John Kenneth Galbraith Quotes

When the stock market crashed, Franklin Roosevelt got on the television and didn't just talk about the princes of greed. He said, 'Look, here's what happened.'

It was not hard to persuade people that the market was sound; as always in such times they asked only that the dispiriting voices of doubt be muted and that there should be tolerably frequent expressions of confidence.

At the end of 2000, most investors were optimistic that a return to quick gains could not be far off.

After the 1929 crash, the Federal Reserve mistakenly focused its policies on preserving the gold value of the dollar rather than on stabilizing the domestic economy.

Franklin D. Roosevelt was fortunate: He didn't take office until nearly four years after the Wall Street crash, by which time the Republicans' responsibility for the Depression was taken for granted.

I was born January 6, 1937, eight years after Wall Street crashed and two years before John Steinbeck published The Grapes of Wrath, his Pulitzer Prize-winning novel about the plight of a family during the Great Depression.

The stock market can be down, but the stock market is not an indication of where people's spirits and enthusiam are, and where their intellectual energy is.

Before the stock market crash of 1929 approximately half of all the stock sold in America was fraudulent. President Coolidge did not believe in the Federal Government interfering with business and would not interfere. His Secretary of Commerce, Herbert Hoover however was worried about the extreme corruption of the system. By the time he succeeded Coolidge as President, it was too late.

Herbert Hoover failed through no fault of his own. The Crash of 1929 and the Great Depression were beyond his control, and every remedy he tried failed adequately to work.

It may be that the U.S. stock market starts to rise if people think it's gone far enough.

I mean, you can explain the fact that these are depressed prices, you know. We think these assets are going to be worth a lot more. And I think that case can be made in certain situations. But I think to just say, you know, we're going to say a dollar of cash is worth $2 all of a sudden, it isn't worth $2. It's worth a dollar today.

I think for the great majority of the American people, they've suffered economically under Obama and they really are looking forward to Trump delivering more money in their pocket. I think they haven't lost faith yet.

Something is missing from Main Street: Trust in Wall Street

I have 13 bankers in my office, and they say that if you go forward with this you will cause the worst financial crisis since World War II.

The Panic of 1893 was a dismal time of radiating destruction …. It was good for the bears …. the wild joy of men who shorted stocks and rejoiced in the ruin…

I was 5 years old when the stock market crashed; I lost everything.

When the 1929 crash wiped out disposable income, there were not enough consumers to fuel a recovery.

I've lived through the Great Depression.

I've always been interested in the Depression as this very dramatic pivotal period in American history.

As far as I can find, almost no one in the profession - not even luminaries like John Maynard Keynes, Friedrich Hayek, or Irving Fisher - made public statements anticipating the Great Depression.

Out of the ashes of the Great War came the freewheeling cultural renaissance that was the Jazz Age, but the decade-long party of flapper dresses and bootlegging came to a crashing halt with the Crash of '29 - triggering the Great Depression and the New Deal that would help America get back on its feet, just in time for another, greater war.

The post-crisis perception, at least in the media, appears to be one of Americans being held down by Wall Street, by big companies in the private sector, and by the wealthy. Capitalism is on trial. I see it a little differently. If a lender offers me free money, I do not have to take it.

Wall Street, in the main, hates uncertainty, which manifests itself in depressed share prices of companies whose prospects lack 'visibility.' But where the market can err is in confusing uncertainty with risk.

They were the darkest of times, the years following the crash of the stock market in 1929. Thousands of people across the United States were cast out of their Jobs, off their farms, out of their homes and apartments, and into the crushing depths of poverty.

In the Great Depression, employment and investment were low because labor market institutions and industrial polices changed.