The Great Depression Quotes

Failing to curb the impact of climate change could damage the global economy on the scale of the Great Depression or the world wars by spawning environmental devastation that could cost 5 to 20 percent of the world's annual gross domestic product. ~ Nicholas Stern

It is ironic that Keynesianism originated as a weapon to combat depression, but became universally accepted and "successful" only during (and because of!) the postwar expansion. At the first sign of renewed world recession, Keynesian theory has proved itself to be a snare and a delusion that has gone into immediate bankruptcy. The resulting "post-Keynesian synthesis" is also the theoretical reason for the reactionary exhumation of the simplistic, neoclassical, and monetarist economic theory of the 1920s. This revival of old theory is highlighted by the award of Nobel prizes in economics to Friedrich von Hayek, whose theoretical work was done before the Great Depression, and Milton Friedman, whose lone voice echoed in the wilderness until the new world economic crisis put his unpopular and antipopulist theories on the agenda of business board rooms and government cabinet rooms in one capitalist country after another. The real reason for the recent interest in fifty-year-old theories is that capital now wants them to legitimize its attack on the welfare state and "unproductive" expenditures on social services, which capital claims to need for "productive" investment in industry, including armaments. ~ Andre Gunder Frank

In the large sense the primary cause of the Great Depression was the war of 1914-1918. Without the war there would have been no depression of such dimensions. There might have been a normal cyclical recession; but, with the usual timing, even that readjustment probably would not have taken place at that particular period, nor would it have been a Great Depression. ~ Herbert Hoover

In the 1960's, some old-timers on Wall Street-the men who remembered the trauma of the 1929 Crash and the Great Depression-gave me a warning: "When we fade from this business, something will be lost. That is the memory of 1929." Because of that personal recollection, they said, they acted with more caution, than they otherwise might. Collectively, their generation provided an in-built brake on the wildest form of speculation, an insurance policy against financial excess and consequent catastrophe. Their memories provided a practical form of long-term dependence in the financial markets. Is it any wonder that in 1987 when most of those men were gone and their wisdom forgotten, the market encountered its first crash in nearly sixty years? Or that, two decades later, we would see the biggest bull market, and the worst bear market, in generations? Yet standard financial theory holds that, in modeling markets, all that matters is today's news and the expectations of tomorrow's news. ~ Benoit B Mandelbrot

I think what happened during the Great Depression was that African Americans understood that Republicans championed citizenship and voting rights but they became impatient for economic emancipation. ~ Rand Paul

I was born January 6, 1937, eight years after Wall Street crashed and two years before John Steinbeck published The Grapes of Wrath, his Pulitzer Prize-winning novel about the plight of a family during the Great Depression. ~ Lou Holtz

There was something superficial in attributing anything so awful as the Great Depression to anything so insubstantial as speculation in common stocks. ~ John Kenneth Galbraith

Nonetheless, that order has now been destabilized, which means that the rest of us are going to have to quickly figure out how to turn "managed degrowth" into something that looks a lot less like the Great Depression and a lot more like what some innovative economic thinkers have taken to calling "The Great Transition."56 ~ Naomi Klein

Men and women whose early youth was shaped in the ordeal of the Great Depression showed the values formed in that crucible when tyranny threatened a world. ~ Steve Buyer

Came of age in the Great Depression, when economic despair hovered over ~ Tom Brokaw

The Great Depression was not a sign of the failure of monetary policy or a result of the failure of the market system as was widely interpreted. It was instead a consequence of a very serious government failure, in particular a failure in the monetary authorities to do what they'd initially been set up to do. ~ Milton Friedman

I sincerely envy anyone who grew up during the Great Depression sometimes. Can you imagine what it must have been like, living without fear that some power-mad politician would drop a hydrogen bomb down over millions of innocent people? ~ Rebecca McNutt

Phoebe Hurty hired me to write copy for ads about teen aged clothes. I had to wear the clothes I praised. That was part of the job. And I became friends with her two sons, who were my age. I was over at their house all the time.

She would talk bawdily to me and her sons, and our girlfriends when we brought them around. She was funny. She was liberating. She taught us to be impolite in conversation not only about sexual matters, but about American history and famous heroes, about the distribution of wealth, about school, about everything.

I now make my living being impolite. I am clumsy at it. I keep trying to imitate the impoliteness which was so graceful in Phoebe Hurty. I think now that grace was easier for her than it is for me because of the mood of the Great Depression. She believed what so many Americans believed then: that the nation would be happy and just and rational when prosperity came.

