Not every business cycle has a financial crisis. Frequently they do.
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This crisis is not simply a more severe version of the usual business cycle recession, the typical downturn in which economies ultimately adjust and stabilize.
Financial crises are like fireworks: they illuminate the sky even as they go pop.
A financial crisis is a great time for professional investors and a horrible time for average ones.
It is indeed true that the stock market can forecast the business cycle.
Fiscal crises often turn into financial crises, dealing a blow to the real economy.
There are always, of course, job losses of a cyclical nature in a recession.
On Wall Street, financial crisis destroys jobs. Here in Washington, it creates them. The rest is just details.
The 'boom-bust' cycle is generated by monetary intervention in the market, specifically bank credit expansion to business.
Financial crises require governments.
We simply can't spend our way out of a recession.
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