Economic Crisis Quotes

All of you, I am sure, have heard many cries about Government interference with business and about "creeping socialism." I should like to remind the gentlemen who make these complaints that if events had been allowed to continue as they were going prior to March 4, 1933, most of them would have no businesses left for the Government or for anyone else to interfere with — and almost surely we would have socialism in this country, real socialism.

Even if the government spends itself into bankruptcy and the economy still does not recover, Keynesians can always say that it would have worked if only the government had spent more.

From now on, depressions will be scientifically created.

I see in the near future a crisis approaching. It unnerves me and causes me to tremble for the safety of my country... the Money Power of the country will endeavor to prolong its reign by working upon the prejudices of the people, until the wealth is aggregated in a few hands and the Republic is destroyed. I feel at this moment more anxiety for the safety of my country than ever before, even in the midst of war

It was clear soon after his election that Obama, like FDR, wanted to start dealing with the economic crisis immediately after his inauguration.

Politics thrives on simple, clean messages, something that played to Obama's advantage in 2008. Stagnant unemployment and the loss of America's AAA rating are as simple and tough as they come. This is the economy on Obama's watch, and there's no one left to blame.

I look back to the Great Depression, and what Roosevelt was able to do in very difficult times, to get Social Security through back in the time when it was seen as - well, it wasn't what it is today. It was sort of a last-ditch, if you really need it, you got it, but, today, it's much more a part of your retirement program.

I never felt the Great Depression firsthand. I learned about it at Harvard.

What matters to me is that I do what I think is right and I see, I'm a numbers guy, that's my attitude. I know we have a debt tsunami coming, we are bankrupting this country and I'm in a position where I can actually advance ideas to prevent that from happening. That's exactly what I should be doing.

The Almighty indeed sent the potato blight, but the English created the famine.

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.

How long will it take the citizens of the United States, one wonders, to recognize that the house their country bombed in Iraq is the same one they were living in until it was foreclosed?

When markets fail, as they often do, collective action becomes imperative.

This country is facing an economy that has been radically transformed.And these changes have been disruptive. They have changed people's lives. The jobs that once sustained our middle class, they either don't pay enough or they are gone, and we need someone that understands that as our nominee.

Family responsibility, yes, and always. Family bankruptcy due to the cruel rules of government, no.

Look at the Weimar Republic and their hyperinflation in the early '20s. It didn't happen overnight. I've used the analogy, it's a lot like soybeans: you plant 'em, you wait. Conditions take some time. You need some sun; you need some water, but ultimately things start to grow, and are we in that phase or not?

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.

Russia has nothing: no successful politics or economy.

Fortunately there is more wealth in the world than there was at the time of the global economic crisis of 1929 - Chinese, Indian, Arab and Russian.

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

Starting in the wake of the 2008 GFC (Global Financial Crisis), market observers have warned of a crash in the bond market. Initially, it was believed that the trillions printed to bail out the banks would cause inflation and, therefore, a flight from bonds.

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.

My father had a couple of kids at the beginning of the Depression. There was not much employment. Not much welfare. People barely got by. People were tougher then.

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

I have been reorganizing and restructuring AOL: changing the strategy and rebuilding it from scratch in the worst economy in a generation.