Carlos Ghosn Quotes

The downturn following the collapse of Japan's so-called bubble economy of the 1980s was not as severe as the Great Depression.

Should that worse scenario materialize, then most probably our propensity to increase interest rates will be weaker.

We have major fiscal problems on our hand.

The world is still in deleveraging.

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.

We have much more to fear from economic weakness in Europe than in economic strength in Europe.

We used to think that we could spend our way out of a recession…. I tell you in all candor that that opinion no longer exists.

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.

We simply can't spend our way out of a recession.

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.

Spain is facing an economic situation of extreme difficulty, I repeat, of extreme difficulty, and anyone who doesn't understand that is fooling themselves.

So, in Europe, they're cutting people's retirement and health benefits. And that's what we want to avoid from happening. They're raising taxes, entering a recession. That's the kind of economic program that President Obama has put in place.

This economy is on life support.

It's a European Union of economic failure, of mass unemployment and of low growth.

In all modesty, we must admit that governments are not always the best doctors when it comes to diagnosing economic ailments and prescribing the right treatment.

In the middle of a recession, where we're just climbing out of it, where the economy -unemployment is still at 9.7 percent, the idea of raising taxes and reducing spending is a prescription for disaster.

Our problem is not adopting reforms, which we will do without question. It is not reaching an objective, which we will meet. But it is finding an end to the recession.

For the next three years, we're going to see different economies work out different problems. For European economies, especially Greece, it would be through default.

People stop buying things, and that is how you turn a slowdown into a recession.

Slumps are like a soft bed. They're easy to get into and hard to get out of.

Certainly, 9 percent unemployment and very slow growth is not a good situation.

When I took over, the economy had almost collapsed. I told Malawians we needed to pass through difficult times. Two days ago I even cut my own salary by 30% to show we are making sacrifices.

The reality for us in America is that we will never get out of debt with more than 15 million people out of work.

We're on the verge of a financial collapse unless we balance the budget, and that means some really, really tough decisions.

How much would you pay to avoid a second Depression?