A Quote by David Stockman

The stock market in Japan was half the world market and where has the Japan economy gone since the 1990s? Nowhere. They've been struggling for two decades in the aftermath of a massive bubble that's collapsed. They've tried to work their way out of it by printing even more money and it hasn't worked. Now, I'm saying this is what all the central banks are doing. There is no honest interest rate in the world today.

David Stockman

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Aftermath Banks Been Bubble Central Central Bank Central Banks Collapsed Decades Doing Economy Even Gone Half Honest Interest Interest Rate Japan Market Massive Money More More Money Now Nowhere Out Printing Rate Saying Since Stock Stock Market Struggling Today Tried Two Way Work Worked World World Today

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David Stockman
Born: November 10, 1946

When I say the economy is shrinking, it's the economy of the 99%, the people who have to work for a living and depend on earning money for what they can spend. The 1% makes its money basically by lending out their money to the 99%, on charging interest and speculating. So the stock market's doubled, the bond market's gone way up, and the 1% are earning more money than ever before, but the 99% are not. They're having to pay the 1%.

Michael Hudson

The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or do you want to put it in the stock market?" They're trying to push money into the stock market, into hedge funds, to temporarily bid up prices. Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it's a pro-Wall Street financial engineering gimmick.

Michael Hudson

A higher IOER rate encourages banks to raise the interest rates they charge, putting upward pressure on market interest rates regardless of the level of reserves in the banking sector. While adjusting the IOER rate is an effective way to move market interest rates when reserves are plentiful, federal funds have generally traded below this rate.

Janet Yellen

Since 2008 you've had the largest bond market rally in history, as the Federal Reserve flooded the economy with quantitative easing to drive down interest rates. Driving down the interest rates creates a boom in the stock market, and also the real estate market. The resulting capital gains not treated as income.

Michael Hudson

Yes, when they're buying there are more buyers in the market and that's supportive of the price. The more buyers you have, the firmer the price is going to be. When central banks were selling it was a headwind the market had to overcome. Now it's a tailwind that central banks are joining the buyers.

Peter Schiff

The election of Shinzo Abe as the leader of Japan's ruling Liberal Democratic party and now prime minister will have profound repercussions for Japan and East Asia. Most western commentary during the premiership of Junichiro Koizumi has been concerned with the extent to which Japan has allowed a freer rein to market forces.

Martin Jacques

Over the past three decades, markets and market thinking have been reaching into spheres of life traditionally governed by non-market norms. As a result, we've drifted from having a market economy to becoming a market society.

Michael Sandel

[When] the market is trying to get to terms with, first, lower global growth, particularly out of emerging markets and China. And, second, the market is worried the central banks have run out of ammunition. So put these two things together, and then investors are repricing the market lower.

Mohamed El-Erian

It seems to me that a market exchange rate which is not artificially controlled by central banks enables one to balance the interests of different market players - exporters and importers, investors, borrowers, lenders.

Elvira Nabiullina

To be honest, I've never invested in the stock market. My grandmother used to warn us against the stock exchange. My grandfather had lost a lot money in the share market. We are a working class family.

Pratik Gandhi

People don't put as much of an emphasis in expanding their choices, so that, you know, one of the things that I learned when I was in Japan way back in the 1990's and there were all these quarrels happening between the U.S. and Japan about allowing more American products into the Japanese market.

Sheena Iyengar

Japan's inexplicable lack of response to even consider a move to re-open their market to U.S. beef will sorely tempt economic trade action against Japan.

Saxby Chambliss

We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different.

Jeffrey Sachs

What central banks can control is a base and one way they can control the base is via manipulating a particular interest rate, such as a Federal Funds rate, the overnight rate at which banks lend to one another. But they use that control to control what happens to the quantity of money. There is no disagreement.

Milton Friedman

I actually think that the economy has got some positives. It's got the market. It's got consumer confidence and it's got banks throwing - I mean central bankers throwing money at it around the world.

Jack Welch

If a lot of money goes into the stock market, it'll push up prices, making money for stock speculators. Then the insiders can decide that it's time to sell out, and the market will plunge.

Michael Hudson

A Quote by David Stockman

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