I never hear that word anymore: Prosperity. It used to be a synonym for Paradise. And Phoebe Hurty was able to believe that the impoliteness she recommended would give shape to an American paradise.

Now her sort of impoliteness is in fashion. But nobody believes anymore in a new American paradise. I sure miss Phoebe Hurty. ~ Kurt Vonnegut Jr.

We are having the single worst recovery the U.S. has had since the Great Depression. I don't care how you measure it. The East Coast knows it. The West Coast knows it. North, South, old, young, everyone knows it's the worst recovery since the Great Depression. ~ Arthur Laffer

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

At a time when going to college has never been more important, it's never been more expensive, and our nation's families haven't been in this kind of financial duress since the great depression. And so what we have is just sort of a miraculous opportunity simply by stopping the subsidy to banks when we already have the risk of loans. We can plow those savings into our students. And we can make college dramatically more affordable, tens of billions of dollars over the next decade. ~ Arne Duncan

My mother was addicted to being rich, to servants and unlimited charge accounts, to giving lavish dinner parties, to taking frequent first-class trips to Europe. So one might say she was tormented by withdrawal symptoms all through the Great Depression. She was acculturated! Acculturated persons are those who find that they are no longer treated as the sort of people they thought they were, because the outside world has changed. An economic misfortune or a new technology, or being conquered by another country or political faction, can do that to people quicker than you can say "Jack Robinson." As Trout wrote in his "An American Family Marooned on the Planet Pluto": "Nothing wrecks any kind of love more effectively than the discovery that your previously acceptable behavior has become ridiculous." He said in conversation at the 2001 clambake: "If I hadn't learned how to live without a culture and a society, acculturation would have broken my heart a thousand times." *** ~ Kurt Vonnegut Jr.

I once read that more millionaires per capita were created during the Great Depression than at any other time in history. ~ Harry S. Dent

What little reality television I've seen seems to be about economic desperation. Like the marathon dancing of the Great Depression, which should give us pause. People willing to eat flies and worms for a sum that is less than the weekly paycheck of the show's producer. I haven't seen "reality television" that is other than this kind of painful, sadistic exploitation of fit young people looking for agents. ~ Lorrie Moore

The minimum wage is something that F.D.R. put in place a long time ago during the Great Depression. I don't think it worked then. It didn't solve any problems then and it hasn't solved any problems in 50 years. ~ John Raese

The Great Depression in the United States was caused - I won't say caused, was enormously intensified and made far worse than it would have been by bad monetary policy. ~ Milton Friedman

Raised by an irresponsible mother during the Great Depression in the Jim Crow south, my father was on his own from the age of 13. ~ Larry Elder

Large numbers of under-capitalized banks were a recipe for financial instability, and panics were a regular feature of American economic life - most spectacularly in the Great Depression, when a major banking crisis was exacerbated rather than mitigated by a monetary authority that had been operational for little more than fifteen years. ~ Niall Ferguson

Between the Great Depression and the 1970s, private business was viewed with suspicion even in most capitalist economies.
Businesses were, so the story goes, seen as anti-social agents whose profit-seeking needed to be restrained for other, supposedly loftier, goals, such as justice, social harmony, protection of the weak and even national glory. ~ Ha-Joon Chang

During the Great Depression, when people laughed their worries disappeared. Audiences loved these funny men. I decided to become one. ~ Jerry Stiller

The Recovery Act, which helped saved the economy and prevented us going into the Great Depression, was the largest investment in green technology, the largest investment in education. We rebuilt roads and bridges. ~ Barack Obama

The 24% unemployment reached at the depths of the Great Depression was no picnic. ~ Barry Eichengreen

Wall Street has come a long way from the insider-dominated world that was blown apart by the Great Depression. ~ James Surowiecki

I had often thought about people who lived through strange and compelling times - World War II, the Great Depression, the civil rights movement. These were periods that shaped people in some indelible way. I wondered how this moment would define us. I had never before believed that there was anything special about the era I was growing up in. ~ Aditi Khorana

Your grandparents came of age in the Great Depression, when everyday life was about deprivation and sacrifice, when the economic conditions of the time were so grave and so unrelenting it would have been easy enough for the American dream to fade away. ~ Tom Brokaw

'Up in the Air' may be a glossy production sprinkled with laughter and sex, but it captures the distinctive topography of our Great Recession as vividly as a far more dour Hollywood product of 70 years ago, 'The Grapes of Wrath,' did the vastly different landscape of the Great Depression. ~ Frank Rich

My parents, products of the Great Depression, were successful people, but lived in a state of constant fear that my sister and I, and they, would sink into the kind of economic insecurity that their generation knew so well. ~ Ben Stein

Although the United States, with its unit banking laws, had thousands of bank failures, Canada, which permitted branch banking, didn't have a single failure during the Great Depression. ~ Jim Powell

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. ~ Ben Bernanke

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

Every generation must loose its innocence, must see the brightly painted nursery wall smashed away by the wrecking ball of betrayal to reveal a blighted landscape. For our predecessors, it was the Somme, the Great Depression, the Holocaust or Vietnam; for my generation, it was The Phantom Menace ~ David Mitchell

In 1928, the top 10 percent of earners captured 46 percent of national income. That was the highest share that the top tenth captured for nearly eighty years, until 2007, when we returned to the wealth distribution of the country on the eve of the Great Depression. The top 1 percent did even better. Between 1979 and 2007, nearly 88 percent of the entire economy's income gains went to the top 1 percent.49 One ~ Christopher L. Hayes

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

During the Great Depression, levels of crime actually dropped. During the 1920s, when life was free and easy, so was crime. During the 1930s, when the entire American economy fell into a government-owned alligator moat, crime was nearly non-existent. During the 1950s and 1960s, when the economy was excellent, crime rose again. ~ Ben Shapiro

Hank Paulson, the happy capitalist warrior who spent his life pursuing and defending free markets, is now the biggest interventionist Treasury secretary we've had since the Great Depression. ~ Charles Duhigg

In the middle of the Great Depression, George Jenkins, Jr. left his job at a grocery store and decided he would open up his own store. I am sure many people thought Mr. Jenkins was crazy, but he had a dream. Today, his chain of stores employs 127,000 Floridians and is the largest employee-owned company in the country. We know it as Publix. ~ Rick Scott

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

From a generation that came of age during the Great Depression, millions of our country's best and bravest took up arms in a worldwide struggle against tyranny. ~ Steve Buyer

Milwaukee used to be flush with good jobs. But throughout the second half of the twentieth century, bosses in search of cheap labor moved plants overseas or to Sunbelt communities, where unions were weaker or didn't exist. Between 1979 and 1983, Milwaukee's manufacturing sector lost more jobs than during the Great Depression - about 56,000 of them. The city where virtually everyone had a job in the postwar years saw its unemployment rate climb into the double digits. Those who found new work in the emerging service industry took a pay cut. As one historian observed, 'Machinists in the old Allis-Chalmers plant earned at least $11.60 an hour; clerks in the shopping center that replaced much of that plant in 1987 earned $5.23. ~ Matthew Desmond

It took capitalism half a century to come back from the Great Depression. ~ Ben Shapiro

Victimhood and a 'can't do' spirit is what the Democratic Party has mostly been about since the Great Depression. ~ Cal Thomas

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

The singer-songwriter has always played music that was stylistically rooted in the '30s and the Great Depression and the Dust Bowl. But the fact of the matter is that none of us remember the Depression firsthand. ~ Steve Earle

I was 21 and looking for work in 1932, one of the worst years of the Great Depression. And I can remember one bleak night in the thirties when my father learned on Christmas Eve that he'd lost his job. To be young in my generation was to feel that your future had been mortgaged out from under you, and that's a tragic mistake we must never allow our leaders to make again. ~ Ronald Reagan

Facts are facts: No president since Franklin Delano Roosevelt in the Great Depression inherited a worse economy, bigger job losses or deeper problems from his predecessor. But President Obama is moving America forward, not back. ~ Martin O'Malley

My professional apprenticeship at Iowa State College from 1930 to 1943 could not have been better; the Great Depression made it so, and the talented younger economists at Ames during that period made it an exciting and profitable intellectual experience. ~ Theodore Schultz

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. ~ Lloyd Blankfein

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. ~ Milton Friedman

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. ~ Chris Matthews

The simple fact of the matter is, as I know everyone in this room knows, that the recession that this country faced when this President took office was the worst since the Great Depression. ~ Jay Carney

