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It took capitalism half a century to come back from the Great Depression.

The left-wing agenda wants us to think that the reason there was a depression was because the government didn't do anything. That's not true.

As far as I was concerned, the Depression was an ill wind that blew some good. If it hadn't occurred, my parents would have given me my college education. As it was, I had to scrabble for it.

Understanding the true causes of the Depression, as well as the real economic record of the United States in the 1930s, is an essential ingredient in anyone's economic and historical education.

To my mind, the main reason for the Depression in the United States as a whole, is the bondage of debt and the spirit of speculation among the people.

We certainly had an upheaval at the start of the Great Depression, and that resulted in a lot of financial reform, but it wasn't done in one stroke, and it wasn't done immediately. The Depression was in 1929 and resulted in the Securities and Exchange Act of '33, '34, '35, '37, '39, and '41.

It was a lack of system that made the '30s Depression as inevitable as all others previously suffered.

The Great War proved how confused the world is. Depression is proving it again.

But if, if you take a look at what would have happened, I mean, do we need to see soup lines down the street to figure out what would have happened? We avoided - and all economists will tell you that millions of jobs were saved because of the Recovery Act, and we avoided a second Great Depression. That, that is a reality.