Quotes About Great Recession

Over the last decade, economists seemed to share a broad consensus about economic policy, with the old splits between monetarists and Keynesians apparently being settled by events. But the Great Recession of the last two years has changed everything.

This book is about the causes of our stationary state. It is inspired by Smith's insight that both stagnation and growth are in large measure the results of 'laws and institutions'. Its central thesis is that what was true of China in Smith's day is true of large parts of the Western world in our time. It is our laws and institutions that are the problem. The Great Recession is merely a symptom of a more profound Great Degeneration.

the Occupy Movement flared up and began setting up tents in public parks all around the nation, from New York City to Chicago to Seattle. But it actually happened exactly eighty years earlier, when the nation was drowning in President Hoover's Great Depression, and not President Bush's Great Recession. These settlements weren't called "occupations" at the time, they were called "Hoovervilles.

The financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies.

Much of the blame for the Great Recession lies with abuses in the housing market - namely the creation of risky and unsustainable home loans that were packaged and sold as quality investments around the globe.

Believing that a crisis is a useful thing to create, the Obama administration - which understands that, for liberalism, worse is better - has deliberately aggravated the fiscal shambles that the Great Recession accelerated.

The United States faces structural employment problems because of the long-term effects of globalization and technology. This was only exacerbated by the Great Recession.

The 1980s was a time of the great recession of interactive entertainment. When Atari fell in 1982, until Nintendo launched its console, video games were an outcast for five years.

The number of unemployed citizens "without a high school diploma increased by 18.7 percent while the number of unemployed foreign-born persons decreased by 24.8 percent."37 Despite the supposed economic recovery "following the Great Recession, employers continued to favor illegal alien labor despite millions of less-educated Americans who were unemployed.

The FHA's success provides strong evidence that government can and should play a role in the nation's mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it.