Recession Quotes - page 4
By historical standards and given the gloomy corporate profits outlook in an environment of high corporate debt and rising interest rates, the Dow Jones Industrial Average is considerably overvalued at late-2006 levels and should be avoided. I say that, even setting aside the imminent prospect of a collapsed dollar and the recession and hyperinflation that would accompany it.
Peter Schiff
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 LaRouche
Let's stop for a second and remember where we were eight years ago. We had the worst financial crisis, the Great Recession, the worst since the 1930s. That was in large part because of tax policies that slashed taxes on the wealthy, failed to invest in the middle class, took their eyes off of Wall Street, and created a perfect storm. In fact, Donald was one of the people who rooted for the housing crisis. He said, back in 2006, "Gee, I hope it does collapse, because then I can go in and buy some and make some money." Well, it did collapse.... We have come back from that abyss. And it has not been easy. So we're now on the precipice of having a potentially much better economy, but the last thing we need to do is to go back to the policies that failed us in the first place.
Hillary Clinton
If I had told you eight years ago that America would reverse a great recession, reboot our auto industry, and unleash the longest stretch of job creation in our history . . . open up a new chapter with the Cuban people, shut down Iran's nuclear weapons program without firing a shot, take out the mastermind of 9/11 . . . win marriage equality, and secure the right to health insurance for another 20 million of our fellow citizens . . . you might have said our sights were set a little too high. But that's what we did. That's what you did.
Barack Obama
A lot has happened over the years. And while this nation has been tested by war, and it's been tested by recession and all manner of challenges - I stand before you again tonight, after almost two terms as your president, to tell you I am more optimistic about the future of America than ever before.
Barack Obama
We used to think that you could spend your way out of a recession and increase employment by cutting taxes and boosting government spending. I tell you in all candour that that option no longer exists, and in so far as it ever did exist, it only worked on each occasion since the war by injecting a bigger dose of inflation into the economy, followed by a higher level of unemployment as the next step. Higher inflation followed by higher unemployment. We have just escaped from the highest rate of inflation this country has known; we have not yet escaped from the consequences: high unemployment. That is the history of the last twenty years.
James Callaghan
When I announced in April of 1961 that this kind of comprehensive tax reform would follow the bill enacted this year, I had hoped to present it in an atmosphere of a balanced budget. But it has been necessary to augment sharply our nuclear and conventional forces, to step up our efforts in space, to meet the increased cost of servicing the national debt and meeting our obligations, established by law, to veterans. These expenditure increases, let me stress, constitute practically all of the increases which have occurred under this administration, the remainder having gone to fight the recession we found in industry--mostly through the supplemental employment bill-and in agriculture. We shall, therefore, neither postpone our tax cut plans nor cut into essential national security programs. This administration is determined to protect America's security and survival and we are also determined to step up its economic growth. I think we must do both.
John F. Kennedy
So that as I tried to say in my speech, we are not faced with the question of balancing our budget, or having a tax reduction. I believe we are faced with the fact that we are going to have a deficit mostly because of the sharp rise in the recent years in space and defense, and to increase our taxes sufficient to bring that budget into balance would be defeating, because of course it would provide a heavy deflationary effect on our economy, and move us into a recession at an accelerated rate.
John F. Kennedy
There is an island fantasy a 'Someday Ill.' Well never see when recession stops, inflation ceases. Our mortgage is paid, our pay increases. That Someday Ill where problems end. Where every piece of mail is from a friend. Where the children are sweet and already grown... Most unhappy people... put happiness on 'lay away.' And struggle through a blue today... Lifes most important revelation Is that the journey means more than the destination.
Denis Waitley
This sensitivity to the phenomena of recession and inflation is a symptom of an increased public awareness of both the need for and the attainability of economic progress. It is precisely because so much of current industrial and governmental practice can be better in the future that our meetings this year are focused on the broad problem of improving the performance of the American economy. However, as we go about the task of appraisal and criticism, it will be well to discipline our impatience for reform. In the measure that we avoid exaggerating our nation's failures or understating its successes, we shall make it easier for ourselves as well as for economists in other countries to see current needs and developments in a just perspective.
Arthur F. Burns
It was early 1932, when Einstein and I both were at the California Institute of Technology in Pasedena, and we just decided to look for a simple relativistic model that agreed reasonably well with the known observational data, namely, the Hubble recession rate and the mean density of matter in the universe. So we took the space curvature to be zero and also the cosmological constant and the pressure term to be zero, and then it follows straightforwardly that the density is proportional to the square of the Hubble constant. It gives a value for the density that is high, but not impossibly high. That's about all there was to it. It was not an important paper, although Einstein apparently thought that it was. He was pleased to have a simple model with no cosmological constant. That's it.
Willem de Sitter