Charles Bass Quotes

For the next three years, we're going to see different economies work out different problems. For European economies, especially Greece, it would be through default.

Financial crises require governments.

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

The real problem is deflation. That is the opposite of inflation but equally serious to the borrower.

Because the world is in economic recession, which worsened since this drama happened, and our country will bear the burden of all of these consequences.

Bond investors want growth much like equity investors, and to the extent that too much austerity leads to recession or stagnation then credit spreads widen out - even if a country can print its own currency and write its own cheques.

I think there will be no government bankruptcy in Greece.

We're on the verge of a financial collapse unless we balance the budget, and that means some really, really tough decisions.

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

If the American government can't