Quotes About Upswings

The received wisdom is that risk increases in the recession and falls in booms. In contrast, it may be more helpful to think of risk as increasing during upswings, as financial imbalances build up, and materializing in recessions.

Depression is internal. The upswings and downswings have pretty much nothing to do with what's going on in the external world. It's not like something sad happens to you and then you feel sad. Good things happen, but you feel sad anyway.