Erdoan Wants to Revise the Treaty of Lausanne

The War Cycle is in full swing upward since 2014. We have witnessed the invasion of Ukraine, the invasion of Syria, Rocketman in North Korea, and numerous civil uprisings. However, the war also comes with sharply declining economies as political leaders need to point the finger outside their domestic rule to distract their people.
The Turkish President Recep Tayyip Erdoan is also on a power trip and the sharply collapsing currency only puts more pressure on him to start conflicts. That basic incentive has played out with his visit to Greece in December. This was the first time a Turkish leader visited Greece in 65 years. As the Guardian reports, Erdoan shocked Greece by calling for a revision of the Lausanne Treaty of 1923. The Turkish president in Turkey has sharply criticized the opposition for this demand and as always there is the justification for protecting people of Turkish origin living in Greece. Hitler used the same excuse to invade neighbors to defend Germans living on foreign lands.

This post was published at Armstrong Economics on Dec 28, 2017.

26/12/17: U.S. Wars Budgets: More Lessons Never Learned

An interesting report on the official accounts for war-related spending in the U. S. is available here: Which is, of course, a massive under-estimate of the full cost of 2001-2017 wars to the U. S. taxpayers.
It is worth remembering that war-related expenditures are outside discretionary budgetary allocations (follow links here: And you can read more here: The problem, as I repeatedly pointed out, is that no one can tell us what exactly – aside from misery, failed states, collapsed economies, piles of dead bodies etc – did these expenditures achieve, or for that matter what did all the adventurous entanglements the U. S. got into in recent year deliver? In Afghanistan, Libya, Yemen and Syria, in Pakistan and Sudan, in Ukraine, in Somalia and Egypt. The sole bright spot on the U. S. ‘policy horizon’ is Kurdistan. But the problem is, the U. S. has been quietly undermining its main ally in the Syria-Iraq-Turkey sub-region in recent years. In South China Seas, Beijing is fully running the show, as multi-billion U. S. hardware bobbles up and down the waves to no effect. In North Korea, a villain with a bucket of uranium is in charge, and Iran is standing strong. In its historical backyard of Latin America, the U. S. is now confronting growing Chinese influence, while losing allies.

This post was published at True Economics on Tuesday, December 26, 2017.