The Everlasting Staircase"
Jeffrey McDaniel

When the call came, saying twenty-four hours to live,
my first thought was: can't she postpone her exit

from this planet for a week? I've got places to do,
people to be. Then grief hit between the ribs,

said disappear or reappear more fully. so I boarded
a red eyeball and shot across America,

hoping the nurses had enough quarters to keep
the jukebox of Grandma's heart playing. She grew up

poor in Appalachia. And while world war II
functioned like Prozac for the Great Depression,

she believed poverty was a double feature,
that the comfort of her adult years was merely

an intermission, that hunger would hobble back,
hurl its prosthetic leg through her window,

so she clipped, clipped, clipped -- became the Jacques
Cousteau of the bargain bin, her wetsuit

stuffed with coupons. And now --pupils fixed, chin
dangling like the boots of a hanged man --

I press my ear to her lampshade-thin chest
and listen to that little soldier march toward whatever

plateau, or simply exhaust his arsenal of beats.
I hate when people ask if she even knew I was there.

The point is I knew, holding the one-sided
conversation of her hand. Once I believed the heart

was like a bar of soap -- the more you use it,
the smaller it gets; care too much and it'll ~ Jeffrey McDaniel

It's like my grandpa always used to say, 'A butter knife would make a deadlier weapon than a melting stick of butter.'"


"Your grandpa never said that."


"No, but he should have. He was a damn fool not to have uttered those words."


"My grandpa was a janitor, in the Great Depression. The greatest thing he ever said was, 'Greg, I just Gregged all over your floor. Do you have a mop I can use to clean it up?'"


"Who's Greg?"


"I don't know."


"What the shit kind of story is that? That story is bullshit. Greg doesn't exist. Nobody knows nobody named Greg. It's a unicorn name - it's complete mythology."


"What about Lou Greg, the baseball player?"


"Lou who? Lou Gehrig?"


"Here's a Lou for you. Greg Louganis."


"Bah, Greg Louganis doesn't exist. He was a myth created by the Soviets to push their divers to perfection. The Russians realized they couldn't be the best until they deceived their divers into believing there was someone who was always better."


"I've seen Greg Louganis, and he's as real as you or me."


"You've seen what they wanted you to see. They gave you a blindfold to wear and convinced you it would improve your eyesight." ~ Jarod Kintz

In the great depression, things could only be set right by causing the idle plant to work again ... Roosevelt ... spent billions of public money and created a huge public debt, but by so doing he revived production and brought his country out of the depression. Businessmen, who in spite of such a sharp lesson continued to believe in old-fashioned economics, were infinitely shocked, and although Roosevelt saved them from ruin, they continued to curse him and to speak of him as 'the madman in the White House.' ... [It's one more] striking example of inability to learn from experience. ~ Bertrand Russell

I grew up in an era of pretty severe poverty. My parents weathered the Great Depression, and money was always a very big concern. I was weaned on a shortage mentality and placed in foster homes largely because there simply wasn't enough money to take care of the most basic of needs. ~ Wayne Dyer

Alan Greenspan assures us that home prices are not prone to bubbles - or major deflations - on any national scale," he'd said. "This is ridiculous, of course ... . In 1933, during the fourth year of the Great Depression, the United States found itself in the midst of a housing crisis that put housing starts at 10% of the level of 1925. Roughly half of all mortgage debt was in default. ~ Michael Lewis

My parents were very old school, as were my grandparents who went through the Great Depression and were a big influence on my life. So for them it was very important for me to have a college education and to pursue a normal job that would give me benefits and things like that.
So they were very, very much opposed to me being a musician. They were all pretty horrified. ~ Anne Boleyn

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. ~ Austan Goolsbee

The Great Depression had taken a physical toll on American manhood; even though the Army would accept just about anyone sane over 5 feet tall, 105 pounds in weight, possessing twelve or more of his own teeth, and free of flat feet, venereal disease and hernias, no fewer than 40 per cent of citizens failed these basic criteria. ~ Andrew Roberts

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. ~ Elizabeth Warren

In the Great Depression; when the overworked millions, who took to the street of Europe and the United States to demand reduction of hours of labor, were replaced by millions of unemployed workers in every advanced country, who no longer demand freedom from work but were forced to beg for work - any work, even in the defense industries where the means for their own destruction were built. ~ Anonymous

World War II was really unusual, because America was in the Great Depression before. So the war did help the US economy to get securely out of this decline. This time, the war [in Iraq] is bad for the economy in both the short and long run. We could have spent trillions in research or education instead. This would have led to future productivity increases. ~ Joseph Stiglitz

The minimum wage was enacted in 1937 during the Great Depression and it has been increased 16 times. It's a well-established economic policy to help families. ~ John Freeman

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

As a young man, I lived through the Great Depression, when banks failed and so many lost their jobs and homes and went hungry. I was fortunate to have a job at a canning factory that paid 25 cents an hour. ~ James E. Faust

Nobody can go back to how it was. The dust bowl dried us all up bitter as seeds and spat us out all over the land and none of us yet has taken root. ~ Katherine Longshore

I can't speak. There are too many negatives. Too many questions...And all the things these hard times have taken from me. All the things I've had to give up.

