Russia and Turkey just escalated their two-front war over which country will be the big dog in the Middle East. The two rivals have been at this game for a couple of centuries, but it just got a lot more serious this week when Russia introduced jet fighters into the Libyan civil war.

Coronavirus may have shut down Texas beauty parlors and Louisiana bars, stopped international travel and cleared streets across the globe, but hasn’t brought war to a halt. Rather, Russia and Turkey are in the midst of a multifront proxy escalation in both Libya and Syria.

Russians have long memories. They recall when Imperial Russia fought Ottoman Turkey in the bloody Crimean War. Ottoman Muslim forces fought Christian Tsarist troops on the Black Sea peninsula, where more fighters fell to the Asiatic cholera epidemic than on the battlefield.

Turkey won. Russia today, however, once again occupies Crimea. The 19th-century Crimean War was the crucible in which were forged Russo-Turkish antagonisms and their 21st-century imperial dreams. READ MORE

Twenty-first century voodoo economic theories pushed worldwide by populist politicians are speeding the world to the edge of a global downturn. One by one, democratically elected leaders are taking down their smart economists and promoting their own questionable — and politically motivated — ideas about interest rates and banking practices.

Turkey and the United States are the latest nations whose presidents are pressuring or pushing out their reliable economic advisers, replacing them with ideological loyalists. These presidents’ makeshift monetary mumbo-jumbo is aimed at achieving short-term economic and political gain. As a result, corrections and recessions may be temporarily delayed, but continually loom right around the corner.

From Ankara to Washington, heads of state are demanding that their previously apolitical national bankers cut interest rates to grow their economies, spur investment and combat unemployment. The message to central bankers is clear: Drop the cost of money or lose your job. It’s not an idle threat. READ MORE

In fight for Libya, Russia and Turkey keep a 19th-century war on the front burner

Economics + politics + a dash of presidential ego = potential disaster