Zygmunt Bauman Quotes

There has been a banking crisis, a financial crisis, an economic crisis, a social crisis, a geostrategic crisis and an environmental crisis. That's considerable in a country that's used to being protected.

Banks wont even loan each other money, everybody's going broke, and here we are inside here, these people are going to be out on the street selling apples and pencils and they're still going to be buying paintings for this money, so I don't know what's going on in this world.

The Stock Market was down today. Two major businesses declared bankruptcy, consumer spending is at an all time low - in other words, Bush is back on the job.

I think when the bottom started to drop out, we didn't recognize it.

Economic and financial crisis are getting much more usual, and they are not confined to a given country but they immediately spread all over the world, and you have to be prepared for that.

In this age, if the currency of a major nation collapses, or its access to borrowing ends, it just can't function.

The financial crisis that began in the summer of 2007 was an extraordinarily complex event with multiple causes.

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.

In economic panics throughout history, the wiping out of the savings accounts of lower earners and the middle class has often led to social revolution, sometimes violent upheavals.

When runaway inflation and bank failures struck in Germany in the 1920s, the middle class was destroyed, which led directly to the rise of the Nazis.

It's better to have the taxpayer pay for the losses than have the United States of America become an economic wasteland. If the financial system collapses, it's really, really hard to put it back together again.

I can tell you what happens to countries that go bankrupt. I've been to Argentina. I'm familiar with the history of Mexico and Great Britain. We'll see the same things here shortly: inflation, huge tax increases, capital flight and, eventually, capital controls.

A serious dose of unemployment and a spate of bank failures can make the unelectable electable quite quickly.

Puerto Rico is a government that is spending money that it doesn't have. What's coming in and what's going out don't match. That is, what they are receiving in taxes is not sufficient to cover the spending that they are taking on. And any entity that does that, whether a family, a business, a government, is going to go broke and bankrupt. They are asking to be given the right to declare bankruptcy, which I think should be an option, as a last resort, if there is no other resource.

We're not just going to see mid-sized banks go under in the next few months, we're going to see a whopper.

We have a debt the size of our economy, which makes us look a lot like Greece.

The patient that's on the floor with the cardiac arrest is not Wall Street. It's the American economy.

The United States is broke — fiscally, morally, intellectually — and the Fed has incited a global currency war Japan just signed up, the Brazilians and Chinese are angry, and the German-dominated euro zone is crumbling that will soon overwhelm it. When the latest bubble pops, there will be nothing to stop the collapse. If this sounds like advice to get out of the markets and hide out in cash, it is.

No one in Washington realizes you can't borrow money endlessly.

I believe capitalism is dying a slow death right now, as you can see with the recession and with the credit crunch and with social and economic dismay the world as whole and the pandemic of promiscuity, drugs, alcohol and all the other diseases. That's the worst and I believe it's time for a change.

Social unrest and protectionism are the two major risks of the world economic crisis.

Despite Russia's move to raise interest rates this week, the value of the ruble has continued to crash. Russia's economy is so bad, Edward Snowden had to put government secrets on Craigslist.

We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people.

After the economic 9/11, we will face a new world order.

The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.