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☆ Erdogan criticises top Turkey court, stoking 'judicial crisis'
▼ + stars: | 2023-11-10 | by ( Ece Toksabay | ) www.reuters.com time to read: +4 min

Murat... Acquire Licensing Rights Read moreANKARA, Nov 10 (Reuters) - Turkish President Tayyip Erdogan waded into a brewing judicial crisis on Friday, criticising the Constitutional Court for "many mistakes" and backing an unprecedented challenge to it by an appeals court, as opponents marched in Ankara. In a twist - which critics said highlighted the diminished state of Turkey's legal system - the top appeals court said the Constituional Court's ruling was unconstitutional. "The Constitutional Court cannot and should not underestimate the step taken by the Court of Cassation on this matter," he said. They were headed to the appeals court and video showed they were briefly delayed by police. "The Court of Cassation's backlash (...) is an open and combative attack against the Constitutional Court," said Bertil Oder, professor of constitutional law at Koc University.

Persons: Tayyip Erdogan, Ozgur Ozel, Mustafa Kemal Ataturk, Murat, Tayyip Erdogan waded, Erdogan, Osman, Bertil Oder, intimidates, Ezgi Erkoyun, Jonathan Spicer, Emelia Sithole Organizations: Republican People's Party, Cassation, Constitutional, AK Party, Union, Koc University, Thomson Locations: Ankara, Turkey, ANKARA, Uzbekistan

The top appeals court, or Yargitay, took the unprecedented step of making a criminal complaint against Constitutional Court judges on Wednesday, arguing that their ruling last month in favour of releasing Atalay was unconstitutional. "The Court of Cassation (Yargitay) has committed a crime by not recognising the Constitutional Court decision. He called for compliance with the Constitutional Court ruling and said the Yargitay appeals court judges should be put under investigation. The Istanbul Bar Association said on Thursday it had filed a criminal complaint against the Yargitay judges involved in the case on the grounds of misconduct and "depriving a person of liberty". Rule of law, predictability and trust are fundamental for investors and Turkey’s record in this front was and still is miserable."

Persons: Erkan, Sera Kadigil, Ahmet Sik, Umit, Osman, Tayyip Erdogan, Ozgur Urfa, Erdogan, Mehmet Ucum, Mehmet Simsek, Central Bank Governor Hafize Gaye Erkan, Wolfango Piccoli, Daren Butler, Alex Richardson Organizations: Workers ' Party of Turkey, Turkish, REUTERS, Rights, Constitutional, Cassation, Twitter, Istanbul Bar Association, Central Bank Governor, Ece, Thomson Locations: Ankara, Turkey, Rights ANKARA, Istanbul

☆ Russia puts Pussy Riot member on international wanted list - TASS
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

Russian punk music group Pussy Riot, critical of the country's regime, perform during their anti-war concert tour, amid Russia's invasion of Ukraine, at Shedhalle concert hall in Berlin, Germany May 12, 2022. REUTERS/Annegret Hilse/ File Photo Acquire Licensing RightsMOSCOW, Nov 7 (Reuters) - A Moscow court on Tuesday put Lyusya Shtein, a member of Pussy Riot who fled abroad, on an international wanted list for spreading knowingly "fake" information about the Russian armed forces, state news agency TASS reported. Pussy Riot, a feminist opposition group, rose to prominence by donning balaclavas and storming into Moscow's Christ the Saviour Cathedral in Feb. 2012, shouting out a song against Putin. While in Russia, Shtein was repeatedly arrested by Russian police for participating in protest rallies. During one of these arrests in December 2021, Shtein, along with another Pussy Riot member Maria Alyokhina, went on hunger strike.

