S&P, Moody’s lower Turkey’s ratings

Given that they were dishing out high ratings to all and sundry right up to the 2008 crash – and were judged to have been accomplices before the fact – you might want to ask how much their “ratings” can be trusted . . .

credit agencies

Would you buy a used car from these guys?

Two major global ratings agencies lowered Turkey’s ratings Aug. 17, saying they could be upgraded with certain economic improvements.

Standard & Poor’s said it lowered the country’s long-term foreign currency sovereign credit rating to ‘B ‘ from ‘BB-‘ while maintaining the outlook at stable.

The agency also said it affirmed the short-term foreign and local currency sovereign credit ratings on Turkey at ‘B’.

“We could consider an upgrade if the government successfully devises and implements a credible economic adjustment program that bolsters confidence, stabilizes balance-of-payments flows and brings inflation under control,” the agency said in a statement.

Source

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Turks destroy dollars, break iPhones in reaction to US sanctions

Several Turks have had their share of 15 minutes of fame this week when their videos showing their furious reaction to United States sanctions went viral, as they destroyed dollars and broke their iPhones.

Destroy iPhones and dollarsIn one of the most popular videos, a Turkish butcher was seen “mincing” dollar bills, while a businessman from the south-eastern Şanlıurfa province opted to burn them.

In another popular video, a man was seen breaking several iPhones for “reis,” which means “leader,” referring to President Recep Tayyip Erdoğan. As he also broke other phones for two cabinet ministers sanctioned by the U.S., six young men behind him were seen calling out, “God is great.”

Source

South America’s ‘Made in the USA’ Growing Crisis–How Brazil, Argentina, and Venezuela Are Destabilized

“Destroy the currency is always at the forefront of USA imperialist strategy to drive out populist, democratic governments and re-install pro-Business, pro-US investor governments.”

Well, we know that, of course – but this is a very good detailed analysis of what those b*****ds are doing to the world! And that’s a better use of the word “populist” – which is getting sadly devalued these days by being applied to leaders like the Big DT.

Jack Rasmus

Emerging market economies are heading for an economic implosion. From South America to South Asia conditions are deteriorating rapidly and heading for an even more severe economic crisis in which many are already mired. At the head of this list is Brazil and Argentina. Others increasingly fragile, however, include Turkey, Indonesia, Malaysia, and even India, which has covered up its weak economic condition, and massive non-performing bank loan problem, by manipulating its GDP to falsely exaggerate its growth rate.

Business pundits, and even some commentators on the ‘left’, argue that emerging market economies, of which all the above are key members, now account for more than half of the world’s GDP. This suggests their vulnerability to US and G7 economies is less than it has been in the past. The so-called advanced economies–i.e. the USA, Japan, Canada, UK, France, Germany, Italy (the ‘G7–are increasingly irrelevant. But global GDP numbers are…

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“Disembodied Americans and the Crucifixion of the World”

You should read this – even if you know it already, in your heart!

An Outsider's Sojourn II

Image: http://www.azquotes.com

“Our modern society is engaged in polishing and decorating the cage in which man is kept imprisoned.” – — Swami Nirmalananda – Source: Enlightened Anarchism

“I am a person who is unhappy with things as they stand. We cannot accept the world as it is. Each day we should wake up foaming at the mouth because of the injustice of things.”
– Hugo Claus

To the bodiless bloodless insouciant ones, however, the blood of “others” is invisible. It is our lives that matter. What is being done to these “others” is of little consequence because it is experienced as an abstraction – unreal – as if it weren’t happening, even as it is. And in a twist of fate straight from Greek tragedy, those who embrace this delusion are in denial of the very real possibility that they too will be “disappeared” by a nuclear war being provoked…

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Overthrowing Other People’s Governments: The Master List of U.S. “Regime Changes”

A very interesting list – to which you could probably add New Zealand (1974) and Turkey (1960, 1971 and 1980).

An Outsider's Sojourn II

hy·poc·ri·sy
həˈpäkrəsē/Submit

noun

the practice of claiming to have moral standards or beliefs to which one’s own behavior does not conform; pretense.

Overthrowing Other People’s Governments: The Master List of U.S. “Regime Changes”
By William Blum

GR Editor’s Note

This incisive list of countries by William Blum was first published in 2013, posted on Global Research in 2014.

In relation to recent developments in Latin America and the Middle East, it is worth recalling the history of US sponsored military coups and “soft coups” aka regime changes.

In a bitter irony, under the so-called “Russia probe” the US is accusing Moscow of interfering in US politics.

This article reviews the process of overthrowing sovereign governments through military coups, acts of war, support of terrorist organizations, covert ops in support of regime change.

In recent developments, the Trump administration is supportive of a US sponsored regime change in Venezuela and Cuba

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Many Thanks to My Loyal Readers!

I just had to share this! My first royalty cheque arrived in the mail from Amazon today! Well, I guess I’m not going to get rich in this business, or find my name on anyone’s best-seller list – but considering I gave a copy of the book to just about every friend, colleague or family member, it feels like those must be genuine sales! So thanks to you all. Nice to know that people still buy books, or their Kindle equivalent. Who knows? Maybe there will be a second volume 🙂