Financial Crises Quotes & Sayings
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Top Financial Crises Quotes

Similar things are happening in Africa, here, and in Europe. The indignados in southern Europe and the Occupy movements here are in a sense similar, even if that are from different worlds. The protests are not against dictatorships but against the shredding of democratic systems and the consequences of the Western version of the neoliberal system, which has had structurally consistent effects for the past thirty years: a very narrow concentration of wealth in a fraction of 1 percent of the population, stagnation for a large part of the rest, deregulation, and repeated financial crises, each one harsher than the last. — Noam Chomsky

Here's how I look at it: Life is full of challenges. Everybody has them. For some, it's health or family crises. I had a financial challenge. — Tamara Tunie

Capitalism cannot cause a financial crisis because capitalism is about markets constantly correcting errors. It is government intervention that can and often does cause crises, — John Tamny

How can HOW help us repair our faltering global economy?
Only by getting our "hows" right can we ensure that we are sustainable. This can only be achieved when we are rooted in, and inspired by, sustainable values. The global economic meltdown supplied a perfect, but painful, example of how sustainability cannot be guided by situational values. The economic crash occurred because too many financial companies became disconnected from fundamental values and long-term sustainable thinking. Instead of nurturing sustainable collaborations, banks, lenders, borrowers and shareholders pursued short-term relationships founded on situational values. More than ever we need to get out of this cycle of crises and build long-term success and deep human connections so that we achieve enduring significance in today's globally interconnected world. — Dov Seidman

In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems. — Timothy Geithner

There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy. — Timothy Geithner

Anyone interested in the past, present, or future of banking and financial crises should read The Bankers' New Clothes. Admati and Hellwig provide a forceful and accessible analysis of the recent financial crisis and offer proposals to prevent future financial failures. While controversial, these proposals
whether you agree or disagree with them
will force you to think through the problems and solutions. — Michael J. Boskin

If you thought financial crises came and went, just count on them - another economic collapse, it's almost going to be like not news any more. But for startups this is great, because it's a perpetual driver of disruption. — Steve Jurvetson

Financial crises are an unfortunate but necessary consequence of modern capitalism. — Andrew Lo

Starting in 1792 with George Washington, there were financial crises every ten to fifteen years. Panics, bank runs, credit freezes, crashes, depressions. People lost their farms, families were wiped out. This went on for more than a hundred years, until the Great Depression, when Oklahoma turned to dust. "We can do better than this." Americans said. "We don't need to go back to the boom-and-bust cycle." The Great Depression produced three regulations:
The FDIC-your bank deposits were safe.
Glass-Steagall-banks couldn't go crazy with your money.
The SEC-stock markets would be tightly controlled.
For fifty years, these rules kept America from having another financial crisis. Not one panic or meltdown or freeze. They gave Americans security and prosperity. Banking was dull. The country produced the greatest middle class the world had ever seen. — Elizabeth Warren

Ever since the Great Depression, economists have known that demand shortages tend to persist in the wake of severe financial crises like the ones that happened in 1929 and 2008. — Bob Frank

The climate, financial and national security crises are all connected. They share the same cause: Our [the USA's] absurd dependency on foreign oil. As long as we need to spend billions of dollars each year to buy foreign oil from state-run oil companies in the Persian Gulf, our problems of a trade deficit, a budget deficit and a climate crisis will persist. — Al Gore

The essence of the this-time-is-different syndrome 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. We are doing things better, we are smarter, we have learned from past mistakes. The old rules of valuation no longer apply. Unfortunately, a highly leveraged economy can unwittingly be sitting with its back at the edge of a financial cliff for many years before chance and circumstance provoke a crisis of confidence that pushes it off. — Carmen Reinhart

the gold standard was incapable of preventing the sort of financial booms and busts that were, and continue to be, such a feature of the economic landscape. These bubbles and crises seem to be deep-rooted in human nature and inherent to the capitalist system. By one count there have been sixty different crises since the early seventeenth century - the first documented bank panic can, however, be dated to A.D. 33 when the Emperor Tiberius had to inject one million gold pieces of public money into the Roman financial system to keep it from collapsing. — Liaquat Ahamed

The job of the financial journalist was to examine the sharks who created interest crises and speculated away the savings of small investors, to scrutinize company boards with the same merciless zeal. — Stieg Larsson

The globalization that characterizes today's economics goes beyond or eludes the sovereignty of individual states, and thus the power of their rulers. It is not they, but rather financial groups in control of vast amounts of capital, who decide upon their vertiginous passage through nations, without taking into account the serious crises they might generate. — Patricio Aylwin

Financial crises are not natural disasters. They are man-made disasters. — Ziad K. Abdelnour

At present, financial crises occur, chiefly because the paper currency is redeemable in gold only. — John Buchanan Robinson

Altermodern is an in-progress redefinition of modernity in the era of globalisation, stressing the experience of wandering in time, space and mediums. The term 'altermodern has its roots in the idea of 'other-ness (Latin alter = 'other, with English connotation of 'different) and suggests a multitude of possibilities, of alternatives to a single route. It suggests that the historical period defined by postmodernism is coming to an end, symbolised by global financial crises. — Nicolas Bourriaud

Money is a public good; as such, it lends itself to private exploitation. — Charles P. Kindleberger

We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going to be one of those crises. — Lawrence Summers

From the beginning of time, we've had financial crises. People always blame the banks and for good reason. When you look for the root causes, they're almost always failed government policies. — Henry Paulson

Compared to developed countries, or even to some major emerging countries, burdened by aging populations, financial crises, widening budget deficits, faltering faith in politics and growing social demands, Africa has become the world's last 'New Frontier:' a kind of 'it-continent.' — Mo Ibrahim

Firstly, economic globalisation has brought prosperity and development to many countries, but also financial crises to Asia, Latin America and Russia, and increasing poverty and marginalisation. — Anna Lindh

Think how weird profit margins are: We've got high unemployment and financial crises - and world record profit margins. People think the American market is very cheap. We don't. The market quite incorrectly gives full credit to today's earnings. — Jeremy Grantham

The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008 financial crisis. Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book. — John H. Makin

The purpose of this pamphlet is to explain how local currencies work. Alone they cannot solve all the multiple financial, social and environmental crises we face, but they are an increasingly important part of the answer. — John Rogers

The Mexican debt crisis, Latin American debt crisis, the crises of the 1990s, the Wall Street stock market crash, and other events should have reminded us, and did remind us, that financial instability remains a concern, remains a problem. — Ben Bernanke