Persons: Annegret, Lyusya, Pussy, Vladimir Putin, Shtein, Putin, Maria Alyokhina, Guy Faulconbridge Organizations: REUTERS, Rights, Pussy Riot, Reuters, Thomson Locations: Ukraine, Berlin, Germany, Moscow, Russia, Moscow's, Shtein

☆ Former Vice President Pence quits the presidential race after struggling to gain traction. 'This is not my time,' he says
▼ + stars: | 2023-10-28 | by ( ) www.cnbc.com time to read: +6 min

Former Vice President Mike Pence on Saturday dropped his bid for the Republican presidential nomination, ending his campaign for the White House after struggling to raise money and gain traction in the polls. "So after much prayer and deliberation, I have decided to suspend my campaign for president effective today." A former vice president would typically be seen as a formidable challenger in any primary, but Pence has struggled to find a base of support. Pence did not immediately endorse any of his rivals, but continued to echo language he has used to criticize Trump. But even in Iowa, Pence struggled to gain traction.

Persons: Mike Pence, Pence, Donald Trump, Trump, Lincoln, Mike Huckabee, Rick Santorum, Karen Organizations: Republican, White House, Republican Jewish, Trump, Associated Press, NORC, for Public Affairs Research, Indiana, Arkansas Gov, Republican Party, Las, The Heritage Foundation, Social Security Locations: Las Vegas, Iowa, Miami, U.S, Israel

NEW YORK (AP) — Former Vice President Mike Pence on Saturday dropped his bid for the Republican presidential nomination, ending his campaign for the White House after struggling to raise money and gain traction in the polls. “After much prayer and deliberation, I have decided to suspend my campaign for president effective today," Pence said at the Republican Jewish Coalition gathering in Las Vegas. Pence becomes the first major candidate to leave a race that has been dominated by his former boss-turned-rival, Donald Trump. But even in Iowa, Pence struggled to gain traction. Pence ended September with just $1.18 million in the bank and $621,000 in debt, according to his most recent campaign filing.

Persons: —, Mike Pence, Pence, Donald Trump, Trump, Trump’s, Mike Huckabee, Rick Santorum, Karen Organizations: Republican, White House, Republican Jewish Coalition, Trump, Associated Press, NORC, for Public Affairs Research, Indiana, Arkansas Gov, Republican Party, The Heritage Foundation, Social Security Locations: Las Vegas, Iowa, Miami, U.S, Israel

☆ U.S. Tries New Tack on Russian Disinformation: Pre-Empting It
▼ + stars: | 2023-10-26 | by ( Steven Lee Myers | More About Steven Lee Myers | ) www.nytimes.com time to read: +1 min

An article that appeared in August on an international news outlet, Pressenza, recycled a false Russian claim that the West was looting religious relics and art from a monastery in Ukraine’s capital, Kyiv, one of the holiest sites in Russian Orthodoxy. The article stands out, U.S. officials said, not because of what it claimed — but because of its source and intended audience. State Department officials have linked the article to what they describe as a covert information operation to spread Russia propaganda in Central and South America by producing articles that appear to originate with local media organizations, not the Russian government. The operation is nascent, but the department’s Global Engagement Center is disclosing the influence campaign in hopes of blunting its effect in a region where Russia has sought to discredit the United States and erode international support for Ukraine.

Organizations: State Department Locations: Ukraine’s, Kyiv, Orthodoxy, Russia, Central, South America, Russian, United States, Ukraine

☆ Opinion: Restaurants should end tipping for good
▼ + stars: | 2023-10-24 | by ( Opinion Corey Mintz | ) edition.cnn.com time to read: +6 min

The Wall Street Journal described this as Chicago eliminating the “tips-as-wage system,” which makes it sound like a ban on tipping. It’s a shame, because tipping has always been a scam that enables restaurants to suppress labor costs, which keeps menu prices down. Tipping emerged as a model for employing formerly enslaved Black workers without having to pay them a real wage, if anything at all. Instead, restaurants should pay a living wage (if the revenue does not cover the actual cost of labor, what kind of business is it? Despite today’s dire labor shortage, precious few restaurants seem willing to re-examine their employment model in order to address it.

