Warren Buffett Quotes

The stress on the financial system in the fall of 2007 was significant, but not so significant as to threaten the overall stability of the U.S. economy, although it did lead to the beginning of a recession at the end of 2007.

Uncertainty is killing this economy.

The world is still in deleveraging.

At many points during our nation's history, there have been times - known in our history textbooks as 'panics' - when adverse conditions affecting the financial and economic sectors of the country have caused individuals to hoard more than they need.

What we know about the global financial crisis is that we don't know very much.

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.

Some things never change - there will be another crisis, and its impact will be felt by the financial markets.

I don't know if we're on the edge of the precipice, but we're in a very, very, very difficult situation.

These heroes of finance are like beads on a string; when one slips off, all the rest follow.

There's a loss of faith in the banking system that for so long has been the backbone of prosperity and growth.

Within a few months in 2008, household finances were crushed as asset values fell, millions of jobs were lost, countless credit cards were canceled, and thousands of homes were foreclosed on.

The upward economic movement in America has undoubtedly reached its end – the crisis has come.

A recession is a period in which you tighten your belt. In a depression, you have no belt to tighten. In a panic you have no pants left to hold up.

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.

…in a crisis of confidence and credit, psychology is the big factor.

Not only have government bills been dishonored and the interest on the public debt remains unpaid, but … so completely empty is the Treasury and destitute of credit, that funds cannot be obtained to defray the ordinary expenses of the different departments.

Every serious deflation I've looked at is preceded by an asset bubble, and then it bursts.

You have to take it seriously that the economy is in crisis.

Depression is the aftermath of credit expansion.

I think it's been, you know, kind of like a tragic play to this point. But at this point, I think it's clear, and will be clear to the majority of the Congress. I think it's clear to the American people that there is only one countervailing force to a world where financial institutions are trying to sell instruments every day and where credit has dried up, and that's the United States Treasury.

There is definitely going to be another financial crisis around the corner because we haven’t solved any of the things that caused the previous crisis.

The onset of a crisis is usually triggered by a spectacular failure which shakes confidence in fictitious forms of capital.

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.

At the center of every recession is a serious imbalance in the economy and mirrored in the financial system. Think subprime mortgage and the Great Recession, or the technology bubble and the early 2000s recession. There are no such imbalances today.

This crisis has the potential to be a lot worse than Lehman Brothers.