UH-HUH: Erdogan Shifts Blame for Turkey’s Woes to Social Media. “President, who had targeted U.S., now condemns ‘terrorists’ disseminating alleged disinformation about lira’s plunge, nation’s economic downturn.”

“There are economic terrorists on social media,” Mr. Erdogan told an audience of Turkish ambassadors gathered in Ankara’s presidential palace. “They are a genuine network of treason.”

The president said spiteful social-network posts had been spread in a bid to cause panic by saying authorities were preparing to limit bank withdrawals. The government said it had no plan to introduce capital controls.

Also on Monday, Turkey’s Interior Ministry said it would take legal action against owners of 346 social-media accounts identified as having been used to express views that had harmed the lira, the state-run news service, Anadolu Agency, reported.

Yesterday Iain Murray linked to a piece stating that “It is not clear that Erdogan understands basic economics.” But that’s not quite right. It is actually quite clear that Erdogan doesn’t understand basic economics.