More than four years after the financial crisis began, the world's major advanced economies remain deeply depressed, in a scene all too reminiscent of the 1930s. And the reason is simple: we are relying on the same ideas that governed policy in the 1930s. These ideas, long since disproved, involve profound errors both about the causes of the crisis, its nature, and the appropriate response.These errors have taken deep root in public consciousness and provide the public support for the excessive austerity of current fiscal policies in many countries. So the time is ripe for a Manifesto in which mainstream economists offer the public a more evidence-based analysis of our problems.
Paul KrugmanRelated topics
begin deep fiscal four manifesto nature offer public reason remain reminiscent ripe root scene simple support take 1930s years mainstreamRelated quotes
Have full-blown contact now. [The ongoing contacts] have been well documented here with multiple eyewitnesses as well as day and night footage with sound of the ships. Can provide all the eyewitnesses you wish. Two days ago I was hit with three balls of light within a stream of energy, after which a woman appeared to me with a strange headdress used for communication and other higher consciousness and energy works. The ship came in as a golden light from the north. It dropped down low and hovered. I have been [burnt] on my chest right over the heart. It has been photographed. These beings are extremely spiritual and technologically advanced. They have a message. This is not airy fairy, this is for real.
James Gilliland
The monetary history of the last four hundred years has been replete with financial crises. The pattern was that investor optimism increased as economies expanded, the rate of growth of credit increased and economic growth accelerated, and an increasing number of individuals began to invest for short-term capital gains rather than for the returns associated with the productivity of the assets they were acquiring. The increase in the supply of credit and more buoyant economic outlook often led to economic booms as investment spending increased in response to the more optimistic outlook and the greater availability of credit, and as household spending increased as personal wealth surged.
Charles P. Kindleberger
As Ralph Ellison wrote more than 35 years ago, 'Why is it so often true that when critics confront the American as Negro, they suddenly drop their advanced critical armament and revert with an air of confident superiority to quite primitive modes of analysis?' Those matters accomplished by whites are routinely subjected to sophisticated modes of analysis. But the when the selfsame matters are accomplished by blacks, the opaque racial prism of analysis precludes such sophistication, and all is seen in black and white. And some who would not venture onto the more sophisticated analytical turf are quite content to play in the minor leagues of primitive harping. The more things change, the more they remain the same.
Clarence Thomas
She turned out to be the wife of a man who was then the prime minister of a major country. I'd heard stories about this lady, but I never thought much of them until that night. We met at the house of the friend who'd phoned me. After we'd all chatted for a while in the living room, the four of us who already knew each other drifted out to the kitchen, leaving Ben and Madame X in the living room to get better acquainted. Which they did. In fact, when we drifted back in, about ten minutes later, she and Ben were involved in an incredibly torrid scene on the couch. I remember standing there and thinking to myself, "Well, Donald, you're not in Queens anymore."
Donald Trump
Only a year after the collapse of the Third Reich a strangely conclusive piece of evidence can be advanced to support the claim that "fanatical", this key National Socialist term, never really had the sting taken out of it by excessive use. For although scraps of the LTI surface all over the place in contemporary language, "fanatical" has disappeared. From this one can safely conclude that either consciously or subconsciously people remained aware of the real facts of the case all through those twelve years, namely, that a confused state of mind, equally close to sickness and criminality, was for twelve years [of Nazi rule] held to be the greatest virtue.
Victor Klemperer