Eli Broad Quotes

So from the housing standpoint, steady as you go, I think, would be the best medicine.

We’ve never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don’t think it’s going to drive the economy too far from its full employment path, though.

House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals.

It's only when the markets are perceived to have exhausted themselves on the downside that they turn. Trying to prevent them from going down just merely prolongs the agony.

Fundamentals make the market.

That is - the reason for that is that home prices are only going to go up. Now, they've never gone down nationwide in our - since we've been keeping track of this.

Our economy isn't going to recover until the housing market finds its footing.

I really believe that you cannot use the stock market as a proxy for the economy.

Stocks have reached what looks like a permanently high plateau.

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

Ups and downs are par for the course and very much a feature of the Indian growth process.

I just don't trust any of it. Every time I read something about how there's been another ridiculous climb of the Dow Jones, there's a part of me that goes, “This can't be good.” None of this is real money. You know what I mean? It's not like there's actually more of anything. It's just ideas. When people are getting richer and richer but they're not actually producing anything, it can't end well.

I don't think that [normalization] necessarily is going to damage the emerging economies.

Unsustainable situations usually go on longer than most economists think possible. But they always end, and when they do, it's often painful.

The traditional thinking has been that the stock market likes certainty.

There is a lot of pain still to be had in the equity markets, particularly aimed at the risky end of the spectrum. We think the fair value on the market is about a third lower in the U.S. . .

[That is] hard to predict, [it] could be either September or December [2016] I personally think the sooner the better because that would be a good sign that the Fed believes the economy is significantly stronger.

I think the randomness by Donald Trump's governing, by tweeting, sloganeering, attacking, will create great chaos in the entire market. I think people will have difficulties in predicting the future. I think capital will recede.

Those who had been riding the upward wave decide now is the time to get out. Those who thought the increase would be forever find their illusion destroyed abruptly, and they, also, respond to the newly revealed reality by selling or trying to sell. And thus the rule, supported by the experience of centuries: the speculative episode always ends not with a whimper but with a bang.

If you don't follow the stock market, you are missing some amazing drama.

No man can control Wall Street. Wall Street is like the ocean. No man can govern it. It is too vast. Wall Street is full of eddies and currents. The thing to do is to watch them, to exercise a little common sense, and … to come out on top.

The current economic system is fundamentally flawed and inevitably destructive.

The financial markets play an active role in determining what's going to happen, how the economy is going to function.

I don't think it's possible for the Fed to end its easy-money policies in a trouble-free manner. Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets, so there is no reason to suspect that the actual process of boosting rates would be any different. I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.

An economic system which can only expand or expire must be false to all that is human.