Persons: Corey Mintz, CNN — It’s, Jaime Hogge, Steve Hanke, Nick Kokonas, ” Kokonas, “, Tipping, North America wouldn’t, ” Organizations: Public Affairs, CNN, Twitter, Chicago Locations: Chicago, Toronto , Ontario, North America

That shift in legal doctrine was profound, shaping how courts have applied antitrust law ever since. Khan’s ideas have challenged the closest thing to a sacred cow in antitrust law. The most ambitious of those never became law, but Khan’s role in the probe, which Cicilline described as “critical,” helped further raise her profile. Amazon and Meta have both pushed for Khan to recuse herself from matters involving the companies, questioning her objectivity. The US Federal Trade Commission sued Amazon.com Inc. in a long-anticipated antitrust case, accusing the e-commerce giant of monopolizing online marketplace services by degrading quality for shoppers and overcharging sellers.

Persons: Lina Khan, Khan, Stephanie Keith, ” Khan, “, Joe Biden, ”, William Kovacic, George W, Bush, Barry Lynn, Lynn, New America Foundation —, Obama, —, ” Lina Khan, Rong Xu, ” Lynn, it’s, ’ ”, Reagan, Robert Hockett, Khan’s, David Cicilline, Lina, ” Cicilline, Cicilline, Justin Tallis, Biden, Trump, Douglas Farrar, Gary Gensler, Tom Williams, Jonathan Kanter, Roe, Wade, Kevin Kiley, Meta, she’s, “ We’ve, they’re, Federal Trade Commission Lina Khan, Al Drago, Kathleen Bradish, Bradish, Christine Wilson, Wilson, Noah Phillips, Gabby Jones, NetChoice, Carl Szabo, “ It’s, ” Szabo, There’s, ” Kovacic Organizations: CNN, Federal Trade Commission, Amazon, FTC, Big, Microsoft, Meta, Bloomberg, Getty, Republican, White House, Williams College, New America Foundation, Washington Monthly, Yale Law, Washington Post, Cornell Law School, Big Tech, Rhode, Rhode Island Democratic, Apple, Facebook, Cambridge, Activision, SEC, Financial Services, General Government, Securities and Exchange Commission, Capitol, Justice Department, Epic Games, California Republican, Washington , D.C, American Antitrust Institute, GOP, US Federal Trade Commission, Amazon.com Inc Locations: Big Tech, Robbinsville , New Jersey, Washington, Larchmont , New York, Rhode Island, Washington ,, New York

Private credit players like HPS Investment Partners and Blue Owl Capital (OWL.N) have a workaround, but it could prompt a painful hangover. Cashed-up private credit funds offered sums previously unseen outside of traditional bank financing on riskier deals. Private credit assets swelled 460% to over $1.4 trillion between 2010 and the end of 2022, Preqin says. Reuters GraphicsThe attraction of “mezz” and similar exotic lending isn’t just that it helps private credit source new deals. In 2021, that dynamic meant private loans briefly became cheaper than liquid, tradable loans – flying in the face of financial orthodoxy.

Persons: –, Zendesk, Preqin, LSEG, HPS, Goldman, Blackstone, Angelo Gordon, dealmaking, George Hay, Oliver Taslic Organizations: Reuters, HPS Investment Partners, Owl, Blackstone, Apollo, Treasury, Private, Management, Partners, Reuters Graphics Reuters, Sabre, Companies, Wolf, ADC Therapeutics, Equity, Thomson Locations: EBITDA

☆ Pope set for another row with conservatives at bishops' summit
▼ + stars: | 2023-10-03 | by ( Alvise Armellini | ) www.reuters.com time to read: +3 min

Pope Francis looks on as he meets with French President Emmanuel Macron (not pictured) at the Palais du Pharo, on the occasion of the Mediterranean Meetings (MED 2023), in Marseille, France September 23, 2023. Andreas Solaro/Pool via REUTERS/File Photo Acquire Licensing RightsVATICAN CITY, Oct 4 (Reuters) - Pope Francis on Wednesday opens a global summit of bishops on potentially momentous issues for the Roman Catholic Church, including the role of women and its attitude towards LGBT people. To the chagrin of conservatives, it does not explicitly mention abortion, euthanasia, and the defence of the traditional family. A papal document will follow, most likely in 2025, meaning changes in Church teaching, if any, would be a long way off. In one, the pope hinted at the possibility of allowing priests to bless same-sex couples on a case-by-case basis.

