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— Susanna Lau"I was a bit of a dozy kid, so everyone just started calling me Susie Bubble and it stuck. Style Bubble is sort of like being stuck inside the style side of my brain. That doesn't sound very appealing, does it?"
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If you get a flow of credit increasing, as we've seen in the last few years - that flow of credit didn't go to more wealth accumulation as we normally use the term in economics, as capital goods. What you got is an increase in bubbles of one kind or another.
— Joseph Stiglitz
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Negative effects on the economy were covered up with a flood of liquidity from the Fed. That,plus lax regulation, led to a housing bubble, a consumption boom - but we were living on borrowed money. It was inevitable that there would be a day of reckoning, and it has now come. We will be paying the costs "with interest".
— Joseph Stiglitz
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