A Quote by Joseph Stiglitz

The recovery of the banks is what happens when you reduce competition, lend money to them at zero interest rates, allow them to gamble. That particular style of restoration actually inhibits the economic recovery.

Joseph Stiglitz

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Actually Allow Banks Competition Economic Economic Recovery Gamble Happens Interest Interest Rate Interest Rates Lend Money Particular Rates Recovery Reduce Restoration Style Them Zero

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Joseph Stiglitz
American - Economist
Born: February 9, 1943

What happens at the Fed, what Janet Yellen and the other people decide there, what happens in central banks in other parts of the world is very important. This can make the difference between a high unemployment rate, a slow recovery or a more rapid recovery.

Paul Romer

You can forget about recovery. There is no recovery - and there's not going to be any recovery. Recovery is an impossibility.

Bill Bonner

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

Interesting statistic: In every economic recovery until 1982, working people captured more than 80 percent of the value of the recovery. Since 1982, the top 10 percent has captured 90 percent of the value of the economic recovery.

Julianne Malveaux

Negative interest rates hurt banks' balance sheets, with the 'wealth effect' on banks overwhelming the small increase in incentives to lend.

Joseph Stiglitz

A government subsidized economic recovery, is not an economic recovery - it's an entitlement state.

Tommy Tuberville

The most essential factor to economic recovery today [1932] is the restoration of confidence.

Herbert Hoover

Here's the interesting thing: the fact that QE and lowering interest rates almost to zero has worsened inequality, does not mean that raising interest rates will help reduce inequality.

Gerald Epstein

But my activities have been pretty much focused in the last almost 30 years on the recovery, of my own recovery, the understanding for my family of my recovery.

Betty Ford

I would be strongly committed to working with the FOMC to continue promoting a robust economic recovery ... I consider it imperative that we do what we can to promote a very strong recovery.

Janet Yellen

Teaching emotional intelligence skills to people with life-threatening illnesses has been shown to reduce the rate of recurrence, shrink recovery times, and lower death rates.

Travis Bradberry

The bankers might not have said it in so many words, but gradually their strategy emerged: Target families who were already in a little trouble, lend them more money, get them entangled in high fees and astronomical interest rates, and then block the doors to the bankruptcy exit if they really got in over their heads.

Elizabeth Warren

If some of the recovery money had gone to cities instead of states, the urban population, read "Black" and "Brown," would be better off with recovery jobs.

Julianne Malveaux

When banks place credits into your account, they are merely pretending to lend you money. In reality, they have nothing to lend. Even the money that non-indebted depositors have placed with them was originally created out of nothing in response to someone else's loan. So what entitles the banks to collect rent on nothing? It is immaterial that men everywhere are forced by law to accept these nothing certificates in exchange for real goods and services. We are talking here not about what is legal, but what is moral.

G. Edward Griffin

The central banks cannot control interest rates. That's a mistake. They can control a particular rate, such as the Federal Funds rate, if they want to, but they can't control interest rates.

Milton Friedman

Most banks - with Deutsche Bank at the top of the spectrum here - have decided that they can't make money lending to barrowers anymore, so they're going to the second business plan: They lend money to casino capitalists. That is, to people who want to gamble on derivatives.

Michael Hudson

A Quote by Joseph Stiglitz

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