The Clock’s Ticking for Turkey

by Serban V.C. Enache

The financial picture looks like this:

Turkish Government debt: 28 percent of GDP in 2017, and has been falling for several years. Private sector debt is 170 percent of GDP – and roughly 35 percent of that is denominated in foreign currency. Turkish nominal GDP growth has been solid for several years, even reaching the double digit mark. Continue reading “The Clock’s Ticking for Turkey”

Milton Friedman, the Liar

by Serban V.C. Enache

Milton Friedman, a great American economist. He received the 1976 Nobel Memorial Prize in Economic Sciences. The father of the Monetarist current. Avid supporter of the so-called Free Market. His work influenced policy makers far and wide. Milton Friedman, a gentleman, a liar… Continue reading “Milton Friedman, the Liar”