of these structural changes are with us for some time. And that means how much companies and countries adjust is really going to drive their relative performance. Now some countries like Russia, for example, Nigeria finally, though a number of others, the way they coped was they cut spending, government spending, but they also said, you know what, we're not going to waste our money keeping an exchange rate that's too expensive. The Saudis did not take that option. But it did help them avoid fiscal austerity that was even greater. Before we get into Saudi Arabia and sort of the national account, what has been the effect of this price on American companies, let's say shale companies, and how does that relate to their financing in the context of a rising interest rate environment potentially or supposedly or theoretically? How does that all play together? Yeah, your right to focus on financing because the fact that there was so much cheap financing was a major lifeline to many's (32/45)
You are viewing a single comment's thread from: