A Quote by James Buchan
Up until the Depression, recession had a moral character: it was supposed to purge the body economic of the greed and excess that attends a business expansion.
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The Panic of 1819 exerted a profound effect on American economic thought. As the first great financial depression, similar to a modern expansion-depression pattern, the panic heightened interest in economic problems, and particularly those problems related to the causes and cures of depressed conditions.
Fear, greed and hope have destroyed more portfolio value than any recession or depression we have ever been through.
The difference between recession and depression is simple. Recession, goes the saying, is when you lose your job; depression is when I lose mine.
We face a far greater risk of psychological depression than of economic recession.
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.
"The ultimate recession": a recession caused not by failed regulation and bankers' greed, but by very high oil prices, food and water shortages, disappearing forests, accelerating climate change, forced migration and mass civil disruption...The long and the short of it, unfortunately, is this: more politicians still believe that economic recovery depends on continuing to live beyond our means (financially and ecologically) than on learning to live within our means. And that's why the ultimate "Perfect Storm" recession still looms on the horizon
There were no shortcuts, I realized. It took years of racing to build up the mind and body and character until a rider had logged hundreds of races and thousands of miles of road. I wouldn't be able to win a Tour de France until I had enough iron in my legs, and lungs, and brain and Heart.
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.
The moral angle to the foreclosure crisis - and, of course, in capitalism we're not supposed to be concerned with the moral stuff, but let's mention it anyway - shows a culture that is slowly giving in to a futuristic nightmare ideology of computerized greed and unchecked financial violence.
Private prison companies are now listed on the New York Stock exchange and are doing quite well in a time of economic recession (and depression in some communities). But that's just the tip of the iceberg.
The financial catastrophe of 2008 nearly precipitated a calamitous economic depression, jolting America and much of the West into a sudden recognition of their systemic vulnerability to unregulated greed.
I promised to bring change to Washington. The underlying reason for the economic mess we're in has been building for years. It's a fundamental imbalance in which the top 1 percent now gets almost a quarter of all national income. We haven't seen income and wealth this concentrated since the late nineteen twenties, and we all know what happened then - the Great Depression. We'll never really get out of the gravitational pull of the Great Recession until we fix this basic problem.
If you talk to people about the history of the games business during economic downturns, they'll tell you that it's a recession-proof industry.
I do not know what horrified me most [during the depression]: the economic misery of my companions [or] their moral and ethical coarseness.
Expansions do not die of old age. The probability of recession in the following year is the same for a three-year-old expansion as it is for a five- or six-year-old expansion.
I don't believe that economic equality is possible; indeed some measure of inequality is essential for the spirit of envy and keeping up with the Joneses that is, like greed, a valuable spur to economic activity.
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