We were five years into R.E.M., and I was going through profound depression and a nervous breakdown that took a year and a half to work through. We were still touring and making records and marching forward at this insane velocity, which didn’t help my situation at all.
My mother was depressed. She was very sad. She had lost her mother when she was nine. She had really grown up in difficult circumstances. And I felt as a kid growing up there was no greater joy in my life than to sit with my mother — and it gives me chills to think […]
I worry about economists who are so young that they think the Great Depression was ended by Prozac.
Many an attack of depression is nothing but the expression of regret at having to be virtuous.
Your system was liable to periodical convulsions, overwhelming alike the wise and the unwise, the successful cutthroat as well as his victim. I refer to the business crises at intervals of five to ten years, which wrecked the industries of the nation.
Be courageous. I have seen many depressions in business. Always America has emerged from these stronger and more prosperous. Be brave as your fathers before you. Have faith! Go forward!
The Great Depression, like most other periods of severe unemployment, was produced by government mismanagement rather than by any inherent instability of the private economy.
One can relish the varied idiocy of human action during a panic to the full, for, while it is a time of great tragedy, nothing is being lost but money.
The excess credit which the Fed pumped into the economy spilled over into the stock market- triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in braking the boom. But it was too late: by 1929 the speculative imbalances had become so overwhelming that the […]
I aimed at the public’s heart, and by accident I hit it in the stomach. The remedy (for the Great Depression) is to give the workers access to the means of production, and let them produce for themselves, not for others… the American way.