Because of the bold, swift, and coordinated action we took, we can stand here today and say we prevented another depression.
From the moment we first took action to prevent another depression, we knew the road to recovery would not be easy.
This would take years to play out, and could cause another depression.
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It is easy to begin fearing that not only will this be the worst recession since the Great Depression, it may be another depression.
One of the fallcies of the 1930s securities laws is that the public believed that we had a regulatory framework in place that would prevent another Depression.
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She is confident we haven't hit another Depression and that we've learned enough lessons from the past to avoid letting things get as bad as they were before.
CNN: Great Depression holds lessons for surviving tough economy
And economists from across the political spectrum warned that if dramatic action was not taken to break the back of the recession, the United States could spiral into another depression.
All that huge amount of government borrowing to pay for the war stopping, there should have been a plunge in aggregate demand and thus something between a recession and another Depression.
Over the past two years, those of us in the G20 have worked together to rescue the global economy, to avert another depression, and to put us on the path to recovery.
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"I think that the money they just passed in Congress is just postponing what's going to happen in the future, which I think is going to be another Depression, " said resident Mike Milburn.
S. would slip back into another depression.
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And because we did, we can stand here just over a year later, and say that we prevented another depression, we broke the back of the recession, and the economy that was shrinking a year ago is growing today.
So both the Bush and Obama administrations determined that whatever it took in the way of stimulus and government spending to try to rescue the economy from another Depression would be better than the alternative if efforts were insufficient.
It will either get what it wants (an increase in the EFSF used to recapitalize the banks and help the ECB buy bonds of weak European countries), or as Soros so succinctly puts it, we are headed for another depression.
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Are we headed for another depression?
FORBES: George Soros Thinks We're Headed Towards Another Depression
But if Milton Friedman and Anna Schwartz were right in their insistence that it was actually the Federal Reserve that caused the Great Depression (which is something that Ben Bernanke himself has insisted that the Fed will not repeat) then one way of interpreting what has happened is that the European Central Bank has just set us all up for another Depression.
Economists across the spectrum were warning very seriously of the possibility of another Great Depression.
And a lot of folks wondered whether we were heading for another Great Depression.
And a lot of folks were wondering whether we were headed for another Great Depression.
And a lot of folks wondered whether we were headed for another Great Depression.
George Soros penned an article this morning that he thinks we are headed towards another Great Depression.
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Consumption may also prove less important to the recovery than asserted in the warnings of another Great Depression.
The New York Times and others were making it sound like we were falling into another Great Depression.
Eight hundred thousand jobs, and a lot of folks were wondering whether we were headed for another Great Depression.
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It was widely expected the 2001 recession would plunge further into another Great Depression, and the Dow would collapse to 1, 000.
One camp thinks the financial and economic crises are so deeply rooted they will inevitably lead to another Great Depression purge.
Nobody's worrying about another Great Depression like they were just a year ago, and the worst of the storm has passed.
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And this economy was losing 800, 000 jobs every single month, and folks wondered whether we were headed for another Great Depression.
WHITEHOUSE: Remarks by the First Lady at a Campaign Event -- Seattle, WA
The economy was losing 800, 000 jobs every month and a lot of folks wondered whether we were headed for another Great Depression.
This economy was losing 800, 000 jobs a month, and a lot of people wondered whether we were heading for another Great Depression.
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