Erdogan’s Political War With Economic Reality

The United Arab Emirates’ de facto ruler heads to Turkey today on the highest level visit in years. It’s a welcome distraction for President Recep Tayyip Erdogan as he surveys the wreckage of his unorthodox economic policy.

The Turkish lira is suffering its longest losing streak in 20 years, prompting the central bank to say the currency’s slide was “completely detached from economic fundamentals.”