Jo Bonner Quotes

Within a few months in 2008, household finances were crushed as asset values fell, millions of jobs were lost, countless credit cards were canceled, and thousands of homes were foreclosed on.

Nothing would assure a recession more than a significant drop in housing prices.

The way you create deflation is you create an asset bubble.

Every serious deflation I've looked at is preceded by an asset bubble, and then it bursts.

By March '87 we're down to seven thousand, by the end of the year we're down to twelve hundred. The whole bottom just fell out of the market. It was bad for me because I was in Australia at the time.

The stress on the financial system in the fall of 2007 was significant, but not so significant as to threaten the overall stability of the U.S. economy, although it did lead to the beginning of a recession at the end of 2007.

The Nasdaq bubble and crash were followed by the real estate bubble then subprime crash, which led to the unprecedented printing of trillions of dollars in an attempt to prevent a global depression.

The impact of the downturn is starting to feel very real. House prices and the housing market have been taking the knock for some time and that's affecting people.

I worry about another leg down in the economies causing social disruption because deleveragings can be very painful - it depends on how they're managed.

America had been a boom-and-bust economy going into the Great Depression - just over and over and over, fortunes were wiped out, ordinary families were crushed under it.

A recession is a period in which you tighten your belt. In a depression, you have no belt to tighten. In a panic you have no pants left to hold up.

I have 13 bankers in my office, and they say that if you go forward with this you will cause the worst financial crisis since World War II.

It's the deleveraging that's going on right now that has caused the credit crisis.

At the center of every recession is a serious imbalance in the economy and mirrored in the financial system. Think subprime mortgage and the Great Recession, or the technology bubble and the early 2000s recession. There are no such imbalances today.

A recession is when your neighbour has to tighten his belt. A depression is when you have to tighten your own belt. And a panic is when you have no belt to tighten and your pants fall down.

My daughter asked me when she came home from school, "What's the financial crisis?" and I said, it's something that happens every five to seven years.

Britain was set to repeat the boom-bust cycle that led to 15 per cent. interest rates for one whole year in the early 1990s.

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.

Deflation can be particularly dangerous when a financial system is shaky, with household and corporate balance sheets in poor shape and banks undercapitalized and heavily burdened with bad loans.

A recession is when a neighbor loses his job. A depression is when you lose yours. And recovery is when Jimmy Carter loses his.

Alas, in 1929 came the Stock Market crash and everything changed and became worrisome. People started practicing conservatism because of financial losses, myself included.

I think money is due for some sort of collapse. People are going to realize that money has a half-life, like radioactive elements.

A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street.

The financial and economic crash of 2008, the worst in over 75 years, is a major geopolitical setback for the United States and Europe.

There's a loss of faith in the banking system that for so long has been the backbone of prosperity and growth.