Noland:

"...the re-emergence of the corporate debt Bubble is a powerful force...

...The corporate debt boom's relatively diffuse and inconspicuous nature has allowed it to gather... steam without spooking either the Fed or the markets."

Regarding th 1928/29 stock market Noland opines that:

"...gross Credit and speculative excesses... had radically inflated profits, while creating acute vulnerabilities to any change to monetary conditions/financial flows."

Paul Ormerod: "In general, people gather limited information, reason poorly and act intuitively rather than rationally." [Financial Times, 6 November 2006, "Shun the rational agent to rebuild economics"] [Ormerod also mentions Daniel Kahneman andVernon Smith and their work in 'experimental economics']

Farhan Bokhari: "For most Islamic countries, economic and trade relations are primarily built upon self-interest rather than ideology" [Financial Times Fund Management, 6 November 2006, "Good business can bridge the divisions"]

Shostak:

"...unbacked credit...leads to the reshuffling of real funding from wealth generators to non-wealth generators. This in turn weakens the ability to grow the pool of real funding and weakens the economic growth."

"By putting the blame on debt as the cause of economic recessions, one absolves the Fed from any responsibility in actually setting the whole thing in motion."

"...rather than countering depression, what monetary pumping [in response to perceived economic troubles] in fact does here is to further weaken the pool of real funding and thereby deepen the economic crisis."

"...the present debt level might have good support if the pool of real funding is still growing."

"As a result of the misallocation of real funding, on account of easy interest rate policy, the pace of consumption of final consumer goods and services has most likely increased, while the pace of the production of final consumer goods and services has likely weakened."

"In return for... dollars, foreigners are still happy to supply a chunk of their real wealth to the United States, thereby enabling the US economy to push ahead."

Kaletsky:

"Much of the talk about shareholder value, corporate governance and profitability that used to be so fashionable in Tokyo a year or two ago seems to have been replaced by the old mantra about expanding sales and the battle for market share, regardless of profits or costs."