Ben Bernanke Quotes
History has demonstrated time and again the inherent resilience and recuperative powers of the American economy.
Bernanke, Ben S. "The Economic Outlook." Joint Economic Committee, U.S. Congress, 27 Apr. 2006.
Actually the statement is not literally true though the exceptions are not numerous. People who sold their American common stocks before the 1929 stock market made money. The few people who bet against the U. S. Housing and Mortgage markets before the Meltdown of 2008, made a great deal of money. Over extended long periods, Biden’s statement is true.
We emerged from the depression and went on to grow stronger than ever. However, we did not learn how to prevent future depressions and recessions.
Ben Shalom Bernanke is an American economist at the Brookings Institution who served two terms as the 14th Chair of the Federal Reserve, from 2006 to 2014. During his tenure as chair, Bernanke oversaw the Federal Reserve's response to the late-2000s financial crisis, for which he was named the 2009 Time Person of the Year. Before becoming Federal Reserve chair, Bernanke was a tenured professor at Princeton University and chaired the department of economics there from 1996 to September 2002, when he went on public service leave.