Persons: Pope Francis, Emmanuel Macron, Andreas Solaro, Francis, Father Gerald Murray, Cardinal Raymond Burke, Burke, Murray, Jesus, Alvise Armellini, Matthew Lewis Organizations: CITY, Roman Catholic Church, Catholic, EWTN, Churches, Church, Thomson Locations: Marseille, France, Rome, St Peter's, Asia, Europe, Africa, United States, America, Vatican

[1/5] A woman mourns next to a makeshift memorial for Yevgeny Prigozhin, head of the Wagner mercenary group, as people mark 40 days since his death to respect an Orthodox tradition, in Saint Petersburg, Russia, October 1, 2023. It is still unclear what caused the plane to crash two months to the day since Prigozhin's failed mutiny. The Kremlin said on Aug. 30 that investigators were considering the possibility that the plane was downed on purpose. At memorials in Moscow and other Russian cities dozens of Wagner fighters and ordinary Russians paid their respects, though there was no mass outpouring of grief. Putin was on Friday shown meeting one of the most senior former commanders of the Wagner mercenary group and discussing how best to use "volunteer units" in the Ukraine war.

Persons: Yevgeny Prigozhin, Wagner, Anton Vaganov, Prigozhin, Prigozhin's, Violetta, Pavel, Vladimir Putin's, Putin, Mikhail, Marta, Dmitry Utkin, Hope, Anton Yelizarov, Guy Faulconbridge, Alison Williams Organizations: REUTERS, State, Embraer, KGB, Reuters, United States, Thomson Locations: Saint Petersburg, Russia, MOSCOW, St Petersburg, Moscow, Ukraine, Rostov, Mali

☆ Armenian priest fears for Karabakh's Christian heritage amid mass exodus
▼ + stars: | 2023-09-27 | by ( Felix Light | ) www.reuters.com time to read: +5 min

Azerbaijan launched a lightning offensive last week to retake the whole region, prompting a mass Armenian exodus. More than 50,000 people had crossed the border into Armenia by early Wednesday afternoon, nearly half of Karabakh's estimated 120,000 ethnic Armenians. Prior to last week's offensive, the Karabakh Armenians had lived under an effective 10-month Azerbaijani blockade which had led to chronic shortages of food, fuel and medicines. ANCIENT CHRISTIAN LANDConflict in the region between Armenians and Azeris goes back more than a century. There are churches in Azerbaijan which the authorities say are Caucasian Albanian rather than Armenians, something Armenians strongly dispute.

Persons: David, Irakli, Priest, Father David, Gareth Jones, William Maclean Organizations: REUTERS, Reuters, Azerbaijan, Turkey, Christianity, Thomson Locations: Goris, Nagorno, Karabakh, Kornidzor, Armenia, KORNIDZOR, Azerbaijan, Republic of Artsakh, Soviet Union, Baku, Shusha, Moscow, Russian, Armenia's, Albania, Albanian, Turkey, Iran, Ottoman Turks

☆ Turkey's central bank hikes interest rate to 30%
▼ + stars: | 2023-09-21 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

Turkey's Taksim Square, with the figure of Kemal Ataturk, the first president, and the Turkish flag in the background. Turkey's central bank hiked its key interest rate to 30% on Thursday, a 500-basis point jump from 25%, as Ankara continues to battle double-digit inflation. Traditional economic orthodoxy holds that rates must be raised to cool inflation, but Erdogan — a self-declared "enemy" of interest rates who calls the tool "the mother of all evil" — vocally espoused a strategy of lowering rates instead. After starting on its hiking path, the central bank in July stated its aim to get inflation down to 5% in the medium term — an ambitious forecast, as Turkey's annual inflation jumped to near 59% in August. Ankara now expects annual inflation to reach 65% at the end of 2023, up from a forecast of 24.9% a year ago.

