Ha-Joon Chang Quotes

History is replete with examples of moments in time when we talk about deficit reduction and try to advance on it around the world, that is, where it leads to job losses, not job creation.

We got into a recession because the global economy went into the recession and we're a big exporting nation.

I realized it was happening, but most people didn't realize it was happening. I mean, because as a self-employed person, when there is a recession or a cutback in the economy, we feel it first. Because many self-employed people provide services that are nonessential.

There are always, of course, job losses of a cyclical nature in a recession.

The worst thing that we could do is raises taxes. It would only hurt the economy.

The financial implode is bound to be reflected in the movies that are being made, there's no question.

History shows that tax increases during a recession are a recipe for greater unemployment and economic loss.

If there's a severe recession, the automatic stabilizers will come into effect, and we will still try to reduce the structural deficit, but we will not try to keep cutting the budget so that we keep worsening a severe recession.

In a very weak economy, when you say 'cut government spending,' what you mean is you're laying off school teachers and you're de-funding various programs that put money into the economy. This means you have more unemployed people that then draw unemployment benefits and don't pay taxes.

Austerity: The History of a Dangerous Idea.

Austerity policies can ironically end up entrenching the structural problems they were intended to address, as unemployed workers drop out of the workforce altogether and their skills degrade.

If Mr. Trump gets precisely the policies he says he wants, then the economy will suffer a recession.

Obama has paid and will continue to pay dearly for betting on his stimulus package. Because of it, the Bush recession is becoming the Obama recession much faster than it would have had he adopted a more gradual approach to solving economic problems. By jumping in immediately, as he did, in order to increase government spending and pass eight years of Democratic dreams in one day, he made the public expect a solution.

If sequestration takes place, that's going to be a great setback. We don't need to be having something like sequestration that's going to cause these job losses - over 170 million jobs that could be lost.

Under current law, on January 1, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases.

Deflation and secular stagnation are the risks of our time.

Sometimes if your only approach is cutting spending at a time when the economy's contracting, then the economy will contract further.

According to a recent survey, kids are receiving an average of 40 cents less from the tooth fairy. That's right, the economy is so bad that even make-believe people are feeling the pinch.

Donald Trump would send us back into recession with his tax plans that benefit the wealthiest of Americans.

The sequestration is a bad idea, all around. It is something that is out of the question. If you have spending cuts, education of our children, other investments, on the National Institutes of Health, where you are hindering growth, you're no going to reduce the deficit.

The time will come, and probably during 2009, that the only way the U.S. will be able to fund its deficits is to create money by printing it. The Treasury will have to sell bonds, and, in the absence of foreign buyers, the Fed will have to print the money to buy them. The consequence will be runaway inflation, increasing interest rates, recession, and inevitable tax increases on all Americans.

At times of recession, running a budget deficit is highly desirable. Once the economy begins to recover, you have to balance the budget. But it will also need additional revenues. Should the government not receive them, we will all get punished with higher interest rates.

I've read about all the sales today. If you're an auto dealer, you're feeling it. If you're a furniture retailer like we are, you're feeling it. If you're a jewelry retailer, you're feeling it. I know some of these businesses because we're in them. Yeah, it's being felt, but it will be felt big time more if we don't do something about it, what's going on.

Down cycles are not fun. But they form the basis for enormous future profitability

We went into a recession in 2008 because of gasoline prices. The bubble burst in housing because people couldn’t pay their mortgages because of $4 a gallon gasoline.