Quotes About Crises

Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending

the cycles of risk taking in the economy as following a pattern: stability and absence of crises encourage risk taking, complacency, and lowered awareness of the possibility of problems. Then

Our aversion to variability and desire for order, and our acting on those feelings, have helped precipitate severe crises. Making something artificially bigger (instead of letting it die early if it cannot survive stressors) makes it more and more vulnerable to a very severe collapse-as I showed with the Black Swan vulnerability associated with an increase in size.

stability is not good for the economy: firms become very weak during long periods of steady prosperity devoid of setbacks, and hidden vulnerabilities accumulate silently under the surface—so delaying crises is not a very good idea.

Which brings us to the largest fragilizer of society, and greatest generator of crises, absence of "skin in the game." Some become antifragile at the expense of others by getting the upside (or gains) from volatility, variations, and disorder and exposing others to the downside risks of losses or harm.

it makes them much less dependent on economic forecasts. This allowed them to shrug off later crises.2

Far too often, we have been told that the future will be wracked by crises of energy scarcity, when the problems our children will face will be due to its abundance.

Public crises, particularly those concerning life and death, offer demagogues ample opportunity to amass more power.

Blaming economic crises on "greed" is like blaming plane crashes on gravity. Certainly planes wouldn't crash if it wasn't for gravity. But when thousands of planes fly millions of miles every day without crashing, explaining why a particular plane crashed because of gravity gets you nowhere. Neither does talking about "greed," which is constant like gravity.

In sum, historical experience already shows that rich countries are not as "special" as some cheerleaders had been arguing, both when it comes to managing capital inflows and especially when it comes to banking crises.

The essence of the this-time-is-different syndrome is simple. It is rooted in the firmly held belief that financial crises are things that happen to other people in other countries at other times; crises do not happen to us, here and now.

Although private debt certainly plays a key role in many crises, government debt is far more often the unifying problem across the wide range of financial crises we examine. As we stated earlier, the fact that basic data on domestic debt are so opaque and difficult to obtain is proof that governments will go to great lengths to hide their books when things are going wrong,

The Fiscal Legacy of Crises Declining revenues and higher expenditures, owing to a combination of bailout costs and higher transfer payments and debt servicing costs, lead to a rapid and marked worsening in the fiscal balance.

there is one common theme to the vast range of crises we consider in this book, it is that excessive debt accumulation, whether it be by the government, banks, corporations, or consumers, often poses greater systemic risks than it seems during a boom.

The turning points of lives are not the great moments. The real crises are often concealed in occurrences so trivial in appearance that they pass unobserved.

lack drama. Why is it that we reward programmers who work all night to remove the errors they put into their programs, or managers who make drastic organizational changes to resolve the crises their poor management has created? Why not reward the programmers who design so well that they don't have dramatic errors, and managers whose organizations stay out of crisis mode? Organizing

Business crises energize me. Personal crises devastate me. The doctors call it an avoidance tendency. (Mirena to Eve)

The CDC has always been an example of unbiased and thorough medical research, both in America and around the world, and we must continue to provide the doctors and experts at the CDC the resources they need to help solve and prevent public health crises.

In these troubled, uncertain times, we don't need more command and control; we need better means to engage everyone's intelligence in solving challenges and crises as they arise.

For long, history was mainly political history, and historical narrative was confined to an account of the most important crises in political life, or to an account of wars and great generals.

Kerala has a history of being resilient... in a short span we had several crises - floods, Nipah, Ockhi, etc.

Why do we have financial crises? Why do banks lose money? If history is any guide, it hasn't often been the result of speculative bets. It has been the result of banks making loans to individuals and businesses who can't pay them back.

Great crises produce great men, and great deeds of courage.

Well, there are lot of people who make a lot of money off the fifth- and sixth-life crises. All of a sudden they have a ton of consumers scared out of their minds and willing to buy facial cream, designer jeans, SAT test prep courses, condoms, cars, scooters, self-help books, watches, wallets, stocks, whatever…all the crap that the twenty-somethings used to buy, they now have the ten-somethings buying. They doubled their market!