Ruchir Sharma on the 'overstimulated' U.S. economy: We saw the same playbook in China

[@nodata4662]

Kind of a cringe interview. Newsman kept trying to talk over the guest and then tell him his book is wrong in the same sentence as admitting he didn't even read the book!

[@Novacasa88]

No he was suggesting the title of the book was clickbait and that he assumed it really points to policy which is exactly what the author agreed.

[@CODINGMAN-bp1mu]

Bro tried to teach economics basics to Rockefeller chairman 💀

[@Rob_G716]

This CNBC host is in outer space. How do you not see what’s happening. The economy is in trouble!

[@rajamuhammadariffrajaadnan8115]

Looking forward to reading "What Went Wrong With Democracy" too.

[@GenomiMontavani]

comparing 2010's China economy to 2024 US economy is quite the stretch. China built thousands of empty buildings in cities with few residents, and then stayed extremely restrictive far longer than they should have after COVID. Also, it's the US economy.. just a wildly different situation.

[@Fgji230]

Pure capitalism. Is Pure human nature. You could easily say, what's wrong with us? Pure capitalism, means wars and the strong doing as they can, and the weak suffering as they will. Maybe this is how things are supposed to be. But we don't have to do things as "supposed" to be.

[@humancorp]

problem with capitalism is pollution, deforestation, loss of wildlife, addiction to pharma etc.

[@grandmiserthe3rd434]

Print .......Spend ......Crash .....!!!

[@coperezroman]

"We're learning a very bad lesson right now, and that is that it works -- all of this printing, all of this overstimulation. Nothing has come home to roost. You're not right yet." Making note of this hear if/when we here the roost.

[@malanalan1]

Capitalism has failed working people long time ago. Needs to be abolished.

[@theadchefer]

we’re just gonna act like the Great Depression never happened, that wasa glaring failure of capitalism

[@jaym9846]

The stimulation of excess funny money is better than coke. Thanks FED.

[@tommyboy1653]

To anyone wondering, the news guys name is Mike Hunt.

[@thomasmanning829]

"Capitalism" is the economic system which occurs at the individual level. Not the government level, except where government regulates government interference out of the individual's way.

[@ctzoomie]

If you use the US Treasury for "free stuff", political careers do extremely well (it also helps to have the US Media in your pocket too).

[@Fgji230]

It only works because of "American exceptionalism". Not going to work the same for economy like Cuba. Every economy is different, with it's own intricacies.

[@RJ-xi8cr]

Anchor was all over the place - underprepared & unnecessarily dominating.

[@michalfranczyk1241]

Works now..., because we are world currency, but music stops and when it stops we will be missing not one chair but 20% of chairs

[@headspaceandtiming2114]

This is all spot on and excellent analysis. Too change the path we are on requires tough medicine. This society doesn’t have the will or courage. It’s going to be very bad for a lot of people. Then they will have commentary shows like this taking about how bad people handed the downfall.

[@firstlast8258]

Too late for most 🤓 🖕

[@headspaceandtiming2114]

@@firstlast8258 you are spot on. If we play our cards right we can make a fortune off the coming fire sale.

[@royprovins7037]

There is not a currency in the world that goes on forever. Buy gold

[@prasvasu4217]

You don't live forever

[@LamarPassmore]

Chasing the high

[@ASimpleGoodLife]

This is a misleading or incomplete analysis. The real culprit for $2T+ increase in national debt is really the Tax Cuts and Jobs Act. Politicians will or are already working to extend its provisions in exchange for votes. If so, we can expect runaway future deficits, higher interest rates (bond vigilantes?) and ultimately national insolvency. That’s why the ultra rich are buying farm land, investing in hard assets overseas and securing secondary citizenships.

[@owls077]

Ruchir Sharma- I am looking forward to reading your book.

[@michaelmitchell2635]

Hmmm, shoulda, woulda, coulda........

[@martinjrtremblay]

Regulation has ruined capitalism… he lost time there.

[@Novacasa88]

Looking forward to reading this even if I find anything related to Rockefeller to be suspect.

[@blankjohnson6934]

Love Ruchir

[@Jackson-l3r]

The continuous accumulation of debt by the state without citizen input, primarily to service interest on existing debt, can be perceived as a form of theft against its citizens. This practice leads to higher inflation, eroding the value of citizens' savings and purchasing power. As a result, citizens may take action to protect themselves from this criminal activity. This evidence of theft against the state nullifies current policies, as citizens seek to defend themselves against the financial harm caused by inflation. Actions may include investing in assets that maintain value in the face of inflation, such as real estate or precious metals, or advocating for fiscal responsibility and transparency in government spending. Furthermore, citizens may explore potential legal recourse against the state for this criminal activity. This could involve challenging the constitutionality of debt accumulation without citizen input or pursuing legal action for damages resulting from inflation. Such legal challenges could aim to hold the government accountable for its actions and seek restitution for the financial harm caused to citizens. In essence, citizens are challenging the legitimacy of policies that perpetuate this cycle of debt and inflation, and are taking steps to safeguard their financial well-being while exploring avenues for legal recourse against the state.

[@Jackson-l3r]

Imagine the collective power of 300 million citizens taking legal recourse against the state for this criminal activity. Such a unified action could have profound implications for holding the government accountable and seeking restitution for the financial harm caused by inflation. The sheer scale of citizen involvement in legal action against the state would demonstrate a widespread recognition of the injustice and harm caused by the state's actions. It would put immense pressure on the government to address these concerns and enact meaningful reforms to prevent further financial harm to its citizens. This level of citizen engagement could also lead to significant changes in the political landscape, with policymakers compelled to listen to the voices of the people and implement policies that prioritize fiscal responsibility and transparency. Overall, the prospect of 300 million citizens taking legal recourse against the state for this criminal activity highlights the potential for collective action to bring about positive change and hold government institutions accountable to the people they serve.

[@Fgji230]

Rates are tight. Fiscal stimulus has allowed the economy to maintain the higher level. But the economy needs to flip to walking on its own. We need to maintain tightness so Fed can cut rates. And normalize the economy.

[@Ellesar925]

He's still not yet right😅

[@Nik-ik8mv]

More free market, free trade, "small government", trickle down austerity, right? No thanks!

[@Alpha-qh4sb]

Sepoy

[@trilokarora5998]

Dude is wrong most of the times

[@CrispinaSharma]

Richie ji you are too smart for this reporter.He do not have your kind of knowledge.😊😊😊

[@name10books-]

Free Palestine - Boycott Israel !!!

[@CrispinaSharma]

Richie sharma ji this journalist I Q is very low.He is unable to grasp

[@firstlast8258]

Speak for yourself 🤓 🖕

[@trusty099]

Mofo needs to learn some English first....

[@jofieraymond6528]

They were speaking English, many people have accents. They clearly speak more than one language which is something to be applauded and not ridiculed. Try being nicer

[@jonnagap87]

He wrote a bestseller and heads multiple organizations. What bestsellers have you written? Your name says a lot though

[@PCPC-z4t]

If that is your takeaway then you live a sad existence....

[@lookingjust987654321]

Biden corrupt? Naw