Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves.— Herbert Hoover
Belligerent Economic Depression quotations
There is a difference between broke and being poor.
Being broke is a temporary economic condition, but being poor is a disabling frame of mind and a depressed condition of your spirit, and you must vow to never, ever be poor again.
It's a recession when your neighbor loses his job; it's a depression when you lose yours.
Stock prices have reached what looks like a permanently high plateau.
I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.
Depressions and mass unemployment are not caused by the free market but by government interference in the economy.
The end of the decline of the Stock Market will probably not be long, only a few more days at most.
The U.S. dollar is in terminal decline. America is tragically bankrupt, unable to pay its lenders without printing the dollars to do so, and enmeshed in an economic depression. The clock is ticking until the dollar faces a crisis of confidence like every other bubble before it.
A state does not simply fall apart as a result of depression.
.. [Weimar Germany] was not destroyed by economic depression or widespread unemployment, though these naturally contributed to the atmosphere of doom, but because the Weimar Right was resolved to abolish the parliamentary state in favour of a vaguely conceived authoritarian state.
I see nothing in the present situation that is either menacing or warrants pessimism... I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress.
The social and economic impact of the earthquake is still very present and is contributing to mental health problems, the mother who lost her husband, or children who lost their parents, and who now are responsible for the whole family, taking children to school and providing food. This transition is still causing stress and depression.
No one can possibly have lived through the Great Depression without being scarred by it. No amount of experience since the depression can convince someone who has lived through it that the world is safe economically.
For the immediate future, at least, the outlook (stocks) is bright.
Economic depression can not be cured by legislative action or executive pronouncement.
The decline is in paper values, not in tangible goods and services.
..America is now in the eighth year of prosperity as commercially defined. The former great periods of prosperity in America averaged eleven years. On this basis we now have three more years to go before the tailspin.
Most politicians are ever eager to regulate industrial and commercial activity and strike at the economic elite with confiscatory taxation. Unfortunately, regulation and taxation tend to hamper economic activity, inhibit productivity, and depress levels of living.
A depression is a situation of self-fulfilling pessimism.
To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection of production, we want to create further misdirection -- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end.
We are really on track for a soft landing. There are no balloons popping.
All safe deposit boxes in banks or financial institutions have been sealed.
.. and may only be opened in the presence of an agent of the I.R.S.
Once upon a time my political opponents honored me as possessing the fabulous intellectual and economic power by which I created a worldwide depression all by myself.
The idea of storage as a solution of economic problems at least has the support of common sense.It is diametrically opposed to the topsy-turvy Alice-in-Wonderland reasoning that has marked so much of our depression thinking and policy.
The spring of 1930 marks the end of a period of grave concern.
..American business is steadily coming back to a normal level of prosperity.
The world has never been as divided as it is now, what with religious wars, genocides, a lack of respect for the planet, economic crisis, depression, poverty, with everyone wanting instant solutions to at least some of the world's problems or their own. And things only look bleaker as we head into future.
I am convinced that through these measures we have reestablished confidence.
The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.
It was a very economically depressed time [the 80s] and because of that, there was a lot of space. Everything was relatively dilapidated, and one could live on a pretty low income. One could live well below the poverty line and not suffer immensely.
When a country is at war or in economic depression, underdevelopment or tightened security, it sets an affective tone or mood, which seeps through into everyday life via all kinds of channels.
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.
We face a far greater risk of psychological depression than of economic recession.
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 world economy is in a nosedive, and understanding what I call "depression economics" - the weird world you get into when even a zero interest rate isn't low enough, and a messed-up financial system is dragging down the real economy - is essential if we're going to avoid the worst.
Home sales are coming down from the mountain peak, but they will level out at a high plateau - a plateau that is higher than previous peaks in the housing cycle.
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.
The years of the economic depression have been years of political reaction, and that is why the economic crisis has generated a world peace crisis.
Cuts in a sector are never going to be welcomed, and arts funding cut by up to 30% doesn't make nice reading. But cuts are happening across the board, in many sectors for the sake of the economy. And if you look at economically depressed post-war UK, The Beatles, The Who and The Rolling Stones came into fruition... maybe giving weight to the claim that bad economic times can actually lead to greater creativity!