#recession

Whenever a state or an individual cited 'insufficient funds' as an excuse for neglecting this important thing or that, it was indicative of the extent to which reality had been distorted by the abstract lens of wealth. During periods of so-called economic depression, for example, societies suffered for want of all manner of essential goods, yet investigation almost invariably disclosed that there were plenty of goods available. Plenty of coal in the ground, corn in the fields, wool on the sheep. What was missing was not materials but an abstract unit of measurement called 'money.' It was akin to a starving woman with a sweet tooth lamenting that she couldn't bake a cake because she didn't have any ounces. She had butter, flour, eggs, milk, and sugar, she just didn't have any ounces, any pinches, any pints. The loony legacy of money was that the arithmetic by which things were measured had become more valuable than the things themselves. ↗

— Tom Robbins

#economic-depression #money #recessions #wealth #money

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

#credit #mob #money #real-estate #recession

In the middle of a recession, where we're just climbing out of it, where the economy -unemployment is still at 9.7 percent, the idea of raising taxes and reducing spending is a prescription for disaster. ↗

— Joe Biden

#disaster #economy #idea #just #middle

In the 20th century, the United States endured two world wars and other traumatic and expensive military conflicts; the Depression; a dozen or so recessions and financial panics; oil shocks; a flu epidemic; and the resignation of a disgraced president. Yet the Dow rose from 66 to 11,497. ↗

— Warren Buffett

#century #conflicts #depression #disgraced #dozen

The existence of an area of free land, its continuous recession, and the advance of American settlement, explain American development. ↗

— Frederick Jackson Turner

#american #area #continuous #development #existence

Hope sustains life, but misplaced hope prolongs recessions. ↗

— James Grant

#life #misplaced #prolongs #recessions #sustains

Folks in the bottom half of the economy are already squeezed hard. They will be bloodied and bankrupt if economic policy inadvertently induces a recession. ↗

— William Greider

#bankrupt #bottom #economic #economic policy #economy

I think the ethos for Gov. Romney is to use a whole variety of policies, of which tax policy is one, to try to raise the rate of growth. We've had a recovery from the financial crisis that would be well below what one might normally expect for a recovery from such a deep recession. And to counteract that we need better tax policy. ↗

— Glenn Hubbard

#better #counteract #crisis #deep #ethos

In the immediate postwar years, the whole of Europe was in a recession. So first of all, it helped us step out of a recession; it gave a certain amount of speed to the economy. But that was the first step. ↗

— Giovanni Agnelli

#certain #economy #europe #first #first of all

We're still in a recession. We're not gonna be out of it for a while, but we will get out. ↗

— Warren Buffett

#gonna #out #recession #still #while