Great Depression Quotes - Page 7

• First and foremost, it's important to remember that, from my perspective at least, my most important legacy was making sure that the world didn't go into a Great Depression.

  Barack Obama

  Perspective, Important, Legacy

  Source: www.spiegel.de

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• In the US after the Great Depression, they invested heavily in infrastructure to create a lot of employment. In Germany after the war there was the Marshall plan for roads, rail, housing, energy, water and so on. That created massive employment after the devastation of the war and helped them to rebuild the country.

  Raila Odinga

  Country, War, Water

  Source: concernedkenyan.blogspot.com

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• 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.

  George W. Bush

  President, Want, Greater

  "Obama Chooses Mary Schapiro to Head SEC; Blagojevich Fights Back; Season of Thieving; Wild Weather Whipping Through". "CNN Newsroom", edition.cnn.com. December 18, 2008.

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• The crisis [the Great Depression] discovered a great man in Franklin Roosevelt...None too soon he has carried America forward to the second stage of democratic realization. His New Deal involves such collective controls of the national business that it would be absurd to call it anything but socialism, were it not for a prejudice lingering on from the old individualist days against that word...Both Roosevelt and Stalin were attempting to produce a huge, modern, scientifically organized, socialist state, the one out of a warning crisis and the other out of a chaos.

  H. G. Wells

  Men, America, Prejudice

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• 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.

  Alexi Giannoulias

  Jobs, Recovery, Mean

  "Meet the Press" with David Gregory, www.nbcnews.com. October 10, 2010.

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• In the Great Depression, employment was not low because investment was low. Employment and investment were low because labor market institutions and industrial policies changed in a way that lowered normal employment.

  Edward C. Prescott

  Employment, Way, Normal

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• From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.

  Ron Paul

  Country, Money, Past

  "End the Fed". Speech to the US House of Representatives, www.lewrockwell.com. February 05, 2009.

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• After the Great Depression and after public urging, a nationwide public competition was held to determine a design for a memorial that would honor President Thomas Jefferson's bold vision for westward expansion for America.

  Russ Carnahan

  America, Design, Memorial

  Russ Carnahan's remarks at the United States House of Representatives (October 28, 2005), as quoted in "Congressional Record, Volume 151 - Part 18: October 27, 2005 to November 7, 2005 (Pages 23969 to 25296)" by Government Printing Office (p. 24193), 2010.

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• In his first term, President Barack Obama played a cautious manager navigating the worst economic disaster since the Great Depression and cleaning up the messes left by President George W. Bush in Iraq and Afghanistan.

  Kevin O'Leary

  Iraq, President, Firsts

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• Ever since the Great Depression, economists have known that demand shortages tend to persist in the wake of severe financial crises like the ones that happened in 1929 and 2008.

  Bob Frank

  Demand, Financial, Crisis

  Source: www.pbs.org

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• There may be a recession in stock prices, but not anything in the nature of a crash.

  Irving Fisher

  Depression, May, Crash

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• Americans who have parents raised during the Great Depression or World War II understand how drastically things have changed on the home front. My father did not care a whit whether I liked him, and it would have been unthinkable for him to pick up my stuff. There were rules in the house, and they were enforced.

  Bill O'Reilly

  Father, War, Home

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• My parents were children during the Great Depression of the 1930s, and it scarred them. Especially my father, who saw destitution in his Brooklyn, New York neighborhood; adults standing in so called 'bread lines,' children begging in the streets.

  Bill O'Reilly

  New York, Children, Father

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• First, climate change is the greatest long-term threat faced by humanity. It could cause more human and financial suffering than the two world wars and the great depression put together. All countries will be affected, but the poorest countries will be hit hardest. Secondly, the costs of inaction far outweigh the costs of action.

  David Miliband

  Country, War, Two Worlds

  David Miliband on Climate Change during House of Commons Debates, www.publications.parliament.uk. October 30, 2006.

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• The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one third from 1929 to 1933.

  Milton Friedman

  Currency, Federal Reserve, Circulation

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• I admire President Obama. He inherited the worst financial crisis since the Great Depression. That was a terrible time for America.

  Hillary Clinton

  America, President, Financial

  "Transcript of the Second Debate". www.nytimes.com. October 10, 2016.

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• How did the party that elected the first black U.S. senator, the party that elected the first 20 African-American congressmen, how did that party become a party that now loses 95 percent of the black vote?

  Rand Paul

  Party, Rights, Race

  "Sen. Rand Paul Tries To Repair GOP's Image With Minorities". "Morning Edition" with David Greene, www.npr.org. April 11, 2013.

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• The continuing shortages of housing inventory are driving the price gains. There is no evidence of bubbles popping.

  David Lereah

  Inventory, Gains, Driving

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• History of America, Part I (1776-1966): Declaration of Independence, Constitutional Convention, Louisiana Purchase, Civil War, Reconstruction, World War I, Great Depression, New Deal, World War II, TV, Cold war, civil-rights movement, Vietnam. History of America, Part II (1967-present): the Super Bowl era. The Super Bowl has become Main Street’s Mardi Gras.

  Norman Chad

  War, America, Rights

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• Indeed, the FHA was born out of the Great Depression, which was also caused in significant part by a foreclosure crisis. Mortgages in the early 1930s were mostly three- to five-year 'bullet' loans, which did not amortize and were due in full at maturity.

  Mark Zandi

  Maturity, Years, Three

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• These long-run worries, there's an element of truth to them, but I think frankly the fears are exaggerated.

  James K. Glassman

  Running, Thinking, Long

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• ...housing activity will remain healthy for some time to come.

  David Lereah

  Healthy, Economic, Housing

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• I don't worry about new home sales

  James K. Glassman

  Home, Worry, Economic

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• Our sense of the free market is variable, shifting from a more welfare-oriented model after the Great Depression to a capital-driven market after the collapse of socialism as a viable alternative.

  Richard A. Falk

  Alternatives, Variables, Shifting

  Source: www.counterpunch.org

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• The stock market crashed in October 1929. But that was not the cause of what caused the Great Depression. It was, in my opinion, a very minor element of it. What happened was that from 1929 to 1933 you had a major contraction which, in my opinion, was caused primarily by the failure of the Federal Reserve System, to follow the course of action for which it was set up. It was set up to prevent exactly what happened from 1929 to 1933. But instead of preventing it, they facilitated it.

  Milton Friedman

  Elements, October, Causes

  Source: www.pbs.org

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