, defeated in war by American industrial power, has now in peacetime extensively replaced its erstwhile enemy in productive service to the American consumer." John Kenneth Galbraith 'The Culture of Contentment'

[Lummy]

The markets all tanked today. And I am told that the reason was the steadily worsening relationship between the US and Turkey.

But I have to wonder: So what?

Suppose that the US never again did any trading with Turkey--any whatsoever--just how, exactly, would this impact world markets?

I truly doubt that much of the world's daily trade is between these two countries.

So what, indeed. They could just as well have said, "a flock of pigeons pooped on the window ledge."

[Ethereal]

Turkey is a member of NATO and host to Incirlik Air Base, one of the US's most strategically important installations. The Turks have talked about kicking the US out of Incirlik which would result, not only in a crisis within NATO, but would deny the US an important strategic asset in Eurasia. The Turks also have a great deal of leverage over the EU, since they can unleash a torrent of refugees any time they want. And just look at where Turkey is located geographically - it is the land bridge between Europe and Asia. Simply put, Turkey occupies a very important strategic position within Eurasia.

[pjohns]

Turkey is a member of NATO and host to Incirlik Air Base, one of the US's most strategically important installations. The Turks have talked about kicking the US out of Incirlik which would result, not only in a crisis within NATO, but would deny the US an important strategic asset in Eurasia. The Turks also have a great deal of leverage over the EU, since they can unleash a torrent of refugees any time they want. And just look at where Turkey is located geographically - it is the land bridge between Europe and Asia. Simply put, Turkey occupies a very important strategic position within Eurasia.

That is a good analysis.

Still, I am of the opinion that Turkey is, at best, a "frienemy" (to use a word coined by Millennials): It is, indeed, a part of NATO--although I am not exactly certain just why--but it is increasingly becoming an authoritarian state; so I truly have no use for it. (If it were to become a part of Russia's orbit, I would simply shrug my shoulders, in total indifference.)

As for (next-door) Syria, I very much support the view that the Kurds--our traditional ally--should have a homeland, carved out of Iraq and Turkey. And I would seriously hope that our government would strongly take their side, too.

[Peter1469]

That is a good analysis.

Still, I am of the opinion that Turkey is, at best, a "frienemy" (to use a word coined by Millennials): It is, indeed, a part of NATO--although I am not exactly certain just why--but it is increasingly becoming an authoritarian state; so I truly have no use for it. (If it were to become a part of Russia's orbit, I would simply shrug my shoulders, in total indifference.)

As for (next-door) Syria, I very much support the view that the Kurds--our traditional ally--should have a homeland, carved out of Iraq and Turkey. And I would seriously hope that our government would strongly take their side, too.

We allowed Turkey in to provide lots of cannon fodder if a major war broke out.

[MisterVeritis]

We allowed Turkey in to provide lots of cannon fodder if a major war broke out.

Think intelligence gathering...