Turkey fact of the day

by  Tyler Cowen in

…the market value of all Turkish companies traded on the Istanbul Stock Exchange is less than that of McDonald’s Corp.

Here is more from Peter Coy on possible contagion.

Comments

Hadur

  Hide Replies

How many countries is this NOT true of?

EB

  Hide Replies

It may be true for all countries, but it's irrelevant for any particular one because only ex-post we will know. In Economics millions of papers have been written to predict all sorts of crises, but the authors know so little about particular countries that their conclusions are irrelevant. Tyler links to those papers as if they could be useful for understanding and predicting what is happening in particular countries, but Tyler knows so little or nothing about those countries that his speculations are just to entertain his idle readers. Never bet a dollar based on those speculations.

clockwork_prior

  Hide Replies

'that his speculations are just to entertain his idle readers'

Not just entertain - this is a first and primarily a PR operation for a certain public policy perspectives.

Thiago Ribeiro

  Hide Replies

So finally Americans have turned against Turkey as Bush I turned against Panama and Hungary, Eisenhower turned against Hungary and Clinton turned against Serbia.

God of Thunder

  Hide Replies

Perhaps we should have turned against Turkey 15 years ago, when their help would have been useful re: quelling unrest in Northern Iraq, but we didn’t. We have not turned against them now. Their financial incompetence has turned investors against them. As one economist put it, their vanity project economy under Erdogan is the cause.

Thiago Ribeiro

  Hide Replies

Americans have betrayed the Turks the same it betrayed the Hungarians, Batista, Marcelo Caetano, the "Poles", the South Vietnamese, the Shah, the Manchurians and Formosa.

Amerjcans are treacherous as a jackal.

Thiago Ribeiro

  Hide Replies

I hope that somedau the world will wake up to America's treachery and embrace Brazil as the true beacon of goodness and light in this wirld. As the Prophet Bandarra has written, the lion will rise and smite the serpent with its heel.

a clockwork orange

  Hide Replies

Thiago, you don't want light in there, you need the lion to rise WITHOUT your heel.

Jeff R

  Hide Replies

This almost says more about the US than Turkey. Why is there such a large market in this country for small, dried out, rubberized, beef patties smashed between over-sized pieces of bread?

Now if we were talking Five Guys' market cap.....

Anonymous

  Hide Replies

McDonald's is a multinational

bob

  Hide Replies

Five Guys is definitely better than McDonald's but its not a good burger. Its just a ball of congealed cheese with two grey patties. There fires however are great.

Moo cow

  Hide Replies

No, they arent. Five Guys is like the Dollar Shave Club of hamburgers.

Jeff R

  Hide Replies

Congealed grease is underrated.

Chip

  Hide Replies

Only 30% of McD’s revenue is from the US. About 40% is in Europe.

System 1 thinking strikes again.

msgkings

  Hide Replies

Actually McD's market cap is more a function of the market OUTSIDE the US, which is almost double their domestic revenue.

msgkings

  Hide Replies

Reply to Jeff R

Jeff R

  Hide Replies

Just a sad state affairs all around, I guess.

FG

  Hide Replies

Dumb question: does "traded on the Istanbul Stock Exchange" matter here? For example, maybe the star Turkish companies are not traded on the Istanbul Stock Exchange but are listed on the NYSE or something.

Moo cow

  Hide Replies

Can't answer that but here's another look.

http://www.economywatch.com/companies/forbes-list/turkey.html

FYI

  Hide Replies

All stock exchanges in South America are worth less than Apple... http://www.visualcapitalist.com/all-of-the-worlds-stock-exchanges-by-size/

Thiago Ribeiro

  Hide Replies

Such is life in Temer's Brasil

Thiago Ribeiro

  Hide Replies

Imposter! And liar!

Why do you always....

  Hide Replies

....take the bait?

Thiago Ribeiro

  Hide Replies

Maybe we should have hype as our foremost product. Maybe we should deal in sending American jobs to Red China. I am told it is a great line of work.

FYI

  Hide Replies

Oh sure, because jobs in Brazil are always plentiful! (Americans would be rioting with long term 13% unemployment). Not to mention the fact that Brazil really produces nothing unique. It is a giant soy farm, helped by a bit of oil (that for most part is not even explored properly) and that's about it.

Thiago Ribeiro

  Hide Replies

Brazil produces oranges, airplanes and weapons. Brazil has the biggest protein-producing company in the history of mankind. Brazil basically controls Burger Kjng, Heinz and Budweiser. Brazil is invesring heavily in blockchain research and plans to send an artificial satellite to space before next decade ends.

Brazil has never fought a war of aggression. Famous American statesman Dean Acheson has praised Brazil for its efforts for peace. Brazilian former senator and presidential candidate Ruy Barbosa said to French Nobel Prize winer Anatole France that Brazil favors world peace.

Ian Fellows

  Hide Replies

"invesring heavily in blockchain research"

HAHAHAHAHAHAHAHAHA!!!!!!!!!

I mean I have no problem with Brazil, but if they are putting a ton of chips into block chain, I wish them luck.

rayward

  Hide Replies

Howe many public companies are there in Turkey? It's actually small. FRED provides a number per million people, which is about five. In the U.S., it has dropped from about 30 in the 1990s to less than 15 today.

RafaelR

  Hide Replies

The US uses the stock market to a much higher degree than other countries. The ratio of stock market cap to GDP in the US is much higher than in any other region of the world.

Larry Siegel

  Hide Replies

The U.S. is in roughly the top five. https://data.worldbank.org/indicator/CM.MKT.LCAP.GD.ZS?view=chart. Details, details...

apoptosis

  Hide Replies

I was unaware of this excellent link - thank you

RafaelR

  Hide Replies

I said "regions" not countries. For only tiny countries like Switzerland, Hong Kong and Singapore manage to have stock market capitalization comparable to GDP to the continental sized country that is the US. The unit of comparison would be the city of New York market cap to GDP.

apoptosis

  Hide Replies

Macro Tourist on Turkey, and other emerging market dollar denominated borrowing increases over time.
https://www.themacrotourist.com/posts/2018/08/15/contagion/

Nato

  Hide Replies

Didn't Zuckerberg, personally, lose that much in just one Friday a few weeks back?

Comments for this post are closed