Posted inAT Finance, China, European Union, Germany, India, Indonesia, Iran, Japan, Middle East, Northeast Asia, Russia, South Asia, South Korea, Turkey, World

Crashing currency chaos spreads across the Global South

The Iranian rial: crash. The Turkish lira: crash. The Argentine peso: crash. The Brazilian real: crash. There are multiple, complex, parallel vectors at play in this wilderness of crashing currencies. Turkey’s case is heavily influenced by the bubble of easy credit created by European banks. Argentina’s problem is mostly to do with the neoliberal austerity […]