Economic Recession Quotes

Liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate. It will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up the wrecks from less competent people.

From now on, depressions will be scientifically created.

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

The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed.

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.

By 1939, the Depression was back. Unemployment was huge. Roosevelt didn't have any quick fix. Remember, the New Deal, Works Progress Administration, and Civilian Conservation Corps - all that happened years before. Roosevelt was riding a storm.

The bankers of the country are more to blame than are any other group for the present depression.

The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.

Drying up of capital has different consequences in different environments.

The caricature of what George Osborne is doing on the fiscal side is absurd. If you read some of the commentary, particularly from the left, you would think he was turning the clock back to the 1930s.

We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists, and in so far as it ever did exist, it only worked on each occasion since the war by injecting a bigger dose of inflation into the economy, followed by a higher level of unemployment as the next step.

A recession is when your neighbor loses his job. A depression is when you lose yours.

When depression economics prevails, the usual rules of economic policy no longer apply: virtue becomes vice, caution is risky and prudence is folly.

When the economy shows signs of faltering, prompt countermoves are required. Even mild measures on the part of government can be effective in the early stages of an economic decline. ... If action is withheld until a recession has gained momentum, strong and costly measures may prove insufficient.

With the shrinking of the US economy, and it's shrinking very rapidly, you not only have more money, but you also have fewer goods. That's a classic double-whammy on inflation.

Of course most Americans don't know how A.I.G. brought the world's financial system to near-ruin or what credit-default swaps are. They may not even know what A.I.G. stands for. But Americans do make the connection between their fears about their own jobs and their broad understanding of the A.I.G. debacle.

Investing in auto companies and ensuring a financial collapse didn't lead not from a recession to a great depression may not have been the most popular thing to do, but it was the right thing to do.

The worst problems of the 20th Century occurred when the United States looked inward.

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

The attacks on the World Trade Center and the current economic recession, which is particularly powerful in New York City, have put a number of building plans on hold for the time being.

General Phil Sheridan... had urged the destruction of the bison herds, correctly predicting that when they disappeared the Indians would disappear along with them; by 1885 the bison were virtually extinct, and the Indians were starving to death on the plains. ...the Indian Wars finally ended; and with the enforced peace came an economic recession in the West, for the United States government had spent there about one million dollars for every Indian killed by 1870.

Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.

Shaking the confidence in the American economy. This will lead investors to refrain from investing in America or participating in American companies, thus accelerating the fall of the American economy.

NASCAR is not immune to the down economy.

We need to hold Wall Street accountable for issuing the kinds of deceptive loans that nearly brought our economy to its knees in 2008.