Why Turkey Is In a Crack-Up Boom

The Turkish currency is in a downward spiral as investors move lira bank deposits into real assets, including stocks. Also, the Turkish economy will suffer as a result. Productivity will fall as companies stop investing in long-lead-time projects for fear of earning a return in currency that may be worthless a decade or more in the future. Continue to hold puts on the iShares Turkey ETF.

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Dan Amoss

Dan Amoss, CFA, tracks aggressive accounting and other red flags that markets miss. He’s a student of the Austrian School of economics and Daily Reckoning fan since 2000. Agora Financial relies on Dan for macro market commentary as well as profitable plays like his 2008 call to readers to buy Lehman Bros. puts, which...

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