Except, perhaps, my dreams. ~ Katherine Longshore

The remedy [for the Great Depression] is to give the workers access to the means of production, and let them produce for themselves, not for others, ... the American way. ~ Upton Sinclair

Since at least the Great Depression, we've been hearing warnings that automation was or was about to be throwing millions out of work - Keynes at the time coined the term "technological unemployment," and many assumed the mass unemployment of the 1930s was just a sign of things to come - and while this might make it seem such claims have always been somewhat alarmist, what this book suggests is that the opposite was the case. They were entirely accurate. Automation did, in fact, lead to mass unemployment. We have simply stopped the gap by adding dummy jobs that are effectively made up. A combination of political pressure from both right and left, a deeply held popular feeling that paid employment alone can make one a full moral person, and finally, a fear on the part of the upper classes, already noted by George Orwell in 1933, of what the laboring masses might get up to if they had too much leisure on their hands, has ensured that whatever the underlying reality, when it comes to official unemployment figures in wealthy countries, the needle should never jump too far from the range of 3 to 8 percent. But if one eliminates bullshit jobs from the picture, and the real jobs that only exist to support them, one could say that the catastrophe predicted in the 1930s really did happen. Upward of 50 percent to 60 percent of the population has, in fact, been thrown out of work. ~ David Graeber

I am, as it happens, a baby boomer, but not one who feels any broad-gauge nostalgia for the '60s and '70s. My attitude resembles that of my parents, who were born in the '20s and lived through the Great Depression and World War II. ~ Terry Teachout

Few societies have come to grips with the new demography. We cling to the notion of retirement at sixty-five - a reasonable notion when those over sixty-five were a tiny percentage of the population but increasingly untenable as they approach 20 percent. People are putting aside less in savings for old age now than they have at any time since the Great Depression. More than half of the very old now live without a spouse and we have fewer children than ever before, yet we give virtually no thought to how we will live out our later years alone. ~ Atul Gawande

I was born into a working class Irish Catholic family at the brutal bottom of the Great Depression. I suppose this early imprinting and conditioning made me a life-long radical. My education was mostly scientific, majoring in electrical engineering and applied math. Those imprints made me a life-long rationalist. I have become increasingly skeptical about, or detached from, the assumption that radicalism and rationalism are the only correct perspectives with which to view life, but they remain my favorite perspectives. ~ Robert Anton Wilson

World War II ended the Great Depression with one of the great public-private industrial collaborations in the history of man. ~ Jon Meacham

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

When we're really old, people in the future will interview us, because we lived through one of the biggest events in human history. Like the Spanish flu of 1918 that killed over 50 million people. Or the great depression. Or Pompeii. Or the Titanic. ~ Oliver Markus Malloy

The Great Depression of the 1930s saw more American unmarried women working from nine to five, mostly in repetitive, boring, subordinate, dead-end jobs. But the number of working women doubled between 1870 and 1940. During World War II it doubled once again. ~ Helen Fisher

In the heart of the Great Depression, millions of American workers did something they'd never done before: they joined a union. Emboldened by the passage of the Wagner Act, which made collective bargaining easier, unions organized industries across the country, remaking the economy. ~ James Surowiecki

After all, Malthus was wrong. Marx was wrong. Democracy did not die during the Great Depression as the Communists predicted. And Khrushchev did not 'bury' us. We buried him. Neville Chute's On the Beach proved as fanciful as Dr. Strangelove and Seven Days in May. Paul Ehrlich's Population Bomb never exploded. It fizzled. The Clash of 79 produced Ronald Reagan and an era of good feelings. The Club of Rome notwithstanding, we did not run out of oil. The world did not end at the close of the second millennium, as some prophesied and others hoped. Who predicted the disappearance of the Soviet Empire? Is it not possible that today's most populous nations -China, India, and Indonesia- could break into pieces as well? Why do predictions of the Death of the West not belong on the same shelf as the predictions of 'nuclear winter' and 'global warming'? Answer: the Death of the West is not a prediction of what is going to happen, it is a depiction of what is happening now. First World nations are dying. ~ Pat Buchanan

