A Quote by Lee Myung-bak
Fiscal crises often turn into financial crises, dealing a blow to the real economy.
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In the seed and the soil, we find the answers to every one of the crises we face. The crises of violence and war. The crises of hunger and disease. The crisis of the destruction of democracy.
In the immediate postwar era, financial crises in advanced countries were rare events, and before 1970 did not happen at all. Since then they have occurred more often, and 2008 was the most damaging of them all to date. If we have moved back to a regime of regular financial crises - like the one we had from the 1870s to the 1930s - then our economic future will be very different from our recent past.
The essence of the this-time-is-different syndrome is...rooted in the firmly held belief that financial crises are things that happen to other people in other countries at other times; crises do not happen to us, here and now. We are doing things better, we are smarter, we have learned from past mistakes. The old rules of valuation no longer apply. Unfortunately, a highly leveraged economy can unwittingly be sitting with its back at the edge of a financial cliff for many years before chance and circumstance provoke a crisis of confidence that pushes it off.
Over the years, I've been involved in many business crises. I qualify this, since my crises have never involved life and death or the survival of the human race. But they are still crises.
We are inheriting the worst financial system since the Depression. We're inheriting a situation - when people go back and study major banking crises a quarter century from now, the one that America developed in 2007 and 2008 is going to be one of those crises.
When there is pressure for leaders to respond to problems or crises, they often simply intensify their efforts in their particular defined sphere of activity - even if that's not relevant to the real problem. To do otherwise requires taking on entrenched practices and asserting power in areas where it often will not be well received. And leaders tend to see major crises more as threats to their own position rather than as systemic challenges for the societies that they govern or the institutions that they manage.
Human beings are often at their best when responding to immediate crises - car accidents, house fires, hurricanes. We are less effective in the face of enormous but slow-moving crises such as the loss of biodiversity or climate change.
Today, no walls can separate humanitarian or human rights crises in one part of the world from national security crises in another. What begins with the failure to uphold the dignity of one life all too often ends with a calamity for entire nations.
In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems
In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems.
I have a new dream I must be a politician to save this country. There are so many crises in our country. I want to remove these crises.
The Death of Money is an engrossing account of the massive stresses accumulating in the global financial system, especially since the 2008 financial crisis. Jim Rickards is a natural teacher. Any serious student of financial crises and their root causes needs to read this book.
We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
There are opportunities that you get during crises times. Crises times are a great time to start a business.
Financial crises require governments.
If you think about the actual problems we are facing - all the crises - we have the means to solve these crises. The past has shown us we are able to do things we never imagined we would be able to do.
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