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Turkey’s currency collapse shows just how vulnerable its economy is to a crisis

If you happen to be a tourist in Turkey right now, consider yourself lucky.

Otherwise, things look grim.

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The Turkish lira has lost as much as a third of its value relative to the U.S. dollar in less than a month and recently hit a record low.

As a result, all imported goods became more expensive practically overnight.

Katat 4dAnd because Turkey is heavily dependent on foreign goods, most everything was affected, including gasoline, food, furniture and clothing.

Turks are worried that more price hikes and possible shortages of imported medicine are on the way.

The catalyst for the…

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