Ray Dalio Quotes

I worry about another leg down in the economies causing social disruption because deleveragings can be very painful - it depends on how they're managed.

I think that this is the most significant financial crisis in the post-War period for the United States, and it has in fact a global reach.... I think it is extraordinarily important to understand that, as we have seen in many previous examples of different countries and different times, choking up of credit is like taking the lifeblood away from the economy.

The stress on the financial system in the fall of 2007 was significant, but not so significant as to threaten the overall stability of the U.S. economy, although it did lead to the beginning of a recession at the end of 2007.

Should that worse scenario materialize, then most probably our propensity to increase interest rates will be weaker.

How much would you pay to avoid a second Depression?

If the fiscal cliff occurs, I don't think the Federal Reserve has the tools to offset that event.

I have 13 bankers in my office, and they say that if you go forward with this you will cause the worst financial crisis since World War II.

During an economic crisis, what matters is that the government keeps its foot on the accelerator.

Fiscal crises often turn into financial crises, dealing a blow to the real economy.

Deflation can be particularly dangerous when a financial system is shaky, with household and corporate balance sheets in poor shape and banks undercapitalized and heavily burdened with bad loans.

Total borrowing has imploded. Private borrowing has collapsed. And, in effect, the Treasury Department is the last borrower left standing.

This economy is on life support.

The United States is much further along because its financial crisis struck three years before Europe's, in 2008, causing headwinds that have pressured it ever since.

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

The 2008 economic crisis and Great Recession forced widespread restructuring throughout the U.S. economy - not unlike a company gritting its teeth through a lifesaving bankruptcy.

The reality for us in America is that we will never get out of debt with more than 15 million people out of work.

I think we're going to have some difficulty in front of us. I have absolutely no doubt the next three, four years Europe are going to be at best stagnation. We are preparing for tough times.

What we know about the global financial crisis is that we don't know very much.

Even if consumer confidence hit rock bottom, that most likely would not be enough, by itself, to cause a depression.

The financial crisis that began in the summer of 2007 was an extraordinarily complex event with multiple causes.

Europe is on an economic collision course with reality.

I don't think it's the end of the world even if we have a recession. We'll pull back out of it again. No big deal.

The bankers of the country are more to blame than are any other group for the present depression.

We used to think that we could spend our way out of a recession…. I tell you in all candor that that opinion no longer exists.

I believe Europe is burning financially. Europe's problems are not going to go away. They are so structural. Yet, our problems are right behind them. We cannot just look at Europe.