Noam Chomsky Quotes

Financial markets need to become less, not more, efficient.

I'd be kidding if I said that I predicted the financial collapse.

Capitalism is in crisis.

Never before in modern times has so much of the world been simultaneously hit by a confluence of economic and financial turmoil such as we are now living through.

Blaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response.

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.

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

Imperceptibly, the developed world's manufacturing base was gradually eroding and being replaced by securitized finance that destroyed itself and nearly its economies in 2008.

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

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

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

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

COVID-19 has upended our economy.

The financial crisis revealed important weaknesses in many areas of our financial system.

I think it is true that, post the global financial crisis initially - and for some period after that and particularly with how the mining investment boom and commodity prices played out - there was a dislocation that occurred in some of the more traditional mechanisms.

From the peak in 2007 to the trough in 2009, Americans lost $11 trillion of net worth for households and businesses.

It's not a small thing, it's a pandemic, but economically we should not be in this position that we are this fragile as an industry. We don't go racing for three months and we are on the verge of collapsing, which is amazing.

The collapse of the housing bubble sent the world spiraling into recession. The collapse of the energy and commodity bubble threatens to be just as damaging.

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

The path we're on has taken the USA to the brink of bankruptcy.

In the next economic downturn there will be an outbreak of bitterness and contempt for the supercorporate chieftains who pay themselves millions. In every major economic downturn in US history the villains have been the heroes during the preceding boom.

It's the deleveraging that's going on right now that has caused the credit crisis.

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

The Great Depression in the United States was caused - I won't say caused, was enormously intensified and made far worse than it would have been by bad monetary policy.

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.