A Quote by Ron Chernow

After 1929, so many people had been traumatized by the stock market crash that there was a lost generation.

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After Been Crash Generation Had Lost Lost Generation Many Market Market Crash People So Many People Stock Stock Market Stock Market Crash

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Ron Chernow
American - Author
Born: March 3, 1949

Smoot and Hawley ginned up The Tariff Act of 1930 to get America back to work after the Stock Market Crash of '29. Instead, it destroyed trade so effectively that by 1932, American exports to Europe were just a third of what they had been in 1929. World trade fell two-thirds as other nations retaliated. Jobs evaporated.

Elaine Chao

Alas, in 1929 came the Stock Market crash and everything changed and became worrisome. People started practicing conservatism because of financial losses, myself included.

Pola Negri

The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies and consumers very unsure about future income, and so led them to stop spending as they waited for more information.

Christina Romer

They were the darkest of times, the years following the crash of the stock market in 1929. Thousands of people across the United States were cast out of their Jobs, off their farms, out of their homes and apartments, and into the crushing depths of poverty.

Kathi Appelt

We had a booming stock market in 1929 and then went into the world's greatest depression. We have a booming stock market in 1999. Will the bubble somehow burst, and then we enter depression? Well, some things are not different.

Jeffrey Sachs

Some calamities - the 1929 stock market crash, Pearl Harbor, 9/11 - have come like summer lightning, as bolts from the blue. The looming crisis of America's Ponzi entitlement structure is different. Driven by the demographics of an aging population, its causes, timing and scope are known.

George Will

I think the tech stock, the public market is still completely traumatized by the dotcom crash. I think the investors and reporters and analysts and everybody is determined to not get taken advantage of again, and that is what everybody who lived through 2000, what they kind of remember.

Marc Andreessen

The stock market crashed in October 1929. But that was not the cause of what caused the Great Depression. It was, in my opinion, a very minor element of it. What happened was that from 1929 to 1933 you had a major contraction which, in my opinion, was caused primarily by the failure of the Federal Reserve System, to follow the course of action for which it was set up. It was set up to prevent exactly what happened from 1929 to 1933. But instead of preventing it, they facilitated it.

Milton Friedman

To be honest, I've never invested in the stock market. My grandmother used to warn us against the stock exchange. My grandfather had lost a lot money in the share market. We are a working class family.

Pratik Gandhi

I think the stock market is a very dangerous place to be at the present time. In fact, the stock market today is almost identical to where it was in October 2007 and then there was a $7 trillion crash and before that in March 2000.

David Stockman

The stock market is but a mirror which provides an image of the underlying or fundamental economic situation. Cause and effect run from the economy to the stock market, never the reverse. In 1929 the economy was headed for trouble. Eventually that trouble was violently reflected in Wall Street.

John Kenneth Galbraith

When the stock market crash, a lot of people realized that the American dream was not all it was cracked up to be. They'd been living for this thing and it was kind of a façade. It wasn't real.

Dominic Balli

A major boom in real stock prices in the US after Black Tuesday brought them halfway back to 1929 levels by 1930. This was followed by a second crash, another boom from 1932 to 1937, and a third crash. Speculative bubbles do not end like a short story, novel, or play. There is no final denouement that brings all the strands of a narrative into an impressive final conclusion. In the real world, we never know when the story is over.

Robert J. Shiller

In the 1987 stock market crash, according to the conclusions of the official Brady report, colossal sales of stock index futures by so-called portfolio insurers - whose investment strategies depended entirely on these derivatives - greatly exacerbated the 500-point market decline.

Carol Loomis

I was lucky enough to see with my own eyes the recent stock-market crash, where they lost several million dollars, a rabble of dead money that went sliding off into the sea.

Federico Garcia Lorca

The economic repercussions of a stock market crash depend less on the severity of the crash itself than on the response of economic policymakers, particularly central bankers.

Ben Bernanke

A Quote by Ron Chernow

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