I have a thing about financial market quotes at the moment. Here are a couple of my favourite ones:
"Those who already own a house are only mildly concerned by the modest falls in the value of their homes, after all, the value of their property has practically doubled in the last six years. However many are already questioning whether this is the time to sell, and whether they shouldn't hang on until the market resumes its normal upward trend."
Grainne Gilmore, The Times economics correspondent
"The trend is no longer your friend"
Michael Turvey, INVESTools
Why would anyone buy the obligations of a shaky deficit-ridden political system in a currency that appears fundamentally unsound?
Martin Hutchinson, the Bear's Lair
“The repricing of risk…is not a process that we should try to reverse.”
Mervyn King, Governor of the Bank of England
"Up until this point in time, the market and the regulators have had to rely on the bond insurers and the rating agencies to calculate their own losses in what we deem a self-graded exam. Now the market will have the opportunity to do its own analysis.''
William Ackman, managing partner of Pershing Square Capital Management.
"Inflation is a regressive tax. Whether you earn less than $30,000 or more than $300,000, you spend about the same on gasoline, but at $30,000 a year an extra $375 is close to 2 percent of your entire after tax income."
FRED, iTulip Administrator
Am I Mr. Brightside? No, I believe that subprime's awful, even worse than the bears think.