Persons: Turkey's, Kemal Ataturk, Recep Tayyip Erdogan, Erdogan —, — Organizations: Turkish, greenback Locations: Ankara, Istanbul, Turkey

☆ Urgency Grows for DeSantis in Iowa as Trump Looks to Finish Him Off
▼ + stars: | 2023-09-19 | by ( Nicholas Nehamas | More About Nicholas Nehamas | ) www.nytimes.com time to read: +1 min

Ron DeSantis of Florida is doing everything that a Republican presidential candidate should do to win Iowa. His super PAC is building a formidable get-out-the-vote operation and says it has reserved $13 million in television ads in Iowa through Thanksgiving. For Mr. DeSantis, who is trailing former President Donald J. Trump in Iowa by double digits, the state has become a must-win. Mr. Trump, who has campaigned sparingly here, appears to know it. The other is his lack of light-up-the-room charisma and folksy authenticity, qualities that seem required, at a minimum, to beat an established star like Mr. Trump.

Persons: Ron DeSantis, DeSantis, Donald J, Trump, DeSantis’s, — Organizations: Republican, Iowa, Trump Locations: Florida, Iowa

☆ AI-Driven Cataclysm Could Rock the Job Market: Top Economist
▼ + stars: | 2023-09-18 | by ( Aki Ito | ) www.businessinsider.com time to read: +33 min

Over the course of three conversations this summer, Acemoglu told me he's worried we're currently hurtling down a road that will end in catastrophe. "There's a fair likelihood that if we don't do a course correction, we're going to have a truly two-tier system," Acemoglu told me. "I was following the canon of economic models, and in all of these models, technological change is the main mover of GDP per capita and wages," Acemoglu told me. In later empirical work, Acemoglu and Restrepo showed that that was exactly what had happened. "I realize this is a very, very tall order," Acemoglu told me.

Persons: who's, Katya Klinova, Daron Acemoglu, Simon Johnson, Acemoglu, Johnson, we've, he's, we're, Power, James Robinson, —, Robinson, David Autor, Pascual Restrepo, Restrepo, John Maynard Keynes, Simon Simard, Lord Byron, Eric Van Den Brulle, hasn't, it's, Gita Gopinath, Paul Romer, Romer, What's, Daron, GPT, Asu Ozdaglar, It's, Mark Madeo, Tattong, Erik Brynjolfsson, Brynjolfsson, There's, Yoshua Bengio, Yuval Noah Harari, Andrew Yang, Elon Musk, I've, That's, Aki Ito Organizations: Getty, MIT, of Technology, Hulton, London School of Economics, Stagecoach, Technology, —, International Monetary Fund, Microsoft, Asu, Companies, Computer, Greenpeace, Communications, Big Tech, Workers Locations: Silicon Valley, America, Boston, Istanbul, Turkey, Acemoglu, England, United States, Britain, Australia

☆ Turkey hikes inflation view on path to policy orthodoxy
▼ + stars: | 2023-09-06 | by ( Huseyin Hayatsever | ) www.reuters.com time to read: +3 min

Presenting the new forecasts, Erdogan said that tight monetary policy would lower inflation to single digits, adding Turkey will not compromise on economic expansion as policies are adjusted. It trimmed GDP growth forecasts to 4.4% this year and 4% next year, which is still higher than most economists expect, from 5% and 5.5% previously. The economy is expected to slow through year-end - and ahead of nationwide municipal elections set for March next year - as stimulus tied to the May elections fades and as the policy rate hikes, to 25% from 8.5%, start to weigh. A Reuters poll last month showed expectations of 2.9% full-year growth, lower than trend in the emerging market economy that seeks to reverse a years-long exodus of foreign investors. Inflation will "be very high for an extended period of time, which will trigger second-round effects such as wage settlements."

