John J. McLaughlin Quotes

The world economy today is recovering slowly, and there are still some destabilising factors and uncertainties. The underlying impact of the international financial crisis is far from over.

Chinese experts noted that the U.S. economy has rebounded from the 2008 crash more strongly than some analysts here had expected, while China's own growth is slowing after several decades of rocket-ship acceleration.

I think, going forward, we need to be much more modest on expectations with regard to China growth: That's just being realistic.

With the lessons taken from the financial crisis in 1997, the Republic of Korea has been able to surmount the global economic crisis rather successfully.

It took capitalism half a century to come back from the Great Depression.

The crisis in Europe has affected the U.S. economy by acting as a drag on our exports, weighing on business and consumer confidence, and pressuring U.S. financial markets and institutions.

The interesting thing about the China story, getting back to the macro and micro, and as dire as I think the macro story is - due to bad credit and credit extension that makes Greece and Spain and the U.S. look like child's play - when you get to the micro of individual companies, they look even worse.

The world is still in deleveraging.

We don't tell New Zealanders we can stop the global recession, because we can't. What we do tell them is we can use this time to transform the economy to make us stronger so that when the world starts growing again we can be running faster than other countries we compete with.

I think we're going to have some difficulty in front of us. I have absolutely no doubt the next three, four years Europe are going to be at best stagnation. We are preparing for tough times.

The role of G-20 is to support the global economy to achieve strong, sustainable and balanced growth.

I think that this is the most significant financial crisis in the post-War period for the United States, and it has in fact a global reach.... I think it is extraordinarily important to understand that, as we have seen in many previous examples of different countries and different times, choking up of credit is like taking the lifeblood away from the economy.

There is a broad consensus, not only in the United States but in most of the world, that if you are in an economic downturn, you need to stimulate. Germany seems to be an exception.

In emerging markets, slow growth in the advanced economies has shut down a traditional development path: export-led growth. As a result, emerging markets have had to rely once again on domestic demand. This is always a difficult task, given the temptation to over-stimulate.

It's impossible for China to keep 10 to 15% growth annually. The economy needed to slow down, and we have to learn to slow down.

If you look around the world and see all the different countries struggling to get away from very low inflation rates with economies not nearly as strong as ours, you want to make sure we avoid those circumstances.

I think it is true that, post the global financial crisis initially - and for some period after that and particularly with how the mining investment boom and commodity prices played out - there was a dislocation that occurred in some of the more traditional mechanisms.

If oil prices will go too high, it will slow down the world economy and would trigger a global recession.

The world economy is in a nosedive, and understanding what I call "depression economics" - the weird world you get into when even a zero interest rate isn't low enough, and a messed-up financial system is dragging down the real economy - is essential if we're going to avoid the worst.

The median family income in the U.S. is lower than it was a quarter-century ago, and if people don't have income, they can't consume, and you can't have a strong economy. There's significant risk - actually it's no longer a risk - a significant likelihood of a marked slowdown not only in China, but also in a lot of other countries like Brazil, which is in recession. All of the other countries that depend on commodities, including Canada, are facing difficulties. So it's hard to see a story of a strong U.S. economy.

The emerging economies, many of them are concerned. They didn't want the money to slosh in. They are afraid when the money sloshes out, but the tapering has to take place, and we have to be able to manage it.

A United States collapse would be much different than a Greece collapse. Greece can collapse, and there's a ripple. We collapse, and the world feels it.

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.

If government wishes to see a depression ended as quickly as possible and the economy returned to normal prosperity, what course should it adopt? The first and clearest injunction is: Don't interfere with the market's adjustment process.

A global economy that is levering up, while unable to generate enough aggregate demand to achieve potential growth, is on a risky path.