40 Quotes by Mohamed El-Erian

Today's reports confirm that, unfortunately, post-crisis America is still not back to its good economic self.

As we spend more, and as companies are pushed to invest, they say, "Hey wait a minute! There's more demand in the system. Let's invest more."

The one instrument that has relative political autonomy is monetary policy. Central banks do not need to go to Congress to get approval for an interest rate hike.

We normally think if you're going to lend someone money, you should get some reward for doing this. In Europe, it's a tax!

The world changes! So we’re in a situation today where the only policymakers that have flexibility are central banks. But they don’t have the instruments! So they’ve had to experiment, and the more you experiment, the more uncertainty and the higher the risk of collateral damage.

How long can interest rates stay negative? Think about this. Not only are you lending your money to governments, but you’re paying them interest for the privilege of doing so.

As we spend more, and as companies are pushed to invest, they say, “Hey wait a minute! There’s more demand in the system. Let’s invest more.”

I remember when I was growing up, you would go to a bank to open a deposit, and they’d give you a toaster. A free toaster. These days, if you’re a company, and you go to a bank, they could easily turn you away! They don’t want your deposits anymore.

America’s downgrade may serve as a wakeup call for its policymakers. It is an unambiguous and loud signal of the country’s eroding economic strength and global standing. It renders urgent the need to regain the initiative through better economic policymaking and more coherent governance.