David Autor Quotes

Remember, 2000 was the year of the dot-com bust. The telecom industry lost about $2 trillion in market capital at that time.

Normally, the market peaks before bad news emerges. That's what happened in 1929, and that's what happened in 2000.

After 1929, so many people had been traumatized by the stock market crash that there was a lost generation.

Alas, in 1929 came the Stock Market crash and everything changed and became worrisome. People started practicing conservatism because of financial losses, myself included.

The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies and consumers very unsure about future income, and so led them to stop spending as they waited for more information.

For those of us in the financial world, Black Friday has a strong negative connotation, referring to a stock market catastrophe.

In 2008, when the real estate market blew up, it principally hurt older people who saw the value of their houses go down, along with their pension plans.

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

When my book 'Rich Dad's Prophecy' was released in 2002, most financial newspapers and magazines trashed it because I discussed a looming stock market crash.

I experienced the year 2000 dot com crash and the 2008 financial crisis, and it almost wiped out the company.

Throughout the Great Recession of 2008, the average 401(k) balance lost anywhere from 25 to 40 percent of value. Nobody was more harmed than baby boomers or recent retirees, who, unlike younger workers, didn't have the time for the market to rebound or were no longer contributing and therefore unable to invest when stocks were cheap.

A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.

September and October of 2008 was the worst financial crisis in global history, including the Great Depression.

Men have been swindled by other men on many occasions. The autumn of 1929 was, perhaps, the first occasion when men succeeded on a large scale in swindling themselves.

The Mexican debt crisis, Latin American debt crisis, the crises of the 1990s, the Wall Street stock market crash, and other events should have reminded us, and did remind us, that financial instability remains a concern, remains a problem.

By March '87 we're down to seven thousand, by the end of the year we're down to twelve hundred. The whole bottom just fell out of the market. It was bad for me because I was in Australia at the time.

We certainly had an upheaval at the start of the Great Depression, and that resulted in a lot of financial reform, but it wasn't done in one stroke, and it wasn't done immediately. The Depression was in 1929 and resulted in the Securities and Exchange Act of '33, '34, '35, '37, '39, and '41.

I heard that you did not have a judge to interview this month in the Bulletin, so I thought I'd help out. Besides, with the Stock Market tanking recently, it reminded me of the good old days.

If you had asked people in 1929, 'Here is what is about to happen. How much would you pay to avoid the Great Depression from occurring?' The answer is they would have paid a lot. They would have borrowed money if it could be used to prevent the Great Depression.

I was lucky enough to see with my own eyes the recent stock-market crash, where they lost several million dollars, a rabble of dead money that went sliding off into the sea.

Wall Street excesses helped lead to the Great Recession.

I don't think objectively we are in a tech bubble when tech stocks are at a 30 year low.

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.'

We say, 'The market plummets,' like it's some roaring creature.

Within a few months in 2008, household finances were crushed as asset values fell, millions of jobs were lost, countless credit cards were canceled, and thousands of homes were foreclosed on.