Gordon B. Hinckley Quotes

It's a recession when your neighbor loses his job; it's a depression when you lose yours.

There is a big problem. The problem is the country borrowed too much. We went on a borrowing binge, there was a housing boom. You want to help people de-leverage and deal with those debts over time.

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

With real wages still falling for many, people are increasingly being forced to use their credit cards, their dwindling savings, or take out payday or doorstep loans if they need to buy anything beyond the most everyday of items.

The disease of debt has reached the top. And once it reaches the top it has no-where else to go.

The American people know that our economy is struggling right now, partly because of the debt that is impacting American families, hardworking taxpayers all across this country.

Wall Street is in trouble because Main Street is broke.

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

Medical debts are the number-one cause of bankruptcy in America.

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.

At many points during our nation's history, there have been times - known in our history textbooks as 'panics' - when adverse conditions affecting the financial and economic sectors of the country have caused individuals to hoard more than they need.

The evergreen story of people in debt becomes even sexier in an economic downturn, when debts inevitably get harder to pay.

I worry about another leg down in the economies causing social disruption because deleveragings can be very painful - it depends on how they're managed.

America had been a boom-and-bust economy going into the Great Depression - just over and over and over, fortunes were wiped out, ordinary families were crushed under it.

In bad times, the rich usually get richer.

When our economy is not growing, those least able to look after themselves are the first thrown overboard ...

A recession is a period in which you tighten your belt. In a depression, you have no belt to tighten. In a panic you have no pants left to hold up.

Ireland, once an impoverished backwater from which generations fled, conjured an economic miracle…. After 2007, the party ended in a morass of insolvent banks, bad mortgages, and unpaid public debt, ultimately sending the proudly independent country begging to the International Monetary Fund.

A recession forces excruciatingly difficult choices.

Below-target inflation increases the real value of debts owed by households and businesses and reduces the ability of central banks to respond to downturns.

Depression is the aftermath of credit expansion.

I just want to note that 43 million young people in debt is enough to win a three-way Presidential race.

So I analyzed that and decided I didn't want to be the president during a depression greater than the Great Depression, or the beginning of a depression greater than the Great Depression.

With the recession, people are having to choose between their cable and their internet connection. And think about it.

The economic times we are facing... are arguably the worst they've been in 60 years. And I think it's going to be more profound and long-lasting than people thought.