Irving Fisher Quotes

It was a lack of system that made the '30s Depression as inevitable as all others previously suffered.

… a depression is for capitalism like a good, cold douche.

The United States is broke — fiscally, morally, intellectually — and the Fed has incited a global currency war Japan just signed up, the Brazilians and Chinese are angry, and the German-dominated euro zone is crumbling that will soon overwhelm it. When the latest bubble pops, there will be nothing to stop the collapse. If this sounds like advice to get out of the markets and hide out in cash, it is.

Fiscal crises often turn into financial crises, dealing a blow to the real economy.

Deflation can be particularly dangerous when a financial system is shaky, with household and corporate balance sheets in poor shape and banks undercapitalized and heavily burdened with bad loans.

No I don't think it was a myth at all, anymore than what the recession that the whole country was experiencing was a myth, which obviously seems like it's going to get worse and worse.

I think money is due for some sort of collapse. People are going to realize that money has a half-life, like radioactive elements.

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.

Financial crises are an unfortunate but necessary consequence of modern capitalism.

We all knew this. We all knew that it would take more time than any of us want to dig ourselves out of this hole created by this economic crisis.

There are different flavors of recession. You can get into some pretty dark scenarios pretty quickly.

I think the IMF helped to detonate the Indonesian crisis.

The Nasdaq bubble and crash were followed by the real estate bubble then subprime crash, which led to the unprecedented printing of trillions of dollars in an attempt to prevent a global depression.

The reality for us in America is that we will never get out of debt with more than 15 million people out of work.

Unemployment is sky-rocketing; deflation is in our future for the first time since the Great Depression. I don't care whose fault it is, it's the truth.

Britain in the 1970s was undoubtedly an economic mess because of the oil price explosion.

To my mind, the main reason for the Depression in the United States as a whole, is the bondage of debt and the spirit of speculation among the people.

How long will it take the citizens of the United States, one wonders, to recognize that the house their country bombed in Iraq is the same one they were living in until it was foreclosed?

America had been a boom-and-bust economy going into the Great Depression - just over and over and over, fortunes were wiped out, ordinary families were crushed under it.

Once upon a time my political opponents honored me as possessing the fabulous intellectual and economic power by which I created a world-wide depression all by myself.

We now have the worst of both worlds – not just inflation on the one side or stagnation on the other side, but both of them together. We have sort of “stagflation” situation.

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.

From now on, depressions will be scientifically created.

If one wants to avoid the recurrence of economic crises, one must avoid the expansion of credit that creates the boom and inevitably leads into the slump.

I have 13 bankers in my office, and they say that if you go forward with this you will cause the worst financial crisis since World War II.