“The FHA's success provides strong evidence that government can and should play a role in the nation's mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it.” ShouldHas BeensPlayGovernmentStrongNationsRolesEconomyEvidenceFinanceInterventionMessyMortgageRecessionsGovernment InterventionGreat Recession Author:Mark Zandi
“It has become fashionable to rail against government intervention in the economy, and the FHA is a favorite example by those trying to show the government's overreach. In reality, the FHA shows how government action during the Great Recession forestalled a much worse economic fate.” TryingShowsRealityGovernmentActionEconomyFateEconomicExampleInterventionFashionableRecessionsRailGovernment InterventionGreat Recession Author:Mark Zandi
“Too-easy credit and millions of bad loans made during the U.S. housing bubble paved the way for the financial calamity and Great Recession that followed. Today, by contrast, credit is too tight. Mortgage loans are particularly hard to get, creating a problem for the housing market and the broader economy.” WayMadeHardProblemTodayEasyMillionsEconomyCreatingFinancialCreditBubblesContrastHousingLoanCalamityMortgageRecessionsGreat RecessionHousing MarketHousing Bubble Author:Mark Zandi
“I've lived through periods of illiquidity before. Asset prices come down. The economy slows or even goes into recession. Then the cycle re-starts. We buy at lower prices with less leverage.” EconomyPeriodsCyclesAssetsRecessions Author:Stephen A. Schwarzman
“As the United States continues its slow but steady recovery from the depths of the financial crisis, nobody actually wants a massive austerity package to shock the economy back into recession, and so the odds have always been high that the game of budgetary chicken will stop short of disaster. Looming past the cliff, however, is a deep chasm that poses a much greater challenge -- the retooling of the country's economy, society, and government necessary for the United States to perform effectively in the twenty-first century.” WantFirstsCountryStatesGovernmentPastGamesChallengesUnitedUnited StatesEconomyGreaterCenturyTwentiesCrisisDepthFinancialDisasterRecoveryShockMassiveChickensSteadyOddsPackagesCliffsRecessionsFinancial CrisisChasmsAusterityLooming Author:Fareed Zakaria
“The fears of recession in the aftermath of Black Monday have turned to fears of the economy racing ahead too fast, with inflation edging up and a substantial current account deficit... People understandably feel more confident about their future than they've done for decades, but as a result they have been borrowing more and saving less... Coming on top of a massive income investment boom, it's all been just a bit too much of a good thing.” PeopleFeelsHas BeensDoneBitsBlackResultsEconomyToo MuchAccountsGood ThingsInvestmentCurrentsDecadesIncomeSavingMassiveRacingMondayInflationDeficitRecessionsBorrowingAftermathToo Much Of A Good Thing Author:Nigel Lawson
“[Obama White House] rescued the economy from the worst recession.” HouseWhiteEconomyWorstWhite HouseRecessions Author:Rahm Emanuel
“When George Bush finally leaves the White House, the satire industry will briefly join the rest of the economy in recession. It will certainly be the end of an era.” EndsHouseWhiteEconomyIndustryErasSatireWhite HouseRecessions Author:Rory Bremner
“Broadly speaking, Keynesianism means that the government has a specific responsibility for the behavior of the economy, that it doesn't work on its own autonomous course, but the government, when there's a recession, compensates by employment, by expansion of purchasing power, and in boom times corrects by being a restraining force. But it controls the great flow of demand into the economy, what since Keynesian times has been the flow of aggregate demand. That was the basic idea of Keynes so far as one can put it in a couple of sentences.” MeanHas BeensIdeasGovernmentCoursesForceResponsibilityEconomyCoupleDemandBehaviorEconomicsFlowSentencesEmploymentExpansionRecessionsAutonomousPurchasingRestrainingKeynesPurchasing PowerKeynesianism Author:John Kenneth Galbraith
“I have always believed that this idea of having a nation go through this very painful five or six years of continuous recession with high unemployment would be detrimental for the economy and the society.” YearsIdeasWould BeNationsEconomyFiveSixPainfulUnemploymentAlways BelieveRecessionsDetrimental Author:Antonis Samaras
“Clearly, high energy prices will have a large negative effect on the California economy and could possibly drag the rest of the nation into a recession.” EnergyNationsEconomyEffectsNegativeCaliforniaDragRecessionsHigh Energy Author:Doug Ose
“We got into a recession because the global economy went into the recession and we're a big exporting nation.” BigsNationsEconomyRecessionsGlobal EconomyExporting Author:Stephen Harper
“Canada is in budgetary deficit now only because of the recession, only because of stimulus measures, and we will come out of it. We will go back into surplus position when the economy recovers. So there is no need in Canada to raise taxes.” NeedsEconomyPositionTaxesRaisesCanadaDeficitStimulusRecessionsSurplus Author:Stephen Harper
“The backlash against women's rights would be just one of several powerful forces creating a harsh and painful climate for women at work. Reagonomics, the recession, and the expansion of a minimum-wage service economy also helped, in no small measure, to slow and even undermine women's momentum in the job market. But the backlash did more than impede women's opportunities for employment, promotions, and better pay. Its spokesmen kept the news of many of these setbacks from women. Not only did the backlash do grievous damage to working women C it did on the sly.” Would BeJobsOpportunityForcePowerfulPayEconomyRightsCreatingNewsClimatePainfulEmploymentDamageJust OneDishesWomens RightsMinimumHarshExpansionPromotionMomentumSetbackRecessionsMinimum WageSlyBacklashWorking ManWorking Women Author:Susan Faludi
“At times of recession, running a budget deficit is highly desirable. Once the economy begins to recover, you have to balance the budget. But it will also need additional revenues. Should the government not receive them, we will all get punished with higher interest rates.” NeedsShouldGovernmentRunningInterestEconomyBalanceHigherRateBudgetsOver YouDesirableRevenueDeficitRecessionsInterest RateBudget Deficit Author:George Soros
“When women were excluded from New Deal programs, Eleanor Roosevelt fought to include them. Roosevelt was among a handful of leaders who realized the US economy would not escape the depths of recession without the full contributions of women.” DealsLeaderEconomyProgramDepthContributionHandfulRecessionsExcludedEleanorNew Deal Author:Lael Brainard
“Consumer spending is now plunging at serious-recession rate ... even if the rescue now in train succeeds in unfreezing credit markets, the real economy has immense downward momentum. In addition to financial rescues, we need major stimulus programs.” IfsNeedsRealEconomySeriousSucceedMajorsProgramTrainRateFinancialCreditSpendingConsumersImmenseRescueMomentumStimulusRecessions Author:Paul Krugman