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Great Depression Quotes

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Great Depression Quotes

“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.”

“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.”

“In his first year in office, President Obama pulled us back from the brink of the greatest economic crisis since the Great Depression and worked to lay a new foundation for economic growth. The president identified three key strategies to build that lasting prosperity: innovation, investment, and education.”

“The Great Depression was going on, so that the station and the streets teemed with homeless people, just as they do today. The newspapers were full of stories of worker layoffs and farm foreclosures and bank failures, just as they are today. All that has changed, in my opinion, is that, thanks to television, we can hide a Great Depression. We may even be hiding a Third World War.”

“You have a class of young strong men and women, and they want to give their lives to something. Advertising has these people chasing cars and clothes they don't need. Generations have been working in jobs they hate, just so they can buy what they don't really need. 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.”

“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.”

“Back in August, I wrote a post about the supposed race to the bottom with ebooks, refuting some nonsense written by an establishment bonehead. This meme won't die. People are still convinced that new ebooks are going to be priced at ten cents, and writers will starve, and this will cause a second Great Depression where banks will close and people will be forced to buy Kindles with food stamps, and then the earth will enter another ice age where all the bunnies will freeze to death.”

“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.”

“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.”

“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.”

“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.”

“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.”

“Right now, with millions of Americans still out of work, and struggling to recover from the worst economic downturn since the great depression, with 40 million Americans dealing with student loans, with millions of people working full-time at minimum wage and still living in poverty, with the big banks getting bigger and the workers getting poorer, and seniors struggling to make ends meet, Republicans in Washington have decided the most important thing for them to focus on is how to deny women access to birth control.”

“No Congress of the United States ever assembled, on surveying the state of the Union, has met with a more pleasing prospect than that which appears at the present time. In the domestic field there is tranquillity and contentment, harmonious relations between management and wage earner, freedom from industrial strife, and the highest record of years of prosperity.”

“Living through the 1929 Great Depression helped shape my social conscience. During this time, I realized the earth was still the same place, manufacturing plants were still intact, and resources were still there, but people didn’t have money to buy the products. I felt the rules of the game we play by were outmoded and damaging. This began a life-long quest resulting in the conclusions and designs presented in The Venus Project.”

“Then, when the Fed's fire hoses started spraying an elephant soup of liquidity injections in every direction, and its balance sheet grew by $1.3 trillion in just thirteen weeks compared to $850 billion during its first ninety-four years, I became convinced that the Fed was flying by the seat of its pants, making it up as it went along. It was evident that its aim was to stop the hissy fit on Wall Streetm and that the thread of a Great Depression 2.0 was just a cover story for a panicked spree of money printing that exceeded any other episode in recorded human history.”