Persons: Tayyip Erdogan, Vladimir Putin, Mikhail Klimentyev, Erdogan, Tatha Ghose, Huseyin Hayatsever, Jonathan Spicer, Peter Graff, Alexandra Hudson Organizations: Sputnik, REUTERS Acquire, Reuters, AK, Ece Toksabay, Alexandra Hudson Our, Thomson Locations: Sochi, Russia, Kremlin, ANKARA, Turkey, Istanbul, Ankara

Turkey's Central Bank headquarters is seen in Ankara, Turkey in this January 24, 2014 file photo. Yet five foreign investors told Reuters that this week's rate hike signalled a new independence among policymakers who are serious about addressing unrelenting pressure on the currency and reining in inflation expectations. "It feels like they are correcting the mistakes they made with their first rate hike decisions," said Viktor Szabo, portfolio manager at abrdn in London. Erdogan, who has fired four central bank chiefs in four years, has said little about the rate hikes. Reuters GraphicsTurkish stock, Eurobond and CDS markets are more attractive targets this year and next, especially after the rate hike, investors and officials say.

Persons: Umit, Erdogan's unorthodoxy, Mehmet Simsek, Goldman Sachs, Tayyip Erdogan's, Viktor Szabo, Ola El, Van Eck, ERDOGAN, Erdogan, Simsek, Hafize Gaye Erkan, Cevdet Yilmaz, Blaise Antin, TCW, Kaan, Neuberger Berman, Jonathan Spicer, Marc Jones, Jorgelina, Hugh Lawson Organizations: Turkey's Central Bank, Finance, Goldman, Reuters, abrdn, Emerging Markets, Wall Street, JPMorgan, Reuters Graphics, CDS, Yeni, United Nations, International Monetary Fund, Thomson Locations: Ankara, Turkey, ANKARA, LONDON, New York, London, Van, Los Angeles, Reuters Graphics Turkish, Yeni Safak, Morocco, Japan, Singapore, Hong Kong, Istanbul, Rosario

☆ Opinion | Nikki Haley Is the Best Trump Alternative
▼ + stars: | 2023-08-24 | by ( David Brooks | ) www.nytimes.com time to read: +2 min

She was the candidate brave enough to state the obvious truth that Trump took decades of G.O.P. The other candidates assumed the usual conservative postures about cutting taxes and spending, but she introduced the reality: Under Trump, the G.O.P. She seems to be one of the few candidates who understands that to run against Trump you have to run against Trump. Haley, by contrast, seems to believe that voters are intelligent enough to be treated as adults. But if any of my friends and acquaintances want to stop Trump, this is their moment to give Haley her chance.

Persons: Trump, Ron DeSantis, Haley, Saul Bellow, Ramaswamy, Mike Pence, Pence, Reagan, haven’t Organizations: Trump, Republican, hokum, Tea Party

☆ VIEW Turkey cements policy shift with super-sized rate hike
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +5 min

A logo of Turkey's Central Bank is pictured at the entrance of its headquarters in Ankara, Turkey October 15, 2021. "We should recall that sudden changes in interest rates usually have a delayed effect. "This was also the steepest rate hike since the CBT management reshuffle after the elections in May. We think the strong rate hike meant to address market concerns that the CBT wanted to avoid significant rate hike." TIMOTHY ASH, BLUEBAY ASSET MANAGEMENT, LONDON"Really solid move by the CBRT (central bank) to hike policy rates arguably above expectations by 750bps to 25%."

