23 Quotes About Recession

The crash did not cause the Depression: that was part of a far broader malaise. What it did was expose the weaknesses that underpinned the confidence and optimism of the 1920s - poor distribution of income, a weak banking structure and insufficient regulations, the economy's dependence on new consumer goods, the over-extension of industry and the Government's blind belief that promoting business interests would make America uniformly prosperous. Lucy Moore

This malignant persistence since September 11th is the biggest surprise of all. In previous decades, sneak attacks, stock-market crashes, and other great crises became hinges on which American history swung in dramatically new directions. But events on the same scale, or nearly so, no longer seem to have that power; moneyed interests may have become too entrenched, elites too self-seeking, institutions too feeble, and the public too polarized and passive for the country to be shocked into fundamental change. George Packer

It’s unthinkable, now to live as her parents had done, going to work from nine to five and enjoying the benefits of the newly-formed health and education services. What paradise it had seemed! Now, in order to pay their exorbitant mortgages, and ever more exorbitant fuel prices, British adults have to work long hours — the longest, it is said, in Europe… Everyone they know, everyone they see, is just like them, living in houses like these, reading the same papers, seeing the same films and TV programmes and plays, buying from the same shops and sending their children to the same schools; and they think it will go on for ever, either ever-mounting property prices cushioning them. But it can’t. Amanda Craig

When you need to borrow money the Mob seems like a better deal I think. 'You don't pay me back I break both yer legs.' Is that all? You won't take my house or wreck my credit rating? Fine where do I sign. Legs? Fine. You don't even have to sign anything. Craig Ferguson

What are the odds that people will make smart decisions about money if they don’t need to make smart decisions–if they can get rich making dumb decisions? Unknown

The most empowering thing you can do though is to create innovative ways to bring in livable wages. That begins with a debt free lifestyle. Brandi L. Bates

When water fountains start charging to drink, then you know we have a problem. Anthony Liccione

Recession is when your neighbor loses his job. Depression is when you lose yours. And recovery is when Jimmy Carter loses his. Ronald Reagan

Financial crashes happen precisely because the people who remember the last one have either died or retired and thus are no longer around, with memories and character formed by that previous experience, to warn people not to be irresponsible. N.T. Wright

Only when the tide goes out do you discover who's been swimming naked. Warren Buffett

Millennials: We lost the genetic lottery. We graduated high school into terrorist attacks and wars. We graduated college into a recession and mounds of debt. We will never acquire the financial cushion, employment stability, and material possessions of our parents. We are often more educated, experienced, informed, and digitally fluent than prior generations, yet are constantly haunted by the trauma of coming of age during the detonation of the societal structure we were born into. But perhaps we are overlooking the silver lining. We will have less money to buy the material possessions that entrap us. We will have more compassion and empathy because our struggles have taught us that even the most privileged can fall from grace. We will have the courage to pursue our dreams because we have absolutely nothing to lose. We will experience the world through backpacking, couch surfing, and carrying on interesting conversations with adventurers in hostels because our bank accounts can't supply the Americanized resorts. Our hardships will obligate us to develop spiritual and intellectual substance. Maybe having roommates and buying our clothes at thrift stores isn't so horrible as long as we are making a point to pursue genuine happiness. Maggie Georgiana Young

He’s always complaining about the fucking recession and how the government is working against people like him. He calls himself working class, which I think is a bit ironic since he doesn’t work. Unknown

If one sentence were to sum up the mechanism driving the Great Stagnation, it is this: Recent and current innovation is more geared to private goods than to public goods. That simple observation ties together the three major macroeconomic events of our time: growing income inequality, stagnant median income, and the financial crisis. Tyler Cowen

The one plentiful herds of magazine writers would continue to be culled - by the Internet, by the recession, by the American public, who would rather watch TV or play video games or electronically inform friends that, like, 'rain sucks! ' But there's no app for a bourbon buzz on a warm day in a cool, dark bar. The world will always want a drink. Gillian Flynn

Once you realize that trickle-down economics does not work, you will see the excessive tax cuts for the rich as what they are -- a simple upward redistribution of income, rather than a way to make all of us richer, as we were told. HaJoon Chang

Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending Nassim Nicholas Taleb

Economic crises breed war. Alex Callinicos

America isn't breaking apart at the seams. The American dream isn't dying. Our new racial and ethnic complexion hasn't triggered massive outbreaks of intolerance. Our generations aren't at each other's throats. They're living more interdependently than at any time in recent memory, because that turns out to be a good coping strategy in hard times. Our nation faces huge challenges, no doubt. So do the rest of the world's aging economic powers. If you had to pick a nation with the right stuff to ride out the coming demographic storm, you'd be crazy not to choose America, warts and all. Pew Research Center

You know what? We need a recession in this country, because that would finaly weed out al the subnormal, underdeveloped, stupefied, puerile people in this workforce. Jen Lancaster

This crisis is not simply a more severe version of the usual business cycle recession, the typical downturn in which economies ultimately adjust and stabilize. Timothy Geithner