During late Autumn 1956, in connection with a marketing study, I forecast the imminence of a major U. S. economic recession, triggered by the over-stretching of a post-1954 credit-bubble centered in financing of automobiles, housing, and analogous consumer goods. This recession broke out in February 1957 statistics, and was generally, if reluctantly acknowledged to have occurred several months later. The recession-spiral lasted into mid-1958, and was followed by a prolonged stagnation until an upturn appeared under the Kennedy administration.
Lyndon LaRoucheRelated topics
administration autumn broke connection consumer february goods housing late later recession stagnation statistics study under Kennedy financing monthsRelated quotes
About mid-day, Kesselring telephones me and tells me that we shall probably have to wait three or four days before our large-scale counter-measures begin to get under way. Until then there can be no major shift of developments in our favour. Kesselring is nevertheless in good heart. He is assured and full of character in his estimate of the situation and there is not a trace of defeatism with him. He tells me also that the attitude of the civil population has somewhat improved under the influence of our propaganda.
Albert Kesselring
As the people are the only legitimate fountain of power, and it is from them that the constitutional charter, under which the several branches of government hold their power, is derived, it seems strictly consonant to the republican theory, to recur to the same original authority, not only whenever it may be necessary to enlarge, diminish, or new-model the powers of the government, but also whenever any one of the departments may commit encroachments on the chartered authorities of the others.
James Madison
Some wonder why I have such a feeling of concern over the imposition of the death penalty. I ask those who wonder how would you feel if you defended a man charged with murder, who was as innocent as any hon. member in this House at this very moment, who was convicted; whose appeal was dismissed, who was executed; and six months later the star witness for the Crown admitted that he, himself, had committed the murder and blamed it on the accused? That experience will never be effaced from my memory.
John Diefenbaker
You cannot do anything without rousing the masses to action. A plenary meeting of the Soviet must be called to decide on mass searches in Petrograd and the goods stations. To carry out these searches, each factory and company must form contingents, not on a voluntary basis: it must be the duty of everyone to take part in these searches under the threat of being deprived of his bread card. We can't expect to get anywhere unless we resort to terrorism: speculators must be shot on the spot. Moreover, bandits must be dealt with just as resolutely: they must be shot on the spot.
Vladimir Lenin
Even if the constants which economists wish to determine were less numerous, and the method of experiment more accessible, we should still be faced with the fact that the constants themselves are different at different times. The gravitation constant is the same always. But the economic constants-these elasticities of demand and supply-depending, as they do, upon human consciousness, are liable to vary. The constitution of the atom, as it were, and not merely its position, changes under the influence of environment.
Arthur Cecil Pigou