Bernard Malamud Quotes

Well, as you know, we're working through a difficult period in our financial markets right now, as we work off some of the past excesses. But the American people can remain confident in the soundness and the resilience of our financial system.

Until Americans feel that their core asset - their homes - are stabilized, they are not going to have the animal spirits and they will continue to have less buying power.

Our economy isn't going to recover until the housing market finds its footing.

Economic freedom is a highly desirable state -- but in bust and boom we must be prepared to face the its consequences.

The Fed should not be responding to the ups and downs of the markets, and it is certainly not our policy to do so. But when there are significant financial developments, it's incumbent on us to ask ourselves what is causing them.

The lesson of 2008 is that ultimately our markets are driven by confidence.

Our national debt poses a threat to all Americans and is particularly troublesome both for well-established businesses and for those seeking to enter into the marketplace.

Listen to market strategists, and a word that comes up a lot these days is 'volatility.'

You don't run a business hoping you don't have a recession.

The recession is over." This phrase has been used twice a year since 1973 by government leaders throughout the West. Its meaning is unclear. See: Depression.

As I write in 2012 we certainly do not believe that it is over yet, and the worst may be yet to come. Efforts by governments to solve the underlying problems responsible for the crisis have still not gotten very far, and the 'stress tests' that governments have used to encourage optimism about our financial institutions were of questionable thoroughness.

When Americans are worried about losing their jobs, their savings, their homes and their chance at the American Dream, Congress and the president must work together to lift our economy and restore hope. That is the course the New Direction Congress will continue in the days and weeks ahead.

If this Government cannot get the adjustment, get manufacturing going again, and keep moderate wage outcomes and a sensible economic policy, then Australia is basically done for. We will end up being a third rate economy... a banana republic.

One doesn't like instabilities in markets; they may be damaging, but probably not fatal, as the October '87 crash showed. It turned out to be essentially inconsequential. So if that's true, I'm not very worried about the welfare of those who are investing any more than I am about the welfare of those who go into casinos.

It's going to be tough because the economy is going to be getting worse for a while. And it might fall off a cliff if this doesn't pass. But nobody will ever know that if it does.

Although the financial crisis, you know, receded a while ago, we kind of never picked up on it.

Boom and bust cycles are very difficult for businesses because you're hiring a bunch because you're planning for the future. And if the future is going to be very big, you need to hire people, or suddenly you go to boom to bust, then all of a sudden, you're kind of battening down the hatches and trying to sail, you know, through the storm, it's a different thing. So part of it is making good decisions about, well, how long is a boom cycle going to be, you know, don't plan on it going forever.

I am telling folks that the Country as a whole is "Sound," and that all those who's heads are solid are bound to get back into the market again. I tell 'em that this Country is bigger than Wall Street, and if they don't believe it, I show 'em the map.

The economy is the silent elephant in the room.

He that cannot abide a bad market, deserves not a good one

An underpaid man is a customer reduced in purchasing power. He cannot buy. Business depression is caused by weakened purchasing power. Purchasing power is weakened by uncertainty or insufficiency of income. The cure of business depression is through purchasing power, and the source of purchasing power is wages.

There are two issues that people sometimes confuse, but they're very closely related. There is the strength and the stability of the American financial system. And it's very important that that system remain stable and remain strong and lending is very important to consumers. Secondly, the economy. And what has gone on in financial system is impacting the economy. And as the economy is turning down, it is very important that lending continue to be available and be available to consumers. So what we're doing with this facility is to support - is to support consumer lending.

Unsolvable problems do not exist. Any crisis is a combination of specific tasks to be worked on. The government has the experience and reserves to overcome the economic downturn

The government-sponsored institution Fannie Mae, when I look at its risks, seems to be sitting on a barrel of dynamite, vulnerable to the slightest hiccup. But not to worry: their large staff of scientists deemed these events "unlikely."

The opposite of Prosperity is not poverty. It is anxiety.