Word: turkeys
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...What we really need is stimulus from the middle-income countries. But several in that category are in renewed crisis?despite having done most of what was asked of them by the IMF. The problems of Argentina have spilled over to Brazil, and those of Turkey have set off the usual round of bad mouthing of emerging markets from the always overpaid, usually undereducated people who run London's trading desks and the world's major (mostly American) investment banks. Their juvenile views get instant exposure on the wire services, TV talk shows and the business dailies. Western orthodoxy tells...
...east Asia has not been seriously touched by Turkey and Argentina. But those not-so-far-away problems are making regional governments hesitant to take the bold measures needed to stimulate demand at home, such as lowering interest rates. Asia's huge trade surpluses ought to be spurring spending at home. But they are not being put to use for fear that irrational markets will seize on a statistic, such as a current-account deficit, as an excuse to savage an Asian currency...
...Greenwich Village music scene in the mid-1960s. The Florida native later founded the Dolphin Research Project to stop the trafficking and exploitation of dolphins. DIED. CHRISTL HAAS, 57, Austrian skiing champion, who won gold and silver medals in the 1964 Olympics, and the bronze in 1968; in Manavgat, Turkey. Even when retired, she remained popular in Austria, which marked her 50th birthday with a documentary about her life...
...Erdogan confronts one major obstacle, though. Despite his release from jail, he faces a five-year ban from holding political office. Turkey's Minister of Justice has already suggested that any new party founded by Erdogan cannot be legally established. The mayor will contest and even defy the ban, hoping that parliament will keep its pledge to make the amendments to the constitution that would get him off the hook. But he may well have to lead from the wings, not the best spot from which to shift the Islamic movement into the political center...
...presents demands, like permission for women to wear Islamic headscarves at universities, not as threats to the secular state but as basic rights. Even so, a Turkish establishment that includes the army still suspects his moderation is just fa?ade. Other critics say he's too provincial to reform Turkey and lead it into the E.U. His reply, still to be tested, is that no one else can persuade ordinary Turks that these goals are within their reach...