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Stress Quotes

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Stress Quotes

“Financial innovation can be highly dangerous, though almost no one will tell you this. New financial products are typically created for sunny days and are almost never stress-tested for stormy weather. Securitization is an area that almost perfectly fits this description; markets for securitized assets such as subprime mortgages completely collapsed in 2008 and have not fully recovered. Ironically, the government is eager to restore the securitization markets back to their pre-collapse stature.”

“The nature of the economic system should be a matter for public choice, and free market capitalism should not be accepted without any discussion of the rich variety of alternatives ... Unlike civil laws, economic laws are imposed on people with all the authority of immutable laws of nature. But the economy is created by people, supported by government intervention, regulation, statute and subsidy, and implemented in such a way that it gives substantial wealth and power to a privileged few, while the majority face a life of relentless work, stress and periodic financial insecurity.”

“As I write in 2012 we certainly do not believe that it is over yet, and the worst may be yet to come. Efforts by governments to solve the underlying problems responsible for the crisis have still not gotten very far, and the 'stress tests' that governments have used to encourage optimism about our financial institutions were of questionable thoroughness.”

“Being a startup entrepreneur is not for everybody and it’s not the only desirable career choice. I also know that many people have families and cost obligations that don’t allow the kinds of financial risks associated with starting a company. And for others the hours, stresses and sacrifices in personal relationships are not worth it.”

“Altermodern is an in-progress redefinition of modernity in the era of globalisation, stressing the experience of wandering in time, space and mediums. The term 'altermodern has its roots in the idea of 'other-ness (Latin alter = 'other, with English connotation of 'different) and suggests a multitude of possibilities, of alternatives to a single route. It suggests that the historical period defined by postmodernism is coming to an end, symbolised by global financial crises.”

“I get heartfelt thanks from all kinds of people. Today I heard from a waitress in Georgia who has lost her job and is trying to figure out how her local bank can change the terms on her credit card, and I heard from a physicist at a major research university who wants to explain a better theory of financial stress tests.”

“Market values are fixed only in part by balance sheets and income statements; much more by the hopes and fears of humanity; by greed, ambition, acts of God, invention, financial stress and strain, weather, discovery, fashion and numberless other causes impossible to be listed without omission.”