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Economic Quotes

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Economic Quotes

“Nicaragua is a World Bank and International Monetary Fund designated "heavily indebted poor country," with little legal ability to control its economic future: Everything is for sale. And once Nicaraguans decide to cash in and sell their houses or farms, they have to look far inland for anything affordable.”

“President Bush is an intelligent man. He is not going to declare an economic war against Iraq . [...] I admire your extraordinary efforts to rebuild your country. I know you need funds. We understand that, and our opinion is that you should have the opportunity to rebuild your country. But we have no opinion on Arab-Arab conflicts like your border disagreement with Kuwait .”

“In the first place, it is obvious that not only is wealth concentrated in our times but an immense power and despotic economic dictatorship is consolidated in the hands of a few, who often are not owners but only the trustees and managing directors of invested funds which they administer according to their own arbitrary will and pleasure. This dictatorship is being most forcibly exercised by those who, since they hold the money and completely control it, control credit also and rule the lending of money.”

“Will customers keep supporting the enormous overhead required to sustain ineffectual, unproductive stock picking across an array of thousands of individual funds devoted to every investing 'style' and economic sector or regional subgroup that some marketing idiot can dream up? Not likely. A brutal shakeout is coming and one of its revelations will be that stock picking is a grossly overrated piece of the puzzle, that cost control is what distinguishes a competitive firm from an uncompetitive one.”

“Liberals believe and inexhaustible fund exists that can be tapped endlessly to pay for government social programs. Tax the rich and give it to a long line of moochers, pork barrel hustlers and ne'er-do-wells. These funds would otherwise have been employed as additional capital indispensable to economic progress.”

“Beware leverage in all its forms. Borrowers - individual, corporate, or government - should always match fund their liabilities against the duration of their assets. Borrowers must always remember that capital markets can be extremely fickle, and that it is never safe to assume a maturing loan can be rolled over. Even if you are unleveraged, the leverage employed by others can drive dramatic price and valuation swings; sudden unavailability of leverage in the economy may trigger an economic downturn.”

“The growing inequality of wealth and income distribution is both a moral and economic problem. If the wealthy are unwilling to pay more taxes, then this is going to lead to spending cuts. And if you put off the table things like national defense, then you're going to end up cutting more and more out of programs that aid the poor. So, I think there are consequences to this idea that tolerance for inequality requires us to - to just do nothing to make the wealthy contribute a higher share of resources to fund the government.”

“The World Trade Organization, The World Bank, The International Monetary Fund and other financial institutions virtually write economic policy and parliamentary legislation. With a deadly combination of arrogance and ruthlessness, they take their sledgehammers to fragile, interdependent, historically complex societies and devastate them, all under the fluttering banner of 'reform'.”

“In Egypt the neoliberal programs have meant statistical growth, like right before the Arab Spring, Egypt was a kind of poster child for the World Bank and the IMF [International Monetary Fund:] the marvelous economic management and great reform. The only problem was for most of the population it was a kind of like a blow in the solar plexus: wages going down, benefits being eliminated, subsidized food gone and meanwhile, high concentration of wealth and a huge amount of corruption.”

“Anecdote: The East End seemed to be in the grip of yet another economic crisis. ... By the winter of 1933, an army of the unemployed gathered daily outside the dock gates, desperate for a day or 2 paid work. .... There was no cushion, no disaster fund, no stashed savings, no government handouts no syrup that could sweeten the bitter pill of poverty.”

“Our Government understands that local, community organizations are essential in addressing social issues like economic development, poverty, education and integration in Canadian communities. The Community and College Social Innovation Fund will connect the innovative talent of researchers and students at colleges and polytechnics to meet the research needs of local community organizations to build stronger, safer, healthier communities.”

“The Huffington Post Investigative Fund's goal is to produce a broad range of investigative journalism created by both staff reporters and freelance writers, with a focus on working with the many experienced reporters and writers impacted by the economic contraction. The pieces will range from long-form investigations to short breaking news stories and will be presented in a variety of media - including text, audio, and video.”