Quotes & Sayings About The Great Depression

Debates go on to this day about what caused the Great Depression. Economics is not very good at explaining swings in economic activity. — Eugene Fama

Investing in auto companies and ensuring a financial collapse didn't lead not from a recession to a great depression may not have been the most popular thing to do, but it was the right thing to do. — Robert Gibbs

The sepia tone of November has become blood-soaked with paper poppies festooning the lapels of our politicians, newsreaders and business leaders ... I will no longer allow my obligation as a veteran to remember those who died in the great wars to be co-opted by current or former politicians to justify our folly in Iraq, our morally dubious war on terror and our elimination of one's right to privacy. — Harry Leslie Smith

We are having the single worst recovery the U.S. has had since the Great Depression. I don't care how you measure it. The East Coast knows it. The West Coast knows it. North, South, old, young, everyone knows it's the worst recovery since the Great Depression. — Arthur Laffer

Came of age in the Great Depression, when economic despair hovered over — Tom Brokaw

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. — John Freeman

I was born into a working class Irish Catholic family at the brutal bottom of the Great Depression. I suppose this early imprinting and conditioning made me a life-long radical. My education was mostly scientific, majoring in electrical engineering and applied math. Those imprints made me a life-long rationalist. I have become increasingly skeptical about, or detached from, the assumption that radicalism and rationalism are the only correct perspectives with which to view life, but they remain my favorite perspectives. — Robert Anton Wilson

World War II ended the Great Depression with one of the great public-private industrial collaborations in the history of man. — Jon Meacham

A great Tamil poet, given to decadence and debauchery, once said that the story of his life could serve as an example to the youth on how one should
not live. Having lived, or rather, having sleepwalked for ten years through the desolate wastelands of depression, I survived to reach the other side. I believe that this validates my claim to write this book for you. — Indu Muralidharan

It wasn't until the 1920s that a bare majority of children grew up in families where the father's labor purchased the family's provisions, while their mother did unpaid child care, elder care, and housework.

The Great Depression and World War II disrupted this family form, but it roared back in the 1950s, when the percentage of wives and mothers who were supported entirely by their husbands' wages reached a high that has never been equaled, before or since. — Stephanie Coontz

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. — Isaac Asimov

After the war, Prohibition was passed, and with liquor no longer legally available the nation plunged headlong into the Great Depression. — Dave Barry

A deep and enduring economic crisis like the Great Depression of the 1930s, or a natural disaster that kills tens of thousands of people, might change America's fundamental calculus about economic justice. Until then, the American public will probably continue to refrain from broadly challenging both male and female corporate leaders who compensate themselves far in excess of their value to society. That — Sebastian Junger

There's a tendency for those unfamiliar with cooperatives to look down on them as the leftovers of the mainstream economy, implying that if these ideologically driven people simply reorganized themselves into "normal" private companies, they would be more efficient and productive. In fact, just the opposite is true: Cooperatives often enter into economic activities that private businesses will not take on. The most fertile period of cooperative growth was during the Great Depression. Rural electric cooperatives spread across the American plains when it became clear that other investor-owned and municipally owned utilities were uninterested in wiring up sparsely populated regions. Credit unions, as we'll soon explore, have seen an upsurge during the recent financial crisis. — Michael Shuman

If you believe suicide will bring you peace, or at the very least just an end to everything you hate- you are displaying self-caring behavior. You are still able to actively seek solutions to your problems. You are willing to go to great lengths to provide what you believe will be soothing to yourself.
This strikes me as optimistic. — Augusten Burroughs

American labor may now look to the future with confidence. — James J. Davis

Analysis predating [Milton] Friedman's gave a different answer to question of the Fed's policy errors [during the Great Depression] and new scholarship is validating the old wisdom. It now appears that Friedman will be merely an interlude between the sounder analysis of economists contemporary to the Great Depression and those who have rediscovered their insights. --Jeff Herbener — David Howden

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. — J.A. Konrath

Whatever change you desire for the world, create that change in your own life. You are here for a purpose. Seek it out. Hunt it down. The greatest misery is to be purposeless. The great depression of our age is not economic, but spiritual. Our spiritual poverty is rooted in our purposelessness. — Matthew Kelly

During the Great Depression, African Americans were faced with problems that were not unlike those experienced by the most disadvantaged groups in society. The Great Depression had a leveling effect, and all groups really experienced hard times: poor whites, poor blacks. — William Julius Wilson

