Everything I learned about the Great Depression was from a college textbook.
Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.
How much would you pay to avoid a second Depression?
After the war, Prohibition was passed, and with liquor no longer legally available the nation plunged headlong into the Great Depression.
Bernanke has cultivated this idea that he is a brilliant scholar of The Great Depression, but that’s not true at all.
Victimhood and a 'can't do' spirit is what the Democratic Party has mostly been about since the Great Depression.
Financial storm definitely passed.
Looking to the future I see in the further acceleration of science continuous jobs for our workers. Science will cure unemployment.
September and October of 2008 was the worst financial crisis in global history, including the Great Depression,
The money cost of the reservoir plan literally fades into insignificance when it is compared with the financial burden which the great depression imposed on the nation.
The worst is over without a doubt.
I see no reason why 1931 should not be an extremely good year.
The Government's business is in sound condition.
...housing activity will remain healthy for some time to come.
We are really on track for a soft landing. There are no balloons popping.
FISHER SEES STOCKS PERMANENTLY HIGH
For the immediate future, at least, the outlook (stocks) is bright.
I admire President Obama. He inherited the worst financial crisis since the Great Depression. That was a terrible time for America.
I am convinced that through these measures we have reestablished confidence.
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.
We have had a great depression in agriculture, caused mainly by several seasons of bad harvests, and some of our traders have suffered much from a too rapid extension in prosperous years.
We will not have any more crashes in our time.
Well, I never lived through the Great Depression, sometimes I feel as though I did.
There was something superficial in attributing anything so awful as the Great Depression to anything so insubstantial as speculation in common stocks.
I am worried that the collapse of home prices might turn out to be the most severe since the Great Depression.
I think that when the education system started to be dismantled during the first Great Depression in the 1930s, we didn't recover from that.
The country is not in good condition.
We have the worst revival of an economy since the Great Depression. And believe me: We're in a bubble right now.
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.
The Great Depression was not a sign of the failure of monetary policy or a result of the failure of the market system as was widely interpreted. It was instead a consequence of a very serious government failure, in particular a failure in the monetary authorities to do what they'd initially been set up to do.
The Great Depression in the United States was caused - I won't say caused, was enormously intensified and made far worse than it would have been by bad monetary policy.
The Federal Reserve the privately owned U.S. central bank definitely caused The Great Depression by contracting the amount of currency in circulation by one third from 1929 to 1933.
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.
Our whole Depression was brought on by gambling, not in the stock market alone but in expanding and borrowing and going in debt... all just to make some easy money quick.
It's almost worth the Great Depression to learn how little our big men know.