"We will not have any more crashes in our time."  -  John Maynard Keynes, 1927

''We've never had a decline in housing prices on a nationwide basis.''  -  Ben Bernanke, 2005

"Stock prices have reached what looks like a permanently high plateau."  -  Irving Fisher, Yale Ph.D. in economics, Oct. 17, 1929

"There was never a bubble, so there is nothing to burst."  -  Jeromith Sutton, 2006, NAR Investment Advisor

"I am convinced that through these measures we have reestablished confidence."  -  Herbert Hoover, December 1929

"I've abandoned free-market principles to save the free-market system"  -  George W. Bush, 2008

“The report confirms that our plan will likely save or create 3 to 4 million jobs”  -  Barack Obama, 2009

"Gentleman, you have come sixty days too late. The depression is over."  -  Herbert Hoover, 1930

"...there are indications that the severest phase of the recession is over..."  -  Harvard Economic Society (HES) Jan 18, 1930

Our approximate present location within the Depression

"We are now near the end of the declining phase of the depression."  -  HES Nov 15, 1930

"Stabilization at [present] levels is clearly possible."  -  HES Oct 31, 1931

"The country needs and, unless I mistake its temper, the country demands bold, persistent experimentation.  It is common sense to take a method and try it: If it fails, admit it frankly and try another.  But above all, try something."  -  Franklin D. Roosevelt, 1932

"We shall tax and tax, and spend and spend, and elect and elect."  -  FDR aide Harry Hopkins, 1933

“If all employers in each competitive group agree to pay their workers the same wages... and require the same hours... then higher wages and shorter hours will hurt no employer.  Moreover, such action is better for the employer than unemployment and low wages, because it makes more buyers for his product.”  -  President Roosevelt, 1933, Explaining the National Industrial Recovery Act (NIRA)

"The National Industrial Recovery Act (NIRA) in June 1933 forced manufacturing industries into government mandated cartels and empowered a massive federal bureaucracy to dictate production and pricing standards covering two million employers and 22 million workers.  The Supreme Court eventually ruled the act unconstitutional, but the damage had been done.  Industrial production dropped 25% in the six months after the law had passed."  -  Mark Levin, 2009

"The New Deal is plainly an attempt to achieve a working socialism and avert a social collapse in America; it is extraordinarily parallel to the successive 'policies' and 'Plans' of the Russian experiment.  Americans shirk the word 'socialism', but what else can one call it?"  -  H. G. Wells

"All safe deposit boxes in banks or financial institutions have been sealed... and may only be opened in the presence of an agent of the I.R.S."  -  President F.D. Roosevelt, 1933

“We have tried spending money…  We are spending more than we have ever spent before and it does not work…  After eight years of this Administration we have just as much unemployment as when we started.”  -  Henry Morgenthau, Jr., FDR’s Treasury Secretary, 1939