Persons: Cagla, GRZEGORZ DROZDZ, TIMOTHY ASH, 750bps, Hatice Karahan, Hatice Gaye, PIOTR MATYS, Governor Erkan, Erdogan, LIAM PEACH, Erkan, OZKARDESKAYA, SWISSQUOTE Organizations: Turkey's Central, REUTERS, Reuters, Thomson Locations: Ankara, Turkey, Turkish, EMERGINGMARKETWATCH.COM, SOFIA, GENEVA

☆ Opinion | ‘They Are Not Going to Settle for the Second-Best Trump’
▼ + stars: | 2023-08-23 | by ( Thomas B. Edsall | ) www.nytimes.com time to read: +4 min

DeSantis saying he’s going to start “slitting throats” reminded me of Romney’s “severely conservative.” While DeSantis’s is a dangerous escalation of violent imagery, they both sound bizarre and unnatural. At a more fundamental level, Bateman wrote:It’s not at all clear that what most Republican voters (rather than donors) want is a mainstream and party credentialed version of Trump. The problem with this approach, Ayres continued, is that “the Always Trump voters are ‘Always Trump’ for a reason — they are not going to settle for the second-best Trump if they can get the real thing.”Geoff Garin, a Democratic pollster, wrote:There is no room for DeSantis or anyone else to outflank Trump on the right, where Trump has his most loyal base. Candidates can argue that Trump is insufficiently conservative on some issues, but that it not the point for Trump loyalists. Candidates can try to echo the ugliness of Trump’s rhetoric, but that too misses what really draws these voters to Trump.

Persons: Trump, Romney’s “, Bateman, It’s, Trump’s, ” David O, Sears, “, Archie Bunker, Whit Ayres, Republican pollster, DeSantis, RFK Jr, Ayres, Geoff Garin, MAGA, Frances Lee, ” Lee, ” Organizations: Yale, Harvard, Trump, Republican, Derby, Wimbledon, NPR, Ivy League, for Disease Control, Democratic, Trump loyalists, Republicans Locations: Ukraine, Princeton

☆ Opinion | The Irony in the ‘Rich Men North of Richmond’
▼ + stars: | 2023-08-19 | by ( Jamelle Bouie | ) www.nytimes.com time to read: +2 min

You may have heard about Oliver Anthony, a Virginia-based folk singer who has become a conservative folk hero on account of his populist anthem, “Rich Men North of Richmond.”But Anthony’s populism is, as Eric Levitz details for New York magazine, decidedly right-wing. Resentment of inequality and the precariousness of working-class life pervades the rest of the song too. But Anthony persistently channels these resentments away from the bosses and shareholders who profited off his ill-compensated labor and onto targets sanctioned by conservative orthodoxy: tax-hiking politicians, pedophilic cabals, and obese welfare moochers. I don’t have any particular interest in either Anthony or the song in question (although Levitz’s piece is good and you should read it). One of the most common misconceptions about Jim Crow is that it came directly out of the defeat of Reconstruction.

Persons: Oliver Anthony, “ Rich, Eric Levitz, Anthony, pedophilic cabals, Jim Crow, ” Organizations: North, New York Locations: Virginia, Richmond, Farmville, Va, —, Petersburg, In Virginia

The sustained inflationary pressure, driven by a lira drop and tax hikes, comes as President Tayyip Erdogan's new finance minister and central bank chief orchestrate a policy U-turn including interest rate hikes that are expected to slow domestic demand. But in the meantime the U-turn has hammered the currency and left authorities asking already-stretched households for patience. In July, consumer prices soared nearly 10% sequentially due to tax hikes and a lira crash. This month, forecasts by five economists show them rising between 5.5% and 8.5%, with fallout from mid-July tax hikes lagging into August. After years of divergence with market expectations, the central bank matched those last month when it raised its end-2023 annual inflation forecast to 58.0% from a previous 22.3%.

