4.4 • 1.8K Ratings
🗓️ 16 August 2018
⏱️ 28 minutes
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0:00.0 | Welcome to worldly on the Vox Media Podcast Network. I'm Zak Beach, I'm a senior reporter |
0:12.4 | at Vox, along with foreign editor Jennifer |
0:14.9 | Williams. Alex Ward is enjoying a well-deserved vacation this week, but in his place we've got a special |
0:20.3 | guest. |
0:21.3 | Mad Iglesias, Vox co-founder and host of our sister who podcast, The Weeds. |
0:24.2 | Hi! |
0:25.2 | Hello to both of you and Jen. |
0:26.2 | Hello also and welcome to Matt. |
0:28.2 | Well we're especially glad to have Matt this week because he knows a lot about economics and |
0:32.1 | today's topic is the rolling economic |
0:34.9 | collapse of Turkey. So Turkey's a NATO ally and one of the most important countries |
0:39.1 | in the Middle East. Its currency, the Lira, is in free fall, it's a bad situation made worse by a recent feud with the Trump administration. |
0:47.0 | The feud started with an American pastor held in Turkish prison, and it's led Trump to impose tariffs on Turkey, |
0:52.2 | steel, and aluminum sectors. |
0:54.0 | Experts are now warning of an even worse economic crisis on the horizon. |
0:57.7 | So here's how TV personality Jim Kramer puts it in his own inimitable way. |
1:02.3 | Don't buy anything that can possibly be connected to Turkey. |
1:05.0 | Don't buy, which would be good for the Bluth Company, but not so much for Turkey. |
1:09.0 | But all right, Matt, let's start us off. |
1:12.0 | What's going on here? |
1:13.3 | Okay, so anytime you see an emerging market debt crisis like this, there's always particulars. |
1:21.0 | Erdowon has some wacky particulars that we'll get into, but that the general phenomenon |
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