Downturn Quotes

From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts. (Ron Paul)

In a period of economic downturn, the overwhelming instinct is to pare back, cut costs, and lay off. If you do that, do so with your strategy in mind. The worst mistake is to cut across the board. Instead, reconnect and recommit to a clear strategy that will distinguish yourself from others.

Michael E. Porter

The President's political travel is going to get blamed (and probably rightly) for a share of this downturn.

Robert Teeter

Most analysts would agree that if all the undocumented immigrants in California were deported in one day, our state would experience a severe economic downturn. This does not even consider the many cultural and spiritual gifts these immigrants bring to our state and nation.

Roger Mahony

A crash really occurs when you suddenly have a violent downturn in the market that then heralds a long bull market.

Ron Chernow

The best you can say about economic policy in this slump is that we have for the most part avoided a full repeat of the Great Depression. I say "for the most part” because we actually are seeing a Depression-level slump in Greece, and very bad slumps elsewhere in the European periphery. Still, the overall downturn hasn't been a full 1930s replay. But all of that, I think, can be attributed to the financial rescue of 2008-2009 and automatic stabilizers. Deliberate policy to offset the crash in private spending has been largely absent.

Paul Krugman

There is a broad consensus, not only in the United States but in most of the world, that if you are in an economic downturn, you need to stimulate. Germany seems to be an exception.

Joseph Stiglitz

This crisis is not simply a more severe version of the usual business cycle recession, the typical downturn in which economies ultimately adjust and stabilize.

Timothy Geithner

While it's impossible to be completely prepared for a downturn of this magnitude, we began priming ourselves for a weakening economy earlier last year. We have implemented strict cost cutting measures across all our operations. We have reduced headcount in individual businesses where appropriate and we've scaled back on capital expenditures. Even in plush times, we have never been a company that tolerates fat. So in times like these, we are better positioned to weather this cycle than our competitors.

Rupert Murdoch

Because of piracy there has been a massive downturn in people buying music, which makes it more difficult for artists to make money from the sale of records.

Lily Allen

The problem for China is political. China is held together by money, not ideology. When there is an economic downturn and the money stops rolling in, not only will the banking system spasm, but the entire fabric of Chinese society will shudder. Loyalty in China is either bought or coerced. Without available money, only coercion remains. Business slowdowns can generally lead to instability because they lead to business failure and unemployment. In a country where poverty is endemic and unemployment widespread, the added pressure of an economic downturn will result in political instability. (George Friedman)

You know, if I listened to Michael Dukakis long enough, I would be convinced we're in an economic downturn and people are homeless and going without food and medical attention and that we've got to do something about the unemployed.

Ronald Reagan

The all-inclusiveness of the equilibrium concept in New Classicism warns against comparisons of EBCT and ABCT that ignore the radically different methodological contexts. For instance, the inevitable bust that figures importantly in ABCT cannot easily be translated into the language of EBCT. For the Austrians, "equilibrium bust" is a term at war with itself; for the New Classicists, "disequilibrium bust" can only mean an unexplainable downturn.

Roger Garrison

Women's golf definitely hit a bump in the road. We lost some tournaments due to a combination of things led by the downturn in the economy.

Hollis Stacy

The impact of the downturn is starting to feel very real. House prices and the housing market have been taking the knock for some time and that's affecting people.

Lucy Powell

Raising taxes in an economic downturn is not a good idea.

Martha McSally

Let me put it very forcefully: No large economy has ever recovered from an economic downturn through austerity. It's not going to happen in the United States, and it's not going to happen in Europe.

Joseph Stiglitz

A perfect storm is in the making: financial uncertainty, economic downturn, government cuts, rising unemployment and a future that looks less clear the more we try to fathom it.

Jonathan Sacks

I talk to a lot of librarians, and there's always a steady drumbeat of how libraries are places of community. But a lot of them have also recently - and just in the nick of time - refurbished, because during this economic downturn, people have a tendency to borrow instead of buy.

Paula Poundstone

Protectionism is a very real danger. It is understandable that in times of a severe downturn protectionist pressures mount but the lessons of history are clear. If we give in to protectionist pressures, we will only send the world into a downward spiral.

Manmohan Singh

Creative destruction can apply to economic concepts as well. And this downturn offers an excellent opportunity to get rid of one that has long outlived its usefulness: gross domestic product. G.D.P. is one measure of national income, of how much wealth Americans make, and it's a deeply foolish indicator of how the economy is doing. It ought to join buggy. (Eric Zencey)

I have noticed in this economic downturn that more of my friends talk about God...

John Townsend

There is certainly a very large decision to be made by humanity when we are faced with it, and there are many reactionary forces in the world resistant to change. War and the production of armaments is a very lucrative business for some people who will resist change to the last. The present world economic collapse (presented as a 'downturn' or 'recession') is in fact the signs of the end of the old order, and is already bringing about a change in attitude among many people, young and old. When these same people hear Maitreya speak of the need to simplify and share resources to attain peace through justice, they will respond willingly to His call. His teaching and advocacy will inspire a huge response of desire for sharing, justice and thus peace. It is up to ourselves, we have to want peace enough to relinquish the past and work for the one humanity. I am sure we shall do so.

Benjamin Creme