Ruchir Sharma
👤 Speaker
241
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Unhedged
How to surf turbulent markets
I said, we have tested all this.
Unhedged
How to surf turbulent markets
And none of this really works in explaining, but you get me like an interest rate increase of even 50 basis points, over half a percent, given the amount of debt you have in the system today.
Unhedged
How to surf turbulent markets
So firstly, the market did go down 20%.
Unhedged
How to surf turbulent markets
But here's the big thing, which is what I think.
Unhedged
How to surf turbulent markets
Two things happened which helped us.
Unhedged
How to surf turbulent markets
One, the amount of fiscal stimulus which came on.
Unhedged
How to surf turbulent markets
So it's like, you know, you have two levers in opposite direction.
Unhedged
How to surf turbulent markets
On one hand, like interest rates...
Unhedged
How to surf turbulent markets
On the other hand, you keep on spending.
Unhedged
How to surf turbulent markets
And this is under Biden as well, right?
Unhedged
How to surf turbulent markets
Which is that they kept on spending, spending, spending.