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. — Murray Rothbard

In the great depression, things could only be set right by causing the idle plant to work again ... Roosevelt ... spent billions of public money and created a huge public debt, but by so doing he revived production and brought his country out of the depression. Businessmen, who in spite of such a sharp lesson continued to believe in old-fashioned economics, were infinitely shocked, and although Roosevelt saved them from ruin, they continued to curse him and to speak of him as 'the madman in the White House.' ... [It's one more] striking example of inability to learn from experience. — Bertrand Russell

The simple fact of the matter is, as I know everyone in this room knows, that the recession that this country faced when this President took office was the worst since the Great Depression. — Jay Carney

Chuck Palahniuk
Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don't need. We're the middle children of history. No purpose or place. We have no Great War, No Great Depression. Our great war is a spiritual war. Our great depression is our lives. We've all been raised on television to believe that one day we'd all be millionaires and movie gods and rock stars, but we won't — Chuck Palahniuk

Oh, sure, we have another world war coming, and another great depression, but where are the leaders this time? — Kurt Vonnegut

A middle child, I was born in the depths of the Great Depression. My dad and mom were factory workers, struggling to make ends meet. — Dennis L. McKiernan

The big question about the American depression is not whether war with Germany and Japan ended it. It is why the Depression lasted until that war. From 1929 to 1940, from Hoover to Roosevelt, government intervention helped to make the Depression Great. — Amity Shlaes

Although I was not aware of it at the time, the experience of growing up during the Great Depression was to have a profound impact on my intellectual and professional career. — Lawrence R. Klein

So I analyzed that and decided I didn't want to be the president during a depression greater than the Great Depression, or the beginning of a depression greater than the Great Depression. — George W. Bush

What I find so interesting is, Herbert Hoover in August 1928 said no country in the world was closer to abolishing poverty than the United States. And then, of course, we had the Great Depression. — Robert Dallek

The minimum wage is something that F.D.R. put in place a long time ago during the Great Depression. I don't think it worked then. It didn't solve any problems then and it hasn't solved any problems in 50 years. — John Raese

Depression is a devastating illness, causing great suffering in the afflicted and anxiety to their nearest and dearest: it can hit at any age. — John Cornwell

Great griefs exhaust. They discourage us with life. The man into whom they enter feels something taken from him. In youth, their visit is sad; later on, it is ominous. — Victor Hugo

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. — Michael Lewis

In the Great Depression, you bought something if you had the cash to buy it. — S. Truett Cathy

Everything I learned about the Great Depression was from a college textbook. — Ralph Abernathy

I am, as it happens, a baby boomer, but not one who feels any broad-gauge nostalgia for the '60s and '70s. My attitude resembles that of my parents, who were born in the '20s and lived through the Great Depression and World War II. — Terry Teachout

But through world wars and a Great Depression, through painful social upheaval and a Cold War, and now through the attacks of September 11, 2001, our Nation has indeed survived. — Nick Rahall

I was 21 and looking for work in 1932, one of the worst years of the Great Depression. And I can remember one bleak night in the thirties when my father learned on Christmas Eve that he'd lost his job. To be young in my generation was to feel that your future had been mortgaged out from under you, and that's a tragic mistake we must never allow our leaders to make again. — Ronald Reagan

The singer-songwriter has always played music that was stylistically rooted in the '30s and the Great Depression and the Dust Bowl. But the fact of the matter is that none of us remember the Depression firsthand. — Steve Earle

Women are an eternal subject, which is a lot like being subjected, or subjugated, or a subject nation, even. There are comparatively few articles about whether men are happy or why their marriages also fail or how nice or not their bodies are, even the movie-star bodies. They are the gender that commits the great majority of crime, particularly violent crime, and they are the majority of suicides as well. American men are falling behind women in attending college, and have fallen farther in the current economic depression than women, which you'd think would make them interesting subjects of inquiry. — Rebecca Solnit

When you are feeling great, you probably don't think too much about your depression or the work that you need to do, because you want to relish that feeling of being somewhat normal again right? Well, — Robert Duff

Everything we think of as great has come to us from neurotics. It is they and they alone who found religions and create great works of art. The world will never realize how much it owes to them and what they have suffered in order to bestow their gifts on it. — Marcel Proust

In his first term, President Barack Obama played a cautious manager navigating the worst economic disaster since the Great Depression and cleaning up the messes left by President George W. Bush in Iraq and Afghanistan. — Kevin O'Leary

From a generation that came of age during the Great Depression, millions of our country's best and bravest took up arms in a worldwide struggle against tyranny. — Steve Buyer

