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Photo Essays

The Recession of 1958

Fifty years ago, after 13 years of post-war growth, the U.S. economy hit its first economic downturn since the Depression. In April, 1958, Life Magazine...

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Quotes

March 07, 2012

"People used to worry, 'Is Africa going to be poor forever?' Well, it doesn't really look like it, does it?"

- CHARLES KENNYof the Center for Global Development, on a World Bank report that found that, despite the global recession, extreme poverty rates fell in every developing region between 2005 and 2008
November 29, 2011

"I was the kind of person who put away for a rainy day. It's flooding now."

- DON BUCKLEYan African-American former municipal bus driver. The recession has been singularly harmful to middle-class blacks in terms of layoffs and unemployment, according to economists and recent government data.
July 10, 2008

"You've heard of mental depression; this is a mental recession. We have sort of become a nation of whiners."

- PHIL GRAMM,top economic adviser to John McCain, on complaints about a declining economy

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