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Worldly

Talking Turkey (and its economic crisis)

Worldly

Vox Media Podcast Network

News, Politics, News Commentary

4.41.8K Ratings

🗓️ 16 August 2018

⏱️ 28 minutes

🧾️ Download transcript

Summary

Zack, Jenn, and special guest Matt Yglesias discuss the economic crisis crippling Turkey — and how its feud with the Trump administration over a detained American pastor is making things even worse. On Elsewhere, Jenn and Zack examine the very real and very disturbing pirates of the Caribbean. Zack demonstrates his thorough mastery of Turkish acronyms, Matt challenges Turkey’s right to the biggest airport, and Jenn reveals the lengths she’d go to protect her dog. References: For some background on Erdogan, watch this Vox video on Erdogan’s slide toward authoritarianism. Zack mentioned the history of military coups in Turkey, but we couldn’t go into it in detail. Here’s an in-depth piece with the long, bizarre backstory. A little more on Erdogan’s son-in-law as finance minister. As Zack mentioned, there have been lots of Turkish megaprojects, including an airport and a bridge. The Washington Post article Jenn quoted to describe the situation for people living in Turkey. Jenn talked about Erdogan’s possible deal with Putin. If you want more details, she recommends this Wall Street Journal article. All the ins and outs of the fight over Pastor Brunson that Jenn described. And more information on the tariff hikes and retaliatory measures touched on at the end of the first segment. We’ve described the situation in Venezuela on Worldly before, but this is also a great Vox video on the collapse of Venezuela. Zack referenced this Washington Post article “They Be Pirates.” And Jenn cited this Bloomberg Businessweek piece about the collapse of Venezuela’s fish industry and how the Venezuelan Coast Guard and National Guard are also getting involved in piracy. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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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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