Persons: Erdogan, Tayyip Erdogan's, Hafize Gaye Erkan, Erdogan's, Erkan, Mehmet Simsek, Moody's, Daren Butler, Jonathan Spicer, Toby Chopra Organizations: Turkish Statistical Institute, Thomson Locations: Erdogan ANKARA, Istanbul, Turkey's

☆ Trump Indictment Presents New Obstacle in Spending Fight as Shutdown Looms
▼ + stars: | 2023-08-04 | by ( Carl Hulse | More About Carl Hulse | ) www.nytimes.com time to read: +2 min

House Democrats already uniformly oppose the emerging spending bills since they are below the spending levels agreed to by Mr. Biden and Mr. McCarthy in their deal to suspend the federal debt limit and contain numerous conservative policy riders they find objectionable. Should conservatives prevail in their insistence on even deeper cuts and other restrictions on federal law enforcement, it could drive off more mainstream Republican votes. is a stark break with the traditional Republican orthodoxy of strong support for law enforcement. It has little traction in the Senate, where Democrats and Republicans have been working in a bipartisan fashion to advance spending bills for consideration when the Senate returns next month. Most senators of both parties would be opposed to entertaining the sort of spending reductions for law enforcement sought by the House conservatives.

Persons: Biden, McCarthy, Greene, “, ”, Susan Collins of, Trump Organizations: Republican, Senate, Republicans, of Justice, Freedom Caucus Locations: Susan Collins of Maine, Russia, “

But it was the repeated use of the word holistic - or "bütüncül" - by the former Goldman Sachs banker and Turkey's first female central bank chief that caught most of the attention. "We are making the gradual and steady rate hikes more holistic and stronger through quantitative tightening and selective credit tightening," Erkan told the news conference. "Unless the credit and monetary tightening really kick in, investors would expect the central bank to hike more aggressively," he said. "She clearly wants to be the face of Turkish monetary policy making," said Neuberger Berman's Nazli. "We saw a person who seems to be capable of being a central bank governor, compared to previous governors, but cautious."

Persons: Goldman Sachs, Hafize Gaye Erkan, Erkan, Tayyip Erdogan, Turkey's, Kaan Nazli, Neuberger Berman, policymaker Mehmet Simsek, Tim Ash, Erdogan, Ash, Marek Drimal, Neuberger Berman's Nazli, swerved, Emre Akcakmak, Karin Strohecker, Libby George, Tomasz Janowski Organizations: Turkey's, Ministry, BlueBay Asset Management, Societe Generale, East Capital, Thomson Locations: Rosario, London

☆ Turkey's Erdogan appoints three deputy governors to central bank
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

[1/2] Turkish President Tayyip Erdogan addresses supporters at the Presidential Palace after his victory in the second round of the presidential election, Ankara, Turkey, May 29, 2023. REUTERS/Umit Bektas/File PhotoISTANBUL, July 28 (Reuters) - Turkish's President Tayyip Erdogan named three deputy governors to the central bank, the country's official gazette said early on Friday, hours after the bank vowed to continue gradual monetary tightening and raised its end-2023 inflation forecast. Osman Cevdet Akcay, Fatih Karahan and Hatice Karahan were appointed as deputy central bank governors, according to a decision published in the official gazette. On Thursday, Turkey's central bank raised its end-2023 inflation forecast sharply to 58% and said it would continue monetary tightening. In what is seen as a pivot to economic orthodoxy, Erdogan appointed Mehmet Simsek as finance minister and Erkan as central bank governor shortly after his re-election in May.

Persons: Tayyip Erdogan, Umit, Osman Cevdet Akcay, Fatih Karahan, Hatice Karahan, Yapi, Hafize Gaye Erkan, Erdogan, Mehmet Simsek, Emrah Sener, Taha Cakmak, Mustafa Duman, Ezgi Erkoyun, Leslie Adler, Jamie Freed Organizations: REUTERS, Federal Reserve Bank of New, Amazon, Thomson Locations: Ankara, Turkey, ISTANBUL, Federal Reserve Bank of New York, Turkey's

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