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Quote by Daron Acemoglu James A. Robinson

“Економічний розвиток відбувається лише тоді, коли він не блокується економічними невдахами, які відчувають, що їхні економічні привілеї будуть втрачені, й політичними лузерами, які бояться позбутися своєї політичної влади.”

Quote by Daron Acemoglu James A. Robinson

Book:چرا ملت ها شکست می خورند؟

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چرا ملت ها شکست می خورند؟

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Daron Acemoglu James A. Robinson

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“We're in a depression here, not a recession. We have a saying in Puerto Rico: 'Cuando Los Estates Unidos tiene catarro, Puerto Rico tiene pulmonía.' That means 'When the U.S. gets a cold, Puerto Rico gets pneumonia.' Whenever you think it's bad on the mainland, you can guarantee it's worse here.”

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Book:Five Midnights

Source: Five Midnights

“The one plentiful herds of magazine writers would continue to be culled - by the Internet, by the recession, by the American public, who would rather watch TV or play video games or electronically inform friends that, like, 'rain sucks!' But there's no app for a bourbon buzz on a warm day in a cool, dark bar. The world will always want a drink.”

Source: Gone Girl

“Because the lenders sold many—though not all—of the loans they made to other investors, in the form of mortgage bonds, the industry was also fraught with moral hazard. “It was a fast-buck business,” says Jacobs. “Any business where you can sell a product and make money without having to worry how the product performs is going to attract sleazy people.”

Wall Street Recession Mortgage Bonds

Book:The Big Short: Inside the Doomsday Machine

Source: The Big Short: Inside the Doomsday Machine

“They had stumbled either upon a serious flaw in modern financial markets or into a great gambling run. Characteristically, they were not sure which it was. As Charlie pointed out, “It’s really hard to know when you’re lucky and when you’re smart.”

Wall Street Recession Subprime Mortgage Bonds Charles Ledley Cornwall Capital Credit Default Swaps James Mai

Book:The Big Short: Inside the Doomsday Machine

Source: The Big Short: Inside the Doomsday Machine

“He’s always complaining about the fucking recession and how the government is working against people like him. He calls himself working class, which I think is a bit ironic since he doesn’t work.”

Government Work Complaining Ironic Working Class Recession

Book:Det fine som flyter forbi

Source: Det fine som flyter forbi

“It is ludicrous to believe that asset bubbles can only be recognized in hindsight,” he wrote. “There are specific identifiers that are entirely recognizable during the bubble’s inflation. One hallmark of mania is the rapid rise in the incidence and complexity of fraud…. The FBI reports mortgage-related fraud is up fivefold since 2000.” Bad behavior was no longer on the fringes of an otherwise sound economy; it was its central feature.”

Economy Fraud Recession Subprime Mortgage Loans Asset Bubble

Book:The Big Short: Inside the Doomsday Machine

Source: The Big Short: Inside the Doomsday Machine

“The creation of the mortgage bond market, a decade earlier, had extended Wall Street into a place it had never before been: the debts of ordinary Americans.”

Debt Wall Street Recession Mortgage Bonds

Book:The Big Short: Inside the Doomsday Machine

Source: The Big Short: Inside the Doomsday Machine

“With the warmth and pleasure that are the results of an intimate relationship with another human being, whether friend, lover, parent or child , comes the pain to which such intimacy makes us vulnerable. With hearts and minds fused we bruise as easily as we caress.”

Relationships Vulnerability Hurting Others

Book:TREES ON THE CLIFF : A NOVEL OF KOREA AND TWO STORIES

Source: TREES ON THE CLIFF : A NOVEL OF KOREA AND TWO STORIES

“Economic crises breed war.”

War Economics Protectionism Recession

Book:Revolutionary Road to Socialism

Source: Revolutionary Road to Socialism

“Long Beach Savings was the first existing bank to adopt what was called the “originate and sell” model. This proved such a hit—Wall Street would buy your loans, even if you would not!—that a new company, called B&C mortgage, was founded to do nothing but originate and sell.”

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Book:The Big Short: Inside the Doomsday Machine

Source: The Big Short: Inside the Doomsday Machine