Economic Panic Quotes

Under the federal reserve act, panics are scientifically created. The present panic is the first scientifically created one, worked out as we figured, a mathematical equation.

For every criticism of the U.S. economy, whenever people go into a panic, they look around and say, 'That's the cleanest shirt I have. So I'm putting it on.'

Out of the bitter experiences of the panic of 1819 emerged the beginnings of the Jacksonian movement, dedicated to hard money, the eradication of fractional reserve banking in general, and of the Bank of the United States in particular.

I don't believe that all folks who supported Donald Trump are racist. I think that there was a lot of economic anxiety, there was a lot of economic panic. A lot of deep-rooted economic insecurity. I think what Trump did, you know, very astutely, was he tapped into this vein, and he promised them a job.

One day, because they realize for some reason or other that they must stop credit expansion, the banks do stop creating new credit to lend. Then the firms that have expanded cannot get credit to pay for the factors of production necessary for the completion of the investment projects which they have already committed themselves. Because they cannot pay their bills, they sell off their inventories cheap. Then comes the panic, the breakdown. And the depression starts.

Then, when the Fed's fire hoses started spraying an elephant soup of liquidity injections in every direction, and its balance sheet grew by $1.3 trillion in just thirteen weeks compared to $850 billion during its first ninety-four years, I became convinced that the Fed was flying by the seat of its pants, making it up as it went along. It was evident that its aim was to stop the hissy fit on Wall Streetm and that the thread of a Great Depression 2.0 was just a cover story for a panicked spree of money printing that exceeded any other episode in recorded human history.

In economic panics throughout history, the wiping out of the savings accounts of lower earners and the middle class has often led to social revolution, sometimes violent upheavals.

I think it's hard to understand in economics. It's easier to understand on psychology.It's a kind of panic or a sense that the world economy is just not in as good shape as we thought and so everybody is chasing everybody else.

Tis surprising to see how rapidly a panic will sometimes run through a country. All nations and ages have been subject to them

It should be illegal to yell 'Y2K' in a crowded economy.