Heather Cox Richardson Quotes

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

If you look at what happened, I came in the middle of the worst financial crisis since the Great Depression. And unlike Franklin Delano Roosevelt who waited, well, didn't take office until about three years into the Great Depression, it was happening just as I was elected.

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.

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

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.

Even if consumer confidence hit rock bottom, that most likely would not be enough, by itself, to cause a depression.

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

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.

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.

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.

The stress on the financial system in the fall of 2007 was significant, but not so significant as to threaten the overall stability of the U.S. economy, although it did lead to the beginning of a recession at the end of 2007.

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.

But if, if you take a look at what would have happened, I mean, do we need to see soup lines down the street to figure out what would have happened? We avoided - and all economists will tell you that millions of jobs were saved because of the Recovery Act, and we avoided a second Great Depression. That, that is a reality.

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.

There's no recovery on Main Street, I can tell you that for sure. And in a re - in an economy like this, we don't need to be raising anybody's taxes.

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.

2008 was to the American economy what 9/11 was to national security. Yet while 9/11 prompted the U.S. government to tear up half the Constitution in the name of public safety, after 2008, authorities went in the other direction.

You cannot spend your way out of recession or borrow your way out of debt.

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

When we get the private sector going through job creation and growth, then the governments at all level have revenues to do the things that they need to do. And that's why it's so important to get this economy moving, to get jobs created. We can't keep going on with this anemic recovery.

This recession is the deepest in our lifetimes, the deepest since 1929. If you take the people thrown out of work in the 1982 recession, the 1991 recession, the 2001 recession, not only is this bigger, this is bigger than all of those combined.

The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.

Well, I think the best form would be to put money directly in the pockets of consumers.

We're still in a recession. We're not gonna be out of it for a while, but we will get out.

Nationalization, unmentionable only yesterday, has entered common usage not least because an even scarier word - depression - is next on America's list to avoid.