Quotes About Crisis

this world will not survive.

More inmates died of suicide than the needle on death row in California.

It was the era of fake news and reporters being labeled by those in power as enemies of the people. Newspapers were folding right and left and some said the industry was in a death spiral. Meanwhile, there was a rise in biased and unchecked reporting and media sites, the line increasingly blurring between impartial and agenda-based journalism.

financially. He gets so far upside down on his mortgage he's

A crisis is made by men, who enter into the crisis with their own prejudices, propensities, and predispositions. A crisis is the sum of intuition and blind spots, a blend of facts noted and facts ignored.

A characteristic of all crises is their predictability, in retrospect. They seem to have a certain inevitability, they seem predestined.

The theory of eugenics postulated a crisis of the gene pool leading to the deterioration of the human race. The

Even though speculation is correct only by chance, which means it is wrong at least 50% of the time, nobody remembers and therefore nobody cares. People do not remember yesterday, let alone last week, or last month. Media exists in the eternal now, this minute, this crisis, this talking head, this column, this speculation.

One man's real estate crisis is another's opportunity. All markets work in this way, providing investors with cash the chance to buy—stocks, bonds, real estate, and commodities—when prices are depressed. This reality is devoid of emotional weight and is the basic truth that keeps capitalist economies working.

Population Control / Pocket Billions $$$; Mass Extinction Event.

Germans longed to be near shit, but not in it. This, as it turns out, is an excellent description of their role in the current financial crisis.

Pope Benedict XVI was the first to predict the crisis in the global financial system…Italian Finance Minister Giulio Tremonti said. "The prediction that an undisciplined economy would collapse by its own rules can be found" in an article written by Cardinal Joseph Ratzinger [in 1985], Tremonti said yesterday at Milan's Cattolica University. —Bloomberg News, November 20, 2008

I really do believe the final act in play is a crisis in our financial institutions, which are doing such dumb, dumb things

scale. The American institutions built to manage risk and respond to a virus had been engaged in a weird simulation of crisis response that did not involve actually trying to stop the virus. "The greatest trick the CDC ever pulled was convincing the world containment wasn't possible

These folks don't know what they're talking about. If losses go to ten percent there will be, like, a million homeless people." (Losses in the pools Hubler's group had bet on would eventually reach 40 percent.)

The root of the CDC's behavior was simple: fear. They didn't want to take any action for which they might later be blamed.

Goldman Sachs did not leave the house before it began to burn; it was merely the first to dash through the exit—and then it closed the door behind it.

Subprime borrowers tended to be one broken refrigerator away from default. Few

By early 2005 all the big Wall Street investment banks were deep into the subprime game. Bear Stearns, Merrill Lynch, Goldman Sachs, and Morgan Stanley all had what they termed "shelves" for their subprime wares, with strange names like HEAT and SAIL and GSAMP, that made it a bit more difficult for the general audience to see that these subprime bonds were being underwritten by Wall Street's biggest names.

Pope Benedict XVI was the first to predict the crisis in the global financial system…Italian Finance Minister Giulio Tremonti said.

Alan Greenspan assures us that home prices are not prone to bubbles—or major deflations—on any national scale," he'd said. "This is ridiculous, of course…. In 1933, during the fourth year of the Great Depression, the United States found itself in the midst of a housing crisis that put housing starts at 10% of the level of 1925. Roughly half of all mortgage debt was in default.

human imagination is a poor tool for judging risk. People are really good at responding to the crisis that just happened, as they naturally imagine that whatever just happened is most likely to happen again. They are less good at imagining a crisis before it happens—and taking action to prevent it.

cause of the financial crisis was "simple. Greed on both sides—greed of investors and the greed of the bankers." I thought it was more complicated. Greed on Wall Street was a given—almost an obligation. The problem was the system of incentives that channeled the greed. The line between gambling and investing is artificial and thin.

Even as late as the summer of 2006, as home prices began to fall, it took a certain kind of person to see the ugly facts and react to them—to discern, in the profile of the beautiful young lady, the face of an old witch. Each of these people told you something about the state of the financial system, in the same way that people who survive a plane crash told you something about the accident, and also about the nature of people who survive accidents.