Monday Macro: Turkey, core 12 month view, commercial real estate holds up, what next for natural gas markets

A quick note on the Turkish elections, plus why I think trickle up fiscal policy spells a decade of more redistribution, higher wealth taxes, and more handouts. It might even be good for investors.

Photo by Meg Jerrard on Unsplash

I realize on Monday I usually focus on macro stuff but I felt I couldn’t avoid a quick observation on the Turkish result and what looks likely to be another win by President Erdogan. Like many, I think the result here is important for the rest of us largely because Erdogan, I would argue, has perfected a brilliant populis…