Joseph Stiglitz Quotes

The last six months of the Bush administration lost four million jobs and the first six months of the Obama administration lost another four million before any initiatives of the president could take action.

Every month that we do not have an economic recovery package 500 million Americans lose their jobs.

Though the National Bureau of Economic Research deemed the recession to have ended in June 2009, to most Americans, that conclusion seems not to square with reality.

I'm astonished at how quickly the Great Recession came and went.

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

The simple fact of the matter is, as I know everyone in this room knows, that the recession that this country faced when this President took office was the worst since the Great Depression.

No I don't think it was a myth at all, anymore than what the recession that the whole country was experiencing was a myth, which obviously seems like it's going to get worse and worse.

Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0 percent balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy.

Europe is a strong market for the U.S. If it has problems, if there's a lack of consumer confidence, if there's a deeper recession, this will deeply affect jobs in the U.S.

You know, my Grandpop Finnegan used to have an expression: he used to say, 'Joey, the guy in Olyphant's out of work, it's an economic slowdown. When your brother-in-law's out of work, it's a recession. When you're out of work, it's a depression.'

Like many places across the country, Wisconsin lost more than 100,000 jobs from 2008 to 2010. Unemployment during that time topped out at over 9%.

Folks in the bottom half of the economy are already squeezed hard. They will be bloodied and bankrupt if economic policy inadvertently induces a recession.

The United States is much further along because its financial crisis struck three years before Europe's, in 2008, causing headwinds that have pressured it ever since.

So more than 8 million people lost their jobs. It's going to take a significant push on our part and time before that comes down. I don't anticipate it coming down rapidly.

We are having the single worst recovery the U.S. has had since the Great Depression. I don't care how you measure it. The East Coast knows it. The West Coast knows it. North, South, old, young, everyone knows it's the worst recovery since the Great Depression.

President Barack Obama has stood watch over the greatest job loss in modern American history. And that, my friends, is one inconvenient truth that will haunt this President throughout history.

Nearly 300,000 more people are forced to accept part-time employment because of this rotten non-recovery recovery than when Obama arrived at 1600 Pennsylvania Avenue.

The unemployment rate has effectively not gone down from where it was at the peak of the recession. The only reason it's gone technically from 10 percent to 8 percent is so many people are discouraged and have quit work.

We do not want financial convulsions.

The upward economic movement in America has undoubtedly reached its end – the crisis has come.

The Depression has caused an emergency more serious than war.

There is one iron law of history. When a country’s economy starts to decline, if it continues to decline, it will lose its greatness.

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.

Who in the world wants to run a country where the new norm is one where there are no jobs?

The economy has barely recovered from the so-called 'Great Recession', with a 2 percent annual rate of growth since mid-2009. Peak worker wages, business investment, and productivity all occurred around the year 2000.