When I was a deacon, the ominous signs of the Great Depression began to appear. Tens of thousands lost their jobs. Money was scarce. Families had to do without. Some young people did not ask their mothers, 'What's for dinner?' because they knew all too well that their cupboards held very little. ~ Joseph B. Wirthlin

You could argue that Barack Obama faced in '08 a situation as bad as any president since the Great Depression. What Obama inherited from the Bush administration, we all remember, was just an absolute global catastrophe. ~ Tony Kushner

The Great Depression in the 1930s turned many young people away from corporations towards communism. By contrast, the Great Recession in the first decade of this century seems to have turned many away from corporations towards entrepreneurship. ~ Ron Davison

Many years ago I was so innocent I still considered it possible that we could become the humane and reasonable America so many members of my generation used to dream of. We dreamed of such an America during the Great Depression, when there were no jobs. And then we fought and often died for that dream during the Second World War, when there was no peace.
But I know now that there is not a chance in hell of America becoming humane and reasonable. Because power corrupts us, and absolute power corrupts us absolutely. Human beings are chimpanzees who get crazy drunk on power. By saying that our leaders are power-drunk chimpanzees, am I in danger of wrecking the morale of our soldiers fighting and dying in the Middle East? Their morale, like so many lifeless bodies, is already shot to pieces. They are being treated, as I never was, like toys a rich kid got for Christmas. ~ Kurt Vonnegut

Burlesque thrived during the Great Depression, and by extension, so, too, did Gypsy [Rose Lee]. Men could no longer afford to pay $5.50 to see a show on Broadway, but they could scrape together $1.00 for a matinee at a burlesque house. ~ Karen Abbott

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

In the five years since the end of the Great Recession, the economy has made considerable progress in recovering from the largest and most sustained loss of employment in the United States since the Great Depression. ~ Janet Yellen

Don't ever let anyone tell you that history doesn't repeat. For 70 years, liberals have been spinning the yarn that FDR's New Deal, despite all the evidence that it exacerbated and prolonged the Great Depression, quickened our economic recovery. Indeed, I remember scratching my head when one of my college history professors in the 1970s tried to convince us of that theory and its corollary - an even better howler - that FDR was actually a conservative, because if he hadn't implemented his socialist programs, the republic would have died right there. ~ David Limbaugh

I am obsessed with the Great Depression and with former showgirls - and the Victorians - the idea of wistful, dark romance. ~ Karen Elson

Market capitalism survived and prospered after the boom-bust industrial revolution of the 19th century, and the Great Depression and world wars of the 20th century. It will recover from the financial panic of 2008-09 and Obamanomics. ~ Mark Skousen

Starting in 1792 with George Washington, there were financial crises every ten to fifteen years. Panics, bank runs, credit freezes, crashes, depressions. People lost their farms, families were wiped out. This went on for more than a hundred years, until the Great Depression, when Oklahoma turned to dust. "We can do better than this." Americans said. "We don't need to go back to the boom-and-bust cycle." The Great Depression produced three regulations:
The FDIC-your bank deposits were safe.
Glass-Steagall-banks couldn't go crazy with your money.
The SEC-stock markets would be tightly controlled.
For fifty years, these rules kept America from having another financial crisis. Not one panic or meltdown or freeze. They gave Americans security and prosperity. Banking was dull. The country produced the greatest middle class the world had ever seen. ~ Elizabeth Warren

Everything I learned about the Great Depression was from a college textbook. ~ Ralph Abernathy

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

In the Great Depression, you bought something if you had the cash to buy it. ~ S. Truett Cathy

Dodd-Frank is the most restrictive financial regulation since the Great Depression - but it won't stop another bubble. ~ Ziad K. Abdelnour

On January 7, 1973, the New York Times featured an interview with one of the nation's top financial forecasters, who urged investors to buy stocks without hesitation: "It's very rare that you can be as unqualifiedly bullish as you can now." That forecaster was named Alan Greenspan, and it's very rare that anyone has ever been so unqualifiedly wrong as the future Federal Reserve chairman was that day: 1973 and 1974 turned out to be the worst years for economic growth and the stock market since the Great Depression. ~ Benjamin Graham

We don't have a great war in our generation, or a great depression, but we do, we have a great war of the spirit. We have a great revolution against the culture. The great depression is our lives. We have a spiritual depression. ~ Chuck Palahniuk

It's almost worth the Great Depression to learn how little our big men know. ~ Will Rogers