Showing posts with label Turkish Investment Fund. Show all posts
Showing posts with label Turkish Investment Fund. Show all posts

Sunday, March 10, 2013

Patrick Cockburn on Iraq Ten Years After

For a good rundown on current politics in Iraq check out Patrick Cockburn's article, "Death and Dollars in the New Iraq: The Shia and the Kurds 10 Years After the Invasion," posted on the Counterpunch website this weekend. Some highlights: Iran is ready to wash its hands of Maliki (at least by the 2014 parliamentary elections); Muqtada al-Sadr is still a power, shrewdly positioning the Sadrists and defending a unified Iraq; and Kurdistan is booming but might overplay its hand if it chooses to piss off Baghdad by going ahead with an oil pipeline to Turkey that is already under construction.

I recently sold all the stock I had in the Turkish Investment Fund (TKF). I held onto it for over five years. I bought in originally because I thought eventually Turkey, a great nation, the seat of the old Ottoman Empire, would be admitted to the eurozone; also, I thought that Turkey would absorb most of the trade with Iraq as it went through de-Baathification. I sold because I don't think the eurozone is going to survive; plus, I think Iran and Iraq are headed for some tough times as Syria continues to unravel. Syria's collapse is something that goes unmentioned in Cockburn's piece.