Rates Quotes - page 3
Greece will not manage to get back on its feet without restructuring its debt. There is no way around it. The country's creditors will have to reduce a portion of its debts by extending maturity dates, lowering interest rates or giving them what's called a 'haircut' in financial jargon.
Peer Steinbruck
A solution of newly appearing economic problems, and in particular those connected with the scientific-technical revolution often cannot be based on existing methods but needs new ideas and approaches. Such one is the problem of the protection of nature. The problem of economic valuation of technical innovations efficiency and rates of their spreading cannot be solved only by the long-term estimation of direct outcomes and results without accounting peculiarities of new industrial technology, its total contribution to technical progress.
Leonid Kantorovich
The time has come to speak out. Britain is now locked in a vicious spiralling interest rates...The net result of completing the vicious circle is that prices have increased, the rate of inflation has gone up, the money supply has increased, unemployment has gone up, the rate of bankruptcies has increased, the industrial base has been further eroded, the Government's borrowing requirement has increased and as a result there is more pressure to raise interest rates yet again, to be followed inevitably by the same vicious circle. It is this that must be broken.
Edward Heath
I did say in print, in February, 1929 that there was no hope for economic recovery in Europe before American interest rates came down. That wouldn't be until the American boom collapsed - which was likely to happen within the next few months.And this did, in fact, happen in October 1929.
What made me expect this, of course, was one of my main theoretical beliefs - that an inflationary boom cannot be maintained indefinitely. I was sure that a very unstable situation was created by the artificial prolongation of the boom in 1927, when the Federal Reserve tried to stave off a collapse by credit expansion.
Friedrich Hayek
I would summarize the Keynesian view in terms of four points:1. Economies sometimes produce much less than they could, and employ many fewer workers than they should, because there just isn't enough spending. Such episodes can happen for a variety of reasons; the question is how to respond.
2. There are normally forces that tend to push the economy back toward full employment. But they work slowly; a hands-off policy toward depressed economies means accepting a long, unnecessary period of pain.
3. It is often possible to drastically shorten this period of pain and greatly reduce the human and financial losses by "printing money”, using the central bank's power of currency creation to push interest rates down.
4. Sometimes, however, monetary policy loses its effectiveness, especially when rates are close to zero. In that case temporary deficit spending can provide a useful boost. And conversely, fiscal austerity in a depressed economy imposes large economic losses.
Paul Krugman
There are many cases where landlords take advantage of the needs of municipalities and even of national needs and of the monopoly which they have got in land in a particular neighbourhood in order to demand extortionate prices. Take the very well-known case of the Duke of Northumberland, when a county council wanted to buy a small plot of land as a site for a school to train the children who in due course would become the men labouring on his property. The rent was quite an insignificant thing; his contribution to the rates I think it was on the basis of 30s. an acre. What did he demand for it for a school? £900 an acre. All we say is this-if it is worth £900, let him pay taxes on £900.
David Lloyd George
