> Remarkably, Erdogan and his cronies do not think they have made a mistake! This is not an Erdogan/Turkey problem. See how the BoE panicked and relaunched QE

> Remarkably, Erdogan and his cronies do not think they have made a mistake! This is not an Erdogan/Turkey problem. See how the BoE panicked and relaunched QE despite 10% inflation in order to rescue the bonuses of pension fund managers. If Credit Suisse goes insolvent and threatens to take Deutsche Bank with it, I guarantee you'll see the ECB cut rates and put Pan-Eurozone QE on hyperdrive, regardless of prevailing inflation. This is, as it always is, a human problem. If crisis A hurts everyone, but crisis B hurts your buddies worse, you're going to fix crisis B at the cost of exacerbating crisis A every time. It's how power works, everywhere.