Barry Ritholtz Quotes

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Barry Ritholtz Quotes

"Believe it or not, there was a time when this great nation of ours actually believed in allowing consumers in the marketplace to choose the winners and losers of an industry. History has repeatedly shown us that this is more efficient allocator of capital than representative governments or dictatorial central planners. Alas, it is a lesson easily forgotten." ~ Barry Ritholtz


"It is the very first rule of economics: There is no free lunch. If you drop rates down to ultralow levels, there will be significant repercussions. There was a reason these actions had never been done before by any prior Fed chief. There are costs associated with supposedly free money. Rates this low were incredibly inflammatory. More than a few economists warned that this would lead to a massive surge in dollar devaluation, inflation, even speculation and other unintended consequences. Someone at the Fed should have listened to them." ~ Barry Ritholtz


"In most business cycles, it is the economy that drives real estate. Job creation and wage growth are the key drivers of home purchases. Buyers save for a down payment, get approved for a mortgage, and then go shopping to buy home. While interest rates are an important factor, in the typical cycles it’s the economy that matters most." ~ Barry Ritholtz


"With the U.S. economy under the weather the government prescribed the usual medicine: big tax cuts in 2001, lots of deficit spending, increased money supply, military spending for two years, and significant interest rate cuts. This tried-and- true treatment is usually effective in jump-starting economic growth. Some theorists argue that left alone, any economy subjected to a run of the mill recession would eventually self-correct anyway… "~ Barry Ritholtz


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Barry Ritholtz Quotes About Economics

"Money is often described as “cheap” or “expensive,” depending on how costly it is to borrow." ~ Barry Ritholtz


"The first rule of economics is that there is no free lunch, and the massive ultralow rate stimulus came at a price: Cheap money led to inflation, fueled American’s worst consumption habits, and added a ton of consumers’ total debt." ~ Barry Ritholtz


"Battles are won with tactics, but in war victory is achieved via strategy." ~ Barry Ritholtz, "Bailout Nation"


"Perfectly rational humans and perfectly efficient markets exist only in economics textbooks. In reality, this belief system us sheer, unaltered nonsense. Compensation systems can get out of alignment with shareholder interests. Short-term profits often trump longer-term sustainability. Complexity is often ignored; risk is poorly understood." ~ Barry Ritholtz


"What the deregulatory zealots have failed to understand is that we don’t regulate markets; what we do is regulate the behaviors of the human beings who work in those markets. And humans need to know what is acceptable and allowable behavior. Without rules and guidelines, people misbehave – and even more so when large sums of money are involved." ~ Barry Ritholtz


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