Quotes of the Day

“You will find during times of uncertainty, such as the early 1980s, the Russian crisis or Sept. 11, the bond market becomes very ineffective because investors can disappear overnight”, said Julian van Kan, an analyst from the BNP in London, highlighting the concerns about the difficulties companies have to get loan. (Source: Bloomberg)

Quotes of the Day

“The surprise will not be in the raw numbers, but rather in the composition of growth, which will be transformed forever by companies and industries that probably didn’t even exist in 2009,” economist Joseph G. Carson said, suggesting that it may be not the end for the US economy to grow above the 3 percent annual rate. His view is in contrast with some economists and analysts who expect low growth rates, around 2 percent, for years ahead and see it as a “new normal” for the economy.

Quotes of the Day

“Whenever you have everybody on the same side of the boat, you know what you have to do”, Jim Rogers said, referring to the recent decline in the stock prices and the appreciation of the U.S. dollar.

Quotes of the Day

“As Napoleon said, if you’re going to take Vienna, take Vienna”. It was quoted from a Republican strategist, highlighting Obama’s failure to secure the selection of Chicago for the Olympics summer games in 2016.

Quotes of the Day

“On G-7 meeting weekends now I go fishing, no reporters call and writing up summaries of the G-7 for the most part is pointless as there is no news”, an analyst wrote to clients. The G-7 is expected today to be replaced by the G-20 as the main forum for global economic cooperation.

Quotes of the Day

“A currency, which the country’s own central bank likes to see weak, obviously is not an attractive investment,” a currency analyst said after a comment from Mervyn King, the Bank of England governor, caused the pound to depreciate almost 2 percent against the dollar. The comment showed that the policymakers see the a weaker pound “very helpful” in rebalancing the U.K. economy.

Quotes of the Day

“One should always start to be concerned about inflation when you get a weakening currency, rising commodity prices, and rising gold prices,” an economist said before the FOMC decision when the committee’s statement was expected to show that they are less concerned about inflation, counting on the weak recovery and rising unemployment.

Quotes of the Day

“There is an enormous black hole in the public finances which only major spending cuts can fill.” An economist said after a report showed that the budget deficit in Britain widened to a worrying level as the recession continues to reduce the spending power of Labor government by destroying the tax revenue.

Quotes of the Day

“There needs to be an array of numbers but we need to understand the role of each number. We may not be able to aggregate everything together.”, Joseph Stiglitz, the Nobel Prize-winning economist said, reminding the weakness of the GDP figures in assessing the wealth and the well-being of societies, specifically by not including some challenging issues such as the climate change, environmental sustainability, or the role of national debt in exaggerating the GDP number.

“Ripping the stimulus out prematurely would only pull the rug out from under the recovery, undermine confidence and threaten jobs.”, Australia’s Treasurer Wayne Swan said in a weekly economic note. In recent days, policymakers around the world have showed their concerns that it may still be too soon for cutting back in stimulus efforts.

Quotes of the Day

“The system is essentially unchanged, except that post-Lehman, the survivors have ‘too big to fail’ tattooed on their chests.” , Niall Ferguson said, when the author of “The Ascent Monday” was pointing to the fact that the current regulatory structure could lead to another “Lehman Monday”, referring to the aftermath of the Lehman Brothers bankruptcy on September 15, 2008.

Quotes of the Day

“The classic mistake people make is they declare victory too soon”, U.S. Treasury Secretary Timothy Geithner told to a Congressional panel when he was suggesting that some of the measures, introduced to restore stability to the system, are still needed to be in place.