Thursday, June 06, 2013

Secular Protests Spotlight Turkey's Credit Boom

Growing Fears of the Inevitable Bust

Turkey's Islamist regime has enjoyed the confidence of international investors, for whom stability trumps democracy--fascism is OK as long as it is stable, is the perfidious, prevailing view--with the notable exception of a relative handful of contrarians. But the secular uprising--which upsets the pro-Islamist Obama administration and its fawning media outlets--has thrown a spotlight on Turkey's artificially created and maintained prosperity, a "classic credit boom."

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