Quotes About Financial crisis

And Milton Friedman was wrong: in the face of a really big shock, which pushes the economy into a liquidity trap, the central bank can't prevent a depression.

We now have two homes," I bleated to my wife, fishing out the cyanide capsule my accountant had given me in the event things had taken precisely this turn.

The financial implode is bound to be reflected in the movies that are being made, there's no question.

The crash, he believed, had been a lancet applied to an abscess. A good bleeding was necessary to do away with the swelling so that the market could find its true bottom and rebuild on solid foundations.

The crisis and recession have led to very low interest rates, it is true, but these events have also destroyed jobs, hamstrung economic growth and led to sharp declines in the values of many homes and businesses.

So much value has been lost in the housing market that people are now buying. If there's any activity in the housing market, it's because values have plummeted to such depths that the 47% can now afford to live in a government-purchased house, or something like that.

I think the ethos for Gov. Romney is to use a whole variety of policies, of which tax policy is one, to try to raise the rate of growth. We've had a recovery from the financial crisis that would be well below what one might normally expect for a recovery from such a deep recession. And to counteract that we need better tax policy.

I remember in 2007, 2008, when we had the recession, there were all of these very gloomy emails sent from a lot of venture capitalists, saying, Don't expect to get funded.'

Listen," Richard says, "unless you're about to inherit some money, what we're talking about here is irreversible, fatal. You have fiscal Ebola, Matt. You are bleeding out through your nose and your mouth and your eye sockets, from your financial asshole." See! Fiscal Ebola? My financial asshole is bleeding? This was exactly why I started poetfolio.com; there are money poets everywhere.

What happened is we went into a recession beginning in December of 2007 that was the worst since 1929. And it is a very deep hole that we have been struggling to get out of.

The company, Tiffany Studios, ended up in bankruptcy in 1930 - early '30s.

Back in 2005 and 2006, I argued as forcefully as I could, in letters to clients of my investment firm, 'Scion Capital', that the mortgage market would melt down in the second half of 2007, causing substantial damage to the economy.

If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major macroeconomic events of our time: growing income inequality, stagnant median income, and the financial crisis.

Well, the people at the bank won't just kick us out onto the street, will they?" asked Kit. "Yes," said Charlie. "That's exactly what they'll do. You've seen those pictures in the newspapers of whole families and all their belongings out on the street with nowhere to go." "That is not going to happen to us," said Kit fiercely. "It's not." "I hope not," said Charlie.

Wall Street had been doing business with pieces of paper; and now someone asked for a dollar, and it was discovered that the dollar had been mislaid.

A recession is when you have to tighten your belt; depression is when you have no belt to tighten. When you've lost your trousers - you're in the airline business.

In October 2008, when the credit crunch hit, small businesses were really crushed by the lack of capital.

Government-imposed loan standards precipitated a banking crisis, which was solved by a government bailout and control of the banks. As a result, little by little, fewer and fewer are making more and more banking decisions. Government

The day was not far off when, as the saying goes, if Wall Street sneezed, the rest of the world would catch a cold. And Wall Street had not discovered how to stop itself sneezing.

Because in a time of financial crisis like the present, money is what ammunition is to a soldier in a hostile country - don't let's waste our powder.

The Prime Minister was told by his economic advisors that India was about to default on its debt repayments. India will never default, announced Chandrashekhar and pledged part of the country's gold reserves to cover the debt.

The key problem is the debt restructuring in the euro zone. As long as the debt burden is not reduced, there is no chance of the weaker EU countries regaining competitiveness.

Nothing is so well calculated to produce a death-like torpor in the country as an extended system of taxation and a great national debt.

Austerity is, devastatingly, not a party political issue.