Investment bubbles and high animal spirits do not materialize out of thin air. They need extremely favorable economic fundamentals together with free and easy, cheap credit, and they need it for at least two or three years. Importantly, they also need serial pleasant surprises in such critical variables as global GNP growth.
Jeremy GranthamRelated topics
air animal cheap credit critical easy favorable free growth high investment least need pleasant serial thin three fundamentals years spirits global bubbles gnpRelated quotes
I've never forgotten what it's like to be in your early twenties, which is not a particularly easy time. You've left your family, you've left the strictures of high school, and you're trying to break free and form yourself but you have to support yourself as well. We don't really give enough credence to that time of life and to its troubles.
Julia Leigh
Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0% balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy.
Frances O'Grady
We scent the air of the office. We realize that certain things are wanted, certain things unwanted. There is an atmosphere favorable to Fascism. We find that out when some little pro-Mussolini item is played up, some big item, not so pleasant to the hero of our era, played down, or left out. In the future we send pro-Mussolini stuff only. We get a cable of congratulations.
George Seldes
America's downgrade may serve as a wakeup call for its policymakers. It is an unambiguous and loud signal of the country's eroding economic strength and global standing. It renders urgent the need to regain the initiative through better economic policymaking and more coherent governance.
Mohamed El-Erian
Libraries raised me. I don't believe in colleges and universities. I believe in libraries because most students don't have any money. When I graduated from high school, it was during the Depression and we had no money. I couldn't go to college, so I went to the library three days a week for 10 years.
Ray Bradbury
