Kevin Brady Quotes

Experience shows that a recession is never the result of just a few large industries dragging the economy down while the others continue to expand.

Even as China's growth slows, it will continue to be a powerhouse for the global economy.

I predict 2016 will be a year of upheaval and realignment across the world. China's economy will continue to sputter. Commodity exporting countries will suffer. Europe's growth will remain flat-lined. The U.S. will plug along at under 3% growth.

I think, going forward, we need to be much more modest on expectations with regard to China growth: That's just being realistic.

In the LBO field there is a buried "covariance" with marketable equities, toward disaster in generally bad business conditions, and competition is now extremely intense.

In China, it was always said that a double-digit rate of growth would be dangerous. Now, the country has a growth rate of 6.9 percent and suddenly that is supposed to be a catastrophe for the global economy.

Infrastructure projects create a lot of demand for material, services and manpower. It is a chain reaction; if the infrastructure growth slows down, it will hit overall demand. The supply side has to keep increasing to sustain growth.

Commodities tend to zig when the equity markets zag.

Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0 percent balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy.

You know, oil prices from 2007, on the strength of a very robust global economy and a very robust emerging China, many of you will recall, ramped up to near $150 a barrel. Then we had the financial - U.S. financial collapse. Oil prices collapsed all the way down to $40 a barrel.

In China anything less than 6% growth is a recession meaning that it also causes financial problems and it's disruptive and it's a problem.

If the Chinese bubble bursts one day, which inevitably will happen - maybe not tomorrow, maybe in three months, maybe in three years - when it happens, it will have devastating consequences for the global economy.

Bubbles are best identified by credit excesses, not valuation excesses. And there's no bigger credit excess than in China.

The interesting thing about the China story, getting back to the macro and micro, and as dire as I think the macro story is - due to bad credit and credit extension that makes Greece and Spain and the U.S. look like child's play - when you get to the micro of individual companies, they look even worse.

If you're afraid of inflation, I think - and if you can bring yourself to have a long horizon - and when I say long, I mean ten to 20 years, not the usual ten to 20 weeks - that locking up resources in the ground is a terrific idea.

What happened in 2008 stopped people in their tracks. People stopped looking at their homes simply as commodities to exploit and starting thinking about how they might personalise that space and make them less bland and more autobiographical, and that's healthy, I think.

In the economy of the cuckoo people that populate central banks, everything is possible. What you have is gigantic bubbles, the NASDAQ in 2000, then the housing bubble and then commodities in 2008 when oil went from $78 to $147 before plunging to $32 within six months.

With such enormous bucks devoted to trading in oil and other commodities, the distortions that they cause have been exacerbated.

MF Global used to be known as Man Financial, and it had a reasonably good reputation. It did a humdrum business placing commodities trades for fund managers as well as farmers, grain dealers and others whose livelihoods depend on the vagaries of commodity prices.

Booms are great while they last but they don’t last forever.

As austerity measures were foisted upon Greece, Ireland, Portugal, and other highly indebted countries, growth was rendered even more elusive, aggravating unemployment

The speed, scale and reach of China’s rise are without precedent in modern history. Within just 30 years, China’s economy has gone from smaller than the Netherlands to larger than those of all other countries except the United States.

Ireland, once an impoverished backwater from which generations fled, conjured an economic miracle…. After 2007, the party ended in a morass of insolvent banks, bad mortgages, and unpaid public debt, ultimately sending the proudly independent country begging to the International Monetary Fund.

Rising prices of essential commodities has affected the day-to-day life of people of this country.

It's impossible for China to keep 10 to 15% growth annually. The economy needed to slow down, and we have to learn to slow down.