Financial Collapse Quotes

How did you go bankrupt?" Two ways. Gradually, then suddenly.

How did we go bankrupt? Two ways. Slowly, and then all of a sudden.

The economic position is only flourishing on the surface. Germany is in fact dancing on a volcano. If the short-term credits are called in, a large section of our economy would collapse.

Family responsibility, yes, and always. Family bankruptcy due to the cruel rules of government, no.

The hedge fund known as "Long Term Capital Management" collapsed last fall through overconfidence in its highly leveraged methods, despite I.Q.'s of its principals that must have averaged 160. Smart people aren't exempt from professional disasters from overconfidence. Often, they just run aground in the more difficult voyages they choose, relying on their self-appraisals that they have superior talents and methods.

Investing in auto companies and ensuring a financial collapse didn't lead not from a recession to a great depression may not have been the most popular thing to do, but it was the right thing to do.

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

Austria, Germany and the U.S. South did not disappear as a result of their currencies' ruin. Although many people suffered, most people found a way to survive, life went on, and economic activity eventually resumed after the adoption of a 'reformed' or foreign medium of exchange.

The downturn following the collapse of Japan's so-called bubble economy of the 1980s was not as severe as the Great Depression.

I do know that throughout history, all paper money has eventually come back to its true value, which is zero.

When your outgo exceeds your income, the upshot may be your downfall.

It's better to have the taxpayer pay for the losses than have the United States of America become an economic wasteland. If the financial system collapses, it's really, really hard to put it back together again.

You had the Crash [Meltdown] of 2008, where the financial system actually collapsed and had to be put on life support, which consisted of substituting sovereign credit for the financial credit that was no longer credible.

I've watched the world crash and burn in every sense. I've watched the record industry crash and burn; politically I've watched it crash and burn, financially crash and burn.

The collapse of Enron and the subsequent collapse of Arthur Andersen were tremendous tragedies. But as I stated at the time of my indictment on July 8, 2004, failure does not equate to a crime.

At the end of Friday, March 3, 1933, thirty-two states had closed all their banks ... Six other states had closed almost all their banks. In the other ten states and in the District of Columbia withdrawals were limited to 5 percent of deposits and in Texas to ten dollars per day. The U.S. financial system had reached the last extremity before it would collapse completely, taking the life's savings of tens of millions of people and what was left of the international economic system with it.

I think there is universal agreement within the economics profession that the decline - the sharp decline in the quantity of money played a very major role in producing the Great Depression.

This circulating medium has a natural tendency to lessen by degrees the value and the use of money, and finally to render it powerless; and consequently to sweep away all the crushing masses of fraud, iniquity, cruelty, corruption and imposition that are built upon it.

We cannot allow the heavy weight of the debt to bring us to our knees..

I am not responsible for the financial crisis, I hate to tell you.

Without new money, salaries won't be paid, the health system will stop functioning, the power network and public transport will break down, and they won't be able to import vital goods because nobody can pay.

An attack on the scale of Sept. 11 would rock the markets and the economy.

In the North, neither greenbacks, taxes, nor war bonds were enough to finance the war. So a national banking system was created to convert government bonds into fiat money, and the people lost over half of their monetary assets to the hidden tax of inflation. In the South, printing presses accomplished the same effect, and the monetary loss was total.

Liberalism is unsustainable. When things go wrong in liberalism they pile more liberalism on top. Pretty good example of what's wrong with the US budget, US healthcare. Liberalism breaks it. Government breaks it. They pile more liberalism on top of it until it eventually implodes, like Obamacare is going to, or like Social Security is going to. All of these things, they're not sustainable, because liberalism isn't.

Remember that history always repeats itself. Every great bubble in history has broken. There are no exceptions.