Ray Dalio Quotes

You cannot spend your way out of recession or borrow your way out of debt.

You will never solve the American problems just by printing money.

If the program goes off track again due to recession, this should not become a pretext for the imposition of more austerity measures.

One needs a comprehensive concept that decides just how much debt states like Greece, Ireland, Portugal, Spain and Italy can sustainably bear.

The Government has to stop borrowing as much money; if we don't, quite frankly New Zealand will be downgraded and interest rates will go up for all New Zealanders.

We agree with Simpson and Bowles and others who have looked at this. What's necessary is to stabilize the debt and then work from there. You can't balance the budget in the short term because to do that would be to ratchet down the economy.

We cannot cut our way to prosperity.

Making economic policy isn't a popularity contest, especially when financial markets are in a panic.

The emphasis so far on fiscal austerity, while to a degree necessary for the countries facing market funding difficulties, is excessive when carried out across the board.

No amount of debt restructuring, even debt forgiveness, will help the Greeks achieve real prosperity. What they need is not short-term relief but, rather, a long-term cure.

In the '30s, the Keynesian stuff worked at least in the sense that you could print money without inflation because there was all this productivity growth happening. That's not going to work today.

At this time - we're in a dramatic crisis - euro bonds are precisely the wrong answer. They lead us into a debt union, not a stability union. Each country has to take its own steps to reduce its debt.

There is a basic lesson on financial crises that governments tend to wait too long, underestimate the risks, want to do too little. And it ultimately gets away from them, and they end up spending more money, causing much more damage to the economy.

If we don't get a grip on government spending, there will be no growth.

A very difficult year is ahead of us. We must continue our efforts with decisiveness, to stay in the euro, to make sure we do not waste the sacrifices and do not turn the crisis into an uncontrolled and disastrous bankruptcy.

The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.

We will do whatever we could do to keep Greece inside the euro and inside Europe.

Italians have always had a high savings rate. They love putting their money into their own government bonds - even more than in houses, stocks and gold. The higher rates climb, the happier they are to invest. So if austerity plans drive rates up, it's music to Italian ears.

What Africa needs to do is to grow, to grow out of debt.

But despite historic levels of obstruction, President Obama was able to bring the economy back from the verge of a second Great Depression.

We all have our problems and we are working to find a solution to ours and also to help the eurozone. We expect that other countries should do the same, that they be prudent in their statements.

Austerity need not be Europe's fate.

We believe that it is very important that we have hopefully averted what would have been the most substantial headwind of all, which is a default for the first time in our history, and that that will contribute to a more positive environment that we hope will allow for greater growth and job creation.

When you're the president of the United States and you know that the biggest issue facing you is this cliff that we're about ready to head over if we don't get this spending and debt situation under control, it's very irresponsible not to take the action that is necessary to fix the problem.

In the medium and long term. Spain is solvent and able to pay its high debts. In the short-term, we have the capacity to meet our obligations.