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Recession Quotes

Browse 48 quotes about Recession.

Recession Quotes

“The recession and regression of any society are always an indication of how poorly the citizens of that country understand the value of time.”

WorldLifePurposeTimeValuesHumanityUnderstandingWorkWealthPovertySocietyGreatnessProduceIgnoranceCallingWasteValueProductivityConversionGiftGreatProductConvertIndicationRegressionValue Of TimeRecessionCitizens Of A Nation
Book:How To Become Great Through Time Conversion: Are you wasting time, spending time or investing time?
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“It’s unthinkable, now to live as her parents had done, going to work from nine to five and enjoying the benefits of the newly-formed health and education services. What paradise it had seemed! Now, in order to pay their exorbitant mortgages, and ever more exorbitant fuel prices, British adults have to work long hours – the longest, it is said, in Europe… Everyone they know, everyone they see, is just like them, living in houses like these, reading the same papers, seeing the same films and TV programmes and plays, buying from the same shops and sending their children to the same schools; and they think it will go on for ever, either ever-mounting property prices cushioning them. But it can’t.”

WorkClassPovertyBenefitsSocialismCrashMortgageRecessionNhs
Author:Amanda Craig
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“Millennials: We lost the genetic lottery. We graduated high school into terrorist attacks and wars. We graduated college into a recession and mounds of debt. We will never acquire the financial cushion, employment stability, and material possessions of our parents. We are often more educated, experienced, informed, and digitally fluent than prior generations, yet are constantly haunted by the trauma of coming of age during the detonation of the societal structure we were born into. But perhaps we are overlooking the silver lining. We will have less money to buy the material possessions that entrap us. We will have more compassion and empathy because our struggles have taught us that even the most privileged can fall from grace. We will have the courage to pursue our dreams because we have absolutely nothing to lose. We will experience the world through backpacking, couch surfing, and carrying on interesting conversations with adventurers in hostels because our bank accounts can't supply the Americanized resorts. Our hardships will obligate us to develop spiritual and intellectual substance. Maybe having roommates and buying our clothes at thrift stores isn't so horrible as long as we are making a point to pursue genuine happiness.”

AmericaPovertyGenerationsMillennialsRecessionMillennial AuthorsBaby BoomersMillennial WritersAmerican Authors
Author:Maggie Young
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“This malignant persistence since September 11th is the biggest surprise of all. In previous decades, sneak attacks, stock-market crashes, and other great crises became hinges on which American history swung in dramatically new directions. But events on the same scale, or nearly so, no longer seem to have that power; moneyed interests may have become too entrenched, elites too self-seeking, institutions too feeble, and the public too polarized and passive for the country to be shocked into fundamental change.”

ChangeUnited StatesStagnation9 11RecessionCrises9 11 10th Anniversary
Author:George Packer
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“DINK" is an acronym that stands for "double income, no kids" or "dual income, no kids". It describes a couple without children living together while both partners are receiving an income; because both of their wages are coming into the same household, they are free to live more comfortably than couples who live together and spend their money on raising their children. The term was coined at the height of yuppie culture in the 1980s. The Great Recession solidified this social trend, as more couples waited longer to have children or chose not to have children at all.”

ChildrenKidsMoneyComfortableIncomeFreeRecessionRaiseWageDink
Author:wiki
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“You know what? We need a recession in this country, because that would finaly weed out al the subnormal, underdeveloped, stupefied, puerile people in this workforce.”

FunnyStupidStupidityBitterNeedJoblessJoblessnessUnemployedRecessionEmployement
Book:Bitter is the New Black: Confessions of a Condescending, Egomaniacal, Self-Centered Smartass, Or, Why You Should Never Carry A Prada Bag to the Unemployment Office
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“America isn't breaking apart at the seams. The American dream isn't dying. Our new racial and ethnic complexion hasn't triggered massive outbreaks of intolerance. Our generations aren't at each other's throats. They're living more interdependently than at any time in recent memory, because that turns out to be a good coping strategy in hard times. Our nation faces huge challenges, no doubt. So do the rest of the world's aging economic powers. If you had to pick a nation with the right stuff to ride out the coming demographic storm, you'd be crazy not to choose America, warts and all.”

GenerationsConflictEconomicsAgingPopulationAmerican DreamAmerican PoliticsAmerican CultureRace RelationsRace And Racism In AmericaDemographicsInterdependencePublic PolicyWorkforceAgeismRace In AmericaGeneration GapRecessionThe American DreamAging PopulationU S PoliticsProblems Of TodayDemographics Of United StatesU S CultureDemograghic ShiftsDemographics Of UsAging WorkforceAmerican PopulationGemographic ShiftU S Population
Book:The Next America: Boomers, Millennials, and the Looming Generational Showdown
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“the words on the paper im readin are blarin out at me loud an angrylike tellin me there's no end to the recession theres no jobs theres no peace theres no hope man an people wonder why i do what i do? an bums are bummin lights from me and babies are squintin up at me an my coffee is rupturing my gut bitterlike an i guess the world is kinda like the coffee sometimes – ill be suffering thru both tomorrow.”

PoetryPoorWorking ClassBeatRecessionBeat PoetryBums
Author:Scott C. Holstad
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“A CEO shouldn't get several hundred times the salary that the janitor is paid. An athlete shouldn't get several hundred times the salary that the waterboy is paid. A filmstar shouldn't get several hundred times the salary that the crew at the bottom are paid. I understand if you are not yet civilized enough to flatten the field completely – for you are an infantile species after all. But at the very least, do your best to reduce the gap - that is, if you intend to be human someday.”

SocialismUnemploymentRich And PoorMinimum WageEconomic InequalityEconomic JusticeEconomic DisparityRecessionBlue Collar WorkerMaking Ends Meet
Book:Corazon Calamidad: Obedient to None, Oppressive to None
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“The crash did not cause the Depression: that was part of a far broader malaise. What it did was expose the weaknesses that underpinned the confidence and optimism of the 1920s - poor distribution of income, a weak banking structure and insufficient regulations, the economy's dependence on new consumer goods, the over-extension of industry and the Government's blind belief that promoting business interests would make America uniformly prosperous.”

PoliticsBusinessEconomyFinanceRegulationCrashBanking1920sRecession
Book:Anything Goes: A Biography of the Roaring Twenties
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“The simple measure of sanity in housing prices, Zelman argued, was the ratio of median home price to income. Historically, in the United States, it ran around 3:1; by late 2004, it had risen nationally, to 4:1. “All these people were saying it was nearly as high in some other countries,” says Zelman. “But the problem wasn’t just that it was four to one. In Los Angeles it was ten to one and in Miami, eight-point-five to one.”

Real EstateRecession2008
Book:The Big Short: Inside the Doomsday Machine
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“When Steve Eisman stumbled into this new, rapidly growing industry of specialty finance, the mortgage bond was about to be put to a new use: making loans that did not qualify for government guarantees. The purpose was to extend credit to less and less creditworthy homeowners, not so that they might buy a house but so that they could cash out whatever equity they had in the house they already owned.”

CreditDebtEquityRecessionHomeownersLoansMortgage BondsSteve Eisman
Book:The Big Short: Inside the Doomsday Machine
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“In other words, FDR understood that to be effective, governance couldn't be so antiseptic that it set aside the basic stuff of politics: You had to sell your program, reward supporters, punch back against opponents, and amplify the facts that helped your cause while fudging the details that didn't. I found myself wondering whether we'd somehow turned a virtue into a vice; whether, trapped in my own high-mindedness, I'd failed to tell the American people a story they could believe in; and whether having ceded the political narrative to my critics, I was going to be able to wrest it back.”

AmericaPoliticsPresidentEconomyObamaRecession
Book:A Promised Land
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“Економічний розвиток відбувається лише тоді, коли він не блокується економічними невдахами, які відчувають, що їхні економічні привілеї будуть втрачені, й політичними лузерами, які бояться позбутися своєї політичної влади.”

PoliticsEconomyCorruptionLosersRecession
Book:چرا ملت ها شکست می خورند؟
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“The one plentiful herds of magazine writers would continue to be culled - by the Internet, by the recession, by the American public, who would rather watch TV or play video games or electronically inform friends that, like, 'rain sucks!' But there's no app for a bourbon buzz on a warm day in a cool, dark bar. The world will always want a drink.”

ChangeTechnologyDrinkingAlcoholSarcasmNew AgeChangesThe PastAmericansElectronicsTvThe FutureBourbonVideo GamesBarRecessionThe InternetElectronic RevolutionElectronic BooksThe PublicThe RecessionA DrinkElectronic Software
Book:Gone Girl
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“Because the lenders sold many—though not all—of the loans they made to other investors, in the form of mortgage bonds, the industry was also fraught with moral hazard. “It was a fast-buck business,” says Jacobs. “Any business where you can sell a product and make money without having to worry how the product performs is going to attract sleazy people.”

Wall StreetRecessionMortgage Bonds
Book:The Big Short: Inside the Doomsday Machine
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“It is ludicrous to believe that asset bubbles can only be recognized in hindsight,” he wrote. “There are specific identifiers that are entirely recognizable during the bubble’s inflation. One hallmark of mania is the rapid rise in the incidence and complexity of fraud…. The FBI reports mortgage-related fraud is up fivefold since 2000.” Bad behavior was no longer on the fringes of an otherwise sound economy; it was its central feature.”

EconomyFraudRecessionSubprime Mortgage LoansAsset Bubble
Book:The Big Short: Inside the Doomsday Machine
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“Long Beach Savings was the first existing bank to adopt what was called the “originate and sell” model. This proved such a hit—Wall Street would buy your loans, even if you would not!—that a new company, called B&C mortgage, was founded to do nothing but originate and sell.”

Wall StreetRecessionSubprime Mortgage LoansB C MortgageLong Beach SavingsOriginate And Sell
Book:The Big Short: Inside the Doomsday Machine
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“By early 2005 all the big Wall Street investment banks were deep into the subprime game. Bear Stearns, Merrill Lynch, Goldman Sachs, and Morgan Stanley all had what they termed “shelves” for their subprime wares, with strange names like HEAT and SAIL and GSAMP, that made it a bit more difficult for the general audience to see that these subprime bonds were being underwritten by Wall Street’s biggest names.”

Wall StreetRecessionGoldman SachsSubprime Mortgage LoansSubprime Mortgage CrisisBear StearnsMerrill LynchMorgan StanleySubprime Bonds
Book:The Big Short: Inside the Doomsday Machine
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“Back in July 2003, he’d written them a long essay on the causes and consequences of what he took to be a likely housing crash: “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. During the 1930s, housing prices collapsed nationwide by roughly 80%.”

Wall StreetRecessionSubprime Mortgage LoansAlan GreenspanAsset Bubble
Book:The Big Short: Inside the Doomsday Machine
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“There was more than one way to think about Mike Burry’s purchase of a billion dollars in credit default swaps. The first was as a simple, even innocent, insurance contract. Burry made his semiannual premium payments and, in return, received protection against the default of a billion dollars’ worth of bonds. He’d either be paid zero, if the triple-B-rated bonds he’d insured proved good, or a billion dollars, if those triple-B-rated bonds went bad. But of course Mike Burry didn’t own any triple-B-rated subprime mortgage bonds, or anything like them. He had no property to “insure” it was as if he had bought fire insurance on some slum with a history of burning down. To him, as to Steve Eisman, a credit default swap wasn’t insurance at all but an outright speculative bet against the market—and this was the second way to think about it.”

Wall StreetRecessionGoldman SachsCredit Default SwapSubprime Mortgage BondsMike BurrySteve EismanAig
Book:The Big Short: Inside the Doomsday Machine
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