Increasingly economic historians can draw analogies between the development of the present crisis and the period between the two world wars, as well as the crisis of a century ago, which was associated with the so-called great depression of 1873-1895. The latter crisis resulted in the rise of monopoly capitalism and imperialism, but also the end of Pax Britannica, as Britain began its decline from world leadership in the face of challenges from Germany and the United States. The present world crisis seems to be spelling the beginning of the end of Pax Americana and may hold untold other major readjustments in the international division of labor and world power in store for the future. — Andre Gunder Frank

The One who has done the greatest thing of all for you, must be concerned about you in everything, and though the clouds are thick and you cannot see His face, you know He is there. 'Behind a frowning providence He hides a smiling face.' Now hold on to that. You say that you do not see His smile. I agree that these earth born clouds prevent my seeing Him, but He is there and He will never allow anything finally harmful to take place. Nothing can happen to you but what He allows, I do not care what it may be, some great disappointment, perhaps, or it may be an illness, it may be a tragedy of some sort, I do not know what it is, but you can be certain of this, that God permits that thing to happen to you because it is ultimately for your good. 'Now no chastening for the present seemeth to be joyous, but grievous; nevertheless afterward it yieldeth the peaceable fruit of righteousness ... ' (Hebrews 12. 11). (Spiritual Depression Its Causes and Cure, 145) — D. Martyn Lloyd-Jones

In the middle of the Great Depression, George Jenkins, Jr. left his job at a grocery store and decided he would open up his own store. I am sure many people thought Mr. Jenkins was crazy, but he had a dream. Today, his chain of stores employs 127,000 Floridians and is the largest employee-owned company in the country. We know it as Publix. — Rick Scott

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 ... — H.G.Wells

With great profundity I note the pleasure one gets or takes in pushing wheeled objects, as opposed to the depression involved in pulling them. — Michael Cisco

I am worried that the collapse of home prices might turn out to be the most severe since the Great Depression. — Robert J. Shiller

For the immediate future, at least, the outlook (stocks) is bright. — Irving Fisher

The vision of this massive body of water with towering monoliths jutting straight upward to the heavens, stole our ability to think.Colors that made the wildflowers look dull, streaked up and down across the great pillars of hardened rock. The clouds and sky were mirrored in the glassy surface of the deep expanse of lake. — Danielle Rohr

We have hit bottom and are on the upswing. — James J. Davis

At a time when going to college has never been more important, it's never been more expensive, and our nation's families haven't been in this kind of financial duress since the great depression. And so what we have is just sort of a miraculous opportunity simply by stopping the subsidy to banks when we already have the risk of loans. We can plow those savings into our students. And we can make college dramatically more affordable, tens of billions of dollars over the next decade. — Arne Duncan

By the end of his presidency - and the sixteen-year run of Dixie dominance in Washington - income inequality and the concentration of wealth in the federation had reached the highest levels in its history, exceeding even the Gilded Age and Great Depression. In 2007 the richest tenth of Americans accounted for half of all income, while the richest 1 percent had seen their share nearly triple since 1994.8 — Colin Woodard

Helping people better manage their upsetting feelings - anger, anxiety, depression, pessimism, and loneliness - is a form of disease prevention. Since the data show that the toxicity of these emotions, when chronic, is on a par with smoking cigarettes, helping people handle them better could potentially have a medical payoff as great as getting heavy smokers to quit. — Daniel Goleman

Years later, when I got to college, I learned about an important theory of psychology called Learned Helplessness, developed by Dr. Martin E. P. Seligman. This theory, backed up by years of research, is that a great deal of depression grows out of a feeling of helplessness: the feeling that you cannot control your environment. — Frederick P. Brooks Jr.

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. — Bill O'Reilly

At the top of the page I wrote my full name [ ... ] At the sight of it, many thoughts rushed through me, but I could write down only this: "I wish I could love someone so much that I would die from it." And then as I looked at this sentence a great deal of shame came over me and I wept and wept so much that the tears fell on the page and caused all the words to become one great big blur. — Jamaica Kincaid

In his second Inaugural Address, on March 5, 1821, Monroe admitted at last to a general depression of prices, but only as a means of explaining the great decline in the federal revenue. Despite this, he asserted that the situation of America presented a 'gratifying spectacle.' — Murray Rothbard

When I was in high school, I used to have breakfast with my grandpa every morning. He instilled a lot of values in me: hard work, loyalty. He grew up during the Great Depression in Philly in poverty - he didn't have enough to eat as a kid. Sometimes his family would get kicked out of their apartment because they couldn't pay the rent. — Matthew Quick

Jesse Owen was bigger than a black hero, he was an American hero. For me, I looked at it from that perspective. Through my research, I obviously learned a lot, much of which made me sad, upset, disappointed and even angry, regarding what Jesse had to go through. Not only was he a black man in America during an age of high racial tension and segregation, but he was also living in the middle of the Great Depression - it was very difficult times for him and his family. — Stephan James

I felt a great depression, probably because I never believed that anything would continue, would hold. I never thought my advance would maintain its ground. I always thought there would be a collapse immediately after the advance. — Tennessee Williams

The human animal needs meaning as well as food and air and sex and water. The sense that life is meaningless is at the root of a great deal of depression, aggression, and addiction, which can only be addressed by a restoration of the sense that life is meaning-full. — Robert Moss

I'm not sure whether I've been happy. After my last book tour, I sat on my balcony with a cup of tea. I thought: 'You can't rewind the movie. I've spent more than half my life in the Middle East. There have been great moments of horror and depression and loneliness.' — Robert Fisk

We had the great depression, we had two world wars, we had the flu epidemic. We had oil shock. We had all these terrible things happen. But something about the American system unleashed more and of a potential to human beings over that hundred years so that we had a seven for one improvement in - there's never been any - I mean, you have centuries where if you've got a 1 percent improvement, then it's something. So we've got a great system. And we've got more productive capacity now than we ever have. — Howard Warren Buffett

The greatest and the best Christians when they are physically weak are more prone to an attack of spiritual depression than at any other time and there are great illustrations of this in the Scriptures. — Martyn Llyod-Jones

In the large sense the primary cause of the Great Depression was the war of 1914-1918. Without the war there would have been no depression of such dimensions. There might have been a normal cyclical recession; but, with the usual timing, even that readjustment probably would not have taken place at that particular period, nor would it have been a Great Depression. — Herbert Hoover

Burlesque thrived during the Great Depression, and by extension, so, too, did Gypsy [Rose Lee]. Men could no longer afford to pay $5.50 to see a show on Broadway, but they could scrape together $1.00 for a matinee at a burlesque house. — Karen Abbott

African Americans had been compelled to work in Alabama mines prior to the Great Depression. His grandfather, once a coal miner himself, had told him stories of a similar burial field near the family home place south of Birmingham. — Douglas A. Blackmon

Until the Great Depression, most economists clung to a vision of capitalism as a perfect or nearly perfect system. That vision wasn't sustainable in the face of mass unemployment, but as memories of the Depression faded, economists fell back in love with the old, idealized vision of an economy in which rational individuals interact in perfect markets. — Paul Krugman

I think that when you look at the great politicians, the two greatest in my view were George Washington and Abraham Lincoln, they certainly had character traits. You also know Abraham Lincoln overcame severe depression problems that he had when he was younger, which gave him the strength and the character later on. — John McCain

But despite historic levels of obstruction, President Obama was able to bring the economy back from the verge of a second Great Depression. — Steny Hoyer

To fit the individual to live and to function in the institutional life of his day. — Max Braithwaite

The most striking development of the great depression of 1929 is a profound skepticism of the future of contemporary society among large sections of the American people. — C.L.R. James

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. — Ron Paul

The fear among economists across the political spectrum was that we were rapidly plummeting toward a second Great Depression. So in the weeks and months that followed, we undertook a series of difficult steps to prevent that outcome. And we were forced to take those steps, largely without the help of an opposition party, which, unfortunately, after having presided over the decision-making that had led to the crisis, decided to hand it over to others to solve. — Barack Obama

I think there is universal agreement within the economics profession that the decline - the sharp decline in the quantity of money played a very major role in producing the Great Depression. — Milton Friedman

The current moral decay perceived in society has often been blamed on the lack of God in the public schools. During the Great Depression God was prominent in the schools, hence She must have caused the depression. Challenge my logic. — Eric Welch

In 1928, the top 10 percent of earners captured 46 percent of national income. That was the highest share that the top tenth captured for nearly eighty years, until 2007, when we returned to the wealth distribution of the country on the eve of the Great Depression. The top 1 percent did even better. Between 1979 and 2007, nearly 88 percent of the entire economy's income gains went to the top 1 percent.49 One — Christopher L. Hayes

She wondered what it was about storytelling that made people want it almost as much as food and water, even more so in bad times than good. Movies had never drawn more patrons than during the Great Depression. Book sales often improved in a recession. The need went beyond a mere desire for entertainment and distraction from one's troubles. It was more profound and mysterious than that. — Dean Koontz

I believe that one of the great problems for us as individuals is the depression and the tension resulting from existence in a world which is increasingly less pleasing to the eye. — Lady Bird Johnson

Indeed, the FHA was born out of the Great Depression, which was also caused in significant part by a foreclosure crisis. Mortgages in the early 1930s were mostly three- to five-year 'bullet' loans, which did not amortize and were due in full at maturity. — Mark Zandi

This crisis of long-term unemployment is having a profoundly damaging impact on the lives of those bearing the brunt of it. We know this thanks to a series of careful studies of the problem conducted in the depths of the 1930s Great Depression. — Barry Eichengreen

We were growing up in West Virginia. Everybody was poor there in the southern part of the state. It was like growing up in the Great Depression from the stories I hear people tell. Everybody was poor and so we didn't know that we were any different from anybody else. — James Green Somerville

The world is full of folly and confusion, the lack of freedom has deep roots, the hope for justice and equality is dwindling, the odds against us are too great, it seems. We should be glad to be as well off as we are, people say, most people are worse off. Then they take a pill for insomnia. Or depression. Or life. When will a new generation come, one that understands the importance of equality, a generation of gardeners and foresters who can fell the big trees that block the light for all the lesser ones, and who can remove the suckers from the tree of knowledge. — Kjell Askildsen

America had been a boom-and-bust economy going into the Great Depression - just over and over and over, fortunes were wiped out, ordinary families were crushed under it. — Elizabeth Warren

The Government's business is in sound condition. — Andrew Mellon

One intriguing subplot of the economic crisis is the failure of most economists to predict it. Here we have the most spectacular economic and financial crisis in decades - possibly since the Great Depression - and the one group that spends most of its waking hours analyzing the economy basically missed it. — Robert J. Samuelson

The downturn following the collapse of Japan's so-called bubble economy of the 1980s was not as severe as the Great Depression. — Ben Bernanke

But when he heard news of her engagement to another man, Nathaniel was cast utterly adrift. Sinking deeper and deeper into a violent depression, he'd come up with a list of three possible plans over several jugs of ale at the local tavern.

One. Kill W. Shaw.
Two. Kidnap D. Makepiece (until she concedes her mistake).
Three. Kill W. Shaw.

He was never a very great schemer. — Jayne Fresina

The year of my birth, 1940, was the fulcrum of America in the twentieth century, when the nation was balanced precariously between the darkness of the Great Depression on one side and the storms of war in Europe and the Pacific on the other. — Tom Brokaw

Victimhood and a 'can't do' spirit is what the Democratic Party has mostly been about since the Great Depression. — Cal Thomas

You have been disappointed,you have undergone defeat during the depression, you have felt the great heart within you crushed until it bled. Take courage, for these experiences have tempered the spiritual metal of which you are made- they are assets of incomparable value. — Napoleon Hill

I never thought getting older would be so great. But when it comes to depression, I have experienced less the older I've gotten. — Amy Grant

This kind of inequality - a level we haven't seen since the Great Depression - hurts us all. When middle-class families can no longer afford to buy the goods and services that businesses are selling, it drags down the entire economy, from top to bottom. America was built on the idea of broad-based prosperity - that's why a CEO like Henry Ford made it his mission to pay his workers enough so that they could buy the cars they made. It's also why a recent study showed that countries with less inequality tend to have stronger and steadier economic growth over the long run. — Barack Obama

When someone takes their existing business and tries to transform it into something else - they fail. In technology that is often the case. Look at Kodak: it was the dominant imaging company in the world. They did fabulously during the great depression, but then wiped out the shareholders because of technological change. — Charlie Munger

In Chicago [during the Great Depression], a crowd of some fifty hungry men fought over barrel of garbage set outside the back door of restaurant — William E. Leuchtenburg

I didn't know I was depressed until years later. Actually, I went to the Minirth-Meier Clinic for ADD. I got tested for ADD. So, that's nice. It's nice to know you got ADD. So, that puts you on medication. Did that for years. Then got tested for clinical depression. So, finally when they tell you this, you go, 'ahhh, this is great.' So, now this explains events in your life and how you handle them. But our society frowns on it and they don't want their heroes to have these issues, but unfortunately I do. — Terry Bradshaw