Paul Craig Roberts Quotes

America's in deep trouble. We don't know what we're doing when it comes to devaluations and all of these countries all over the world, especially China. They're the best, the best ever at it. What they're doing to us is a very, very sad thing.

Institutions of the newer participants in global finance had not been tested, until recently...recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.

We are taking a greater chance of having another crash at a time when the world is less capable of bearing the cost.

The world economy today is recovering slowly, and there are still some destabilising factors and uncertainties. The underlying impact of the international financial crisis is far from over.

The IMF is set up to deal with liquidity crises.

In the Imperialist Era, the foreign loan played an outstanding part as a means for young capitalist countries to acquire independence.

It's not a small thing, it's a pandemic, but economically we should not be in this position that we are this fragile as an industry. We don't go racing for three months and we are on the verge of collapsing, which is amazing.

Insanity has infected all the central banks of the world.

When America's creditors consider our behavior they see total fiscal irresponsibility. They see a deluded country that acts as if it is a privilege for foreigners to lend to it, and a deluded country that believes that foreigners will continue to accumulate US debt until the end of time. The fact of the matter is that the US is bankrupt.

The great free nations of the world must take control of our monetary problems if these problems are not to take control of us.

Electrical fire and the fire of greed kindle economies. In that flux, nations become digitized commodities on stock-exchange floors and on investors' rating screens. A country becomes a product to be rated for its obedience to paying of deficits and debts.

The economic position is only flourishing on the surface. Germany is in fact dancing on a volcano. If the short-term credits are called in, a large section of our economy would collapse.

The monetary policies of the US will destroy the world.

We should not be borrowing money from the Chinese to bail out the Greeks. What's coming next? Intergalactic bailouts?

There's nothing crazy about not letting our companies bring their money back into their country.

At times like the present, when the evils of unsound finance threaten us, the speculator may anticipate a harvest gathered from the misfortune of others, the capitalist may protect himself by hoarding or may even find profit in the fluctuations of values; but the wage earner - the first to be injured by a depreciated currency and the last to receive the benefit of its correction - is practically defenseless.

Private fortunes, in the present state of our circulation, are at the mercy of those self-created money lenders, and are prostrated by the floods of nominal money with which their avarice deluges us.

There is not a single country in the world that is not interested in doing business with China. And no one is seriously concerned about human rights. But Africans are criticized for wanting to do business with China.

You figure out, what is the crucial issue facing the country right now? And for Trump, it was that the global economy and the international world order were failing regular people.

The global economy is a doomsday machine that must be stopped and reprogrammed.

I do wish that the IMF and the World Bank would disappear soon.

Sometimes it takes a crisis for people to agree that what is obvious and should have been done years ago, can no longer be postponed. We must create a new international financial architecture for the global age.

After the economic 9/11, we will face a new world order.

Exporters monitor economic and political policies to the developing world, but the consequences of that have been to make developing countries far more sensitive to the constant fluctuations. Developing countries are not always allowed to support their farmers in the same way as the U.S. or Europe is. They're not allowed to have tariff barriers. They're forced, more or less, to shrink their social programs. The very poorest people have fewer and fewer entitlements. The consequence of this has been that there's been a chronic increase in the vulnerability of those economies to price shocks.

We've learned our lesson with finance because they made a huge goddamn explosion that almost shut down the world. But the thing I realized is that there might never be an explosion on the scale of the financial crisis happening with big data.