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If Wall Street crashes, does Main Street follow? Not necessarily.

Ben Bernanke

Importantly, in the 1930s, in the Great Depression, the Federal Reserve, despite its mandate, was quite passive and, as a result, financial crisis became very severe, lasted essentially from 1929 to 1933.
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Depression Financial Great Result
A gold standard doesn’t imply stability in the prices of the goods and services that people buy every day, it implies a stability in the price of gold itself.
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Gold People Standard
The economist John Maynard Keynes said that in the long run, we are all dead. If he were around today he might say that, in the long run, we are all on Social Security and Medicare.
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Long might Running
If Wall Street crashes, does Main Street follow? Not necessarily.
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Crash Doe Wall
The financial crisis appears to be mostly behind us, and the economy seems to have stabilized and is expanding again.
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Economy Expanding Financial
A collapse in U.S. stock prices certainly would cause a lot of white knuckles on Wall Street. But what effect would it have on the broader U.S. economy? If Wall Street crashes, does Main Street follow? Not necessarily.
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Country Stock Street Wall White
Life is amazingly unpredictable; any 22-year-old who thinks they know where they will be in 10 years, much less in 30, is simply lacking imagination.
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Imagination Thinking Years
Education – lifelong education for everyone – from toddlers to workers well advanced in their careers – is indeed an excellent investment for individuals and society as a whole.
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Career Education Money
While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.
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Delinquency Rising Years
The people who best use their advantages, or overcome adversity, and work honestly are those most worthy of admiration.
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Adversity People Use
Over the years, the U.S. economy has shown a remarkable ability to absorb shocks of all kinds, to recover, and to continue to grow.
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Kind Success Years
Our mission, as set forth by the Congress is a critical one: to preserve price stability, to foster maximum sustainable growth in output and employment, and to promote a stable and efficient financial system that serves all Americans well and fairly.
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Employment Financial Growth
Nobody really understands gold prices and I don’t pretend to understand them either.
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Gold Gold Price
Economics is a very difficult subject. I’ve compared it to trying to learn how to repair a car when the engine is running.
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Car Running Trying
House prices have risen by nearly 25 percent over the past two years. Although speculative activity has increased in some areas, at a national level these price increases largely reflect strong economic fundamentals.
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Fundamental Past Strong Years
I am confident that we will meet whatever challenges the future may bring.
BEN BERNANKE

Challenges Confident May Meet

If Wall Street crashes, does Main Street follow? Not necessarily.

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If Wall Street crashes, does Main Street follow? Not necessarily.

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