Herbert Hoover Quotes

How much would you pay to avoid a second Depression?

A recession is when a neighbor loses his job. A depression is when you lose yours. And recovery is when Jimmy Carter loses his.

Global stocks bottomed in June 1921, but global economies didn't hit bottom for fully two more years.

If the Chinese bubble bursts one day, which inevitably will happen - maybe not tomorrow, maybe in three months, maybe in three years - when it happens, it will have devastating consequences for the global economy.

Long periods of recession, which tend to be self-perpetuating, are usually ended by war, or by preparations for it.

The downturn following the collapse of Japan's so-called bubble economy of the 1980s was not as severe as the Great Depression.

It took capitalism half a century to come back from the Great Depression.

I don't think it's the end of the world even if we have a recession. We'll pull back out of it again. No big deal.

Gentleman, you have come sixty days too late. The depression is over.

I think that this is the most significant financial crisis in the post-War period for the United States, and it has in fact a global reach.... I think it is extraordinarily important to understand that, as we have seen in many previous examples of different countries and different times, choking up of credit is like taking the lifeblood away from the economy.

I believe Europe is burning financially. Europe's problems are not going to go away. They are so structural. Yet, our problems are right behind them. We cannot just look at Europe.

A United States collapse would be much different than a Greece collapse. Greece can collapse, and there's a ripple. We collapse, and the world feels it.

We have the worst revival of an economy since the Great Depression. And believe me: We're in a bubble right now.

The recession is over." This phrase has been used twice a year since 1973 by government leaders throughout the West. Its meaning is unclear. See: Depression.

I guess the best way to describe that would be to connect with the fact that I came out of college just before the big Depression, and I came to New York.

Unless you are political or intellectual, events like the Depression are seen as personal events. We thought of the Depression as something that made the pipes freeze; we thought it hit us because Daddy didn't move his taxi stand and because he broke his hip. It was only later I found out it was a national phenomenon.

The Depression, which started in 1929 was rather mild from 1929 to 1930. And, indeed, in my opinion would have been over in 1931 at the latest had it not been that the Federal Reserve followed a policy which led to bank failures, widespread bank failures, and led to a reduction in the quantity of money.

I don't think that any economist disputes that we're in the worst economic crisis since the great depression. The good news is that we're getting a consensus around what needs to be done.

After the economic 9/11, we will face a new world order.

The world economy is in a nosedive, and understanding what I call "depression economics" - the weird world you get into when even a zero interest rate isn't low enough, and a messed-up financial system is dragging down the real economy - is essential if we're going to avoid the worst.

Wall Street got drunk and now it's got a hangover. And the question is, how long will it sober up and not try to do those fancy financial instruments?

I just want to say that the only thing less popular than putting money into banks is putting money into the auto industry.

We are taking a greater chance of having another crash at a time when the world is less capable of bearing the cost.

Everybody is in trouble, including the up-and-coming economic miracles of China, Brazil or India.

Although the financial crisis, you know, receded a while ago, we kind of never picked up on it.