A Quote by Willem Buiter
Time is running out fast. I think we have maybe a few months -- it could be weeks, it could be days -- before there is a material risk of a fundamentally unnecessary default by a country like Spain or Italy which would be a financial catastrophe dragging the European banking system and North America with it. So they have to act now.
Quote Topics
Quote Author
Related Quotes
If investors avoid the Treasury market, we could be unable to pay off maturing securities, which would mean an immediate default. Market participants generally agree that even a brief default would create potentially catastrophic risks to the financial system, like the meltdown of 2008.
I think the regime in North Korea is more fragile than people think. The country's economic system remains desperate, and one thing that could happen for example would be under a new government in South Korea, to get the South Korean government to live up to its own constitution, which says any Korean who makes it to South Korea, is a Korean citizen. A citizen of the Republic of Korea. And you could imagine the impact that would have inside North Korea if people thought, "If I could get out and make it to South Korea, I could have a different life."
What would've happened, do you think, had the government not intervened in October 2008? The catastrophe to the economy would've been absolutely unbelievable. And yet classical economists say, "Oh, well, no, it would've adjusted perfectly happily, a few weeks of pain and then everything would've gone on as before, without a banking system left." And that's what makes it so maddening, that these bankers are back saying it was all the government's fault. The government saved their skins. It didn't want to, but it needed to save their skins in order to save the rest of us.
There is a difference between strategic or technical default and default where you really don't have the economy to support the spending. We are not at that point yet. We could be. We could be, like some European nations.
I wondered how long it could last. Maybe someday, years from now.If the pain would decrease to the point where I could bear it.I would be able to look back on those few short months that would always be the best of my life.
Italy spills over to everything. Italy is a huge banking system. It has been the major banking system in Eastern Europe. It's worked with Austria's banking system. There's all sorts of interplays there. So it's not the PIIGS one should worry about. Germany hasn't even begun falling yet. And when Germany falls, and it will, that's when the panic begins to set in.
I was terrified of vault, like literally I hated it. I had a fear of running as fast as I could at a solid object, which is I think a normal fear to have because nobody would really want to do that. Once I got over the fear of running into the table I just kind of relaxed and now it's like autopilot. I love it.
Our life is made up of time; our days are measured in hours, our pay measured by those hours, our knowledge is measured by years. We grab a few quick minutes in our busy day to have a coffee break. We rush back to our desks, we watch the clock, we live by appointments. And yet your time eventually runs out and you wonder in your heart of hearts if those seconds, minutes, hours, days, weeks, months, years and decades were being spent the best way they possibly could. In other words, if you could change anything, would you?
It is very different to make a practical system and to introduce it. A few experiments in the laboratory would prove the practicability of system long before it could be brought into general use. You can take a pipe and put a little coal in it, close it up, heat it and light the gas that comes out of the stem, but that is not introducing gas lighting. I'll bet that if it were discovered to-morrow in New York that gas could be made out of coal it would be at least five years before the system would be in general use.
Yeah, about sixteen to twenty weeks a year. For example, we can do America in six or seven weeks. You can do Europe in three weeks; England in two weeks. South America you could do in three weeks; Asia you could do in three weeks.
In the coming days and weeks, Laila would scramble frantically to commit it all to memory, what happened next. Like an art lover running out of a burning museum, she would grab whatever she could--a look, a whisper, a moan--to salvage from perishing to preserve. But time is the most unforgiving of fires, and she couldn't, in the end, save it all.
The battle of the euro is being fought right now in Spain and Italy...The future of the euro is at stake in the next few weeks...
I didn't know that I could act, but my friend told me, 'Before you do directing, maybe you should try acting. It would be better for you. When you know how to act, it would help you be a better director.' So I was like, Oh, maybe, okay, maybe I'll try.
I really wasn't even sure if I should continue acting. I would like try and figure out if I could be good enough to do it. It was like 10 or 12 years into my career before I felt like maybe I can do it. It was such a different time than now.
Um, 'Soul Food'... Another wonderful little movie that could. Here's a film that, I think our budget was maybe $6 million. We shot it in Chicago in six weeks. I was so proud of the film, because it showed America that an African-American film about family could sell, could do well, could cross over and have true meaning.
I think one could argue that there's more political input into the regulatory side, and on the regulatory side there seem to be fewer people with financial and banking experience - there are more lawyers, academics, economists, maybe politicians now.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Milton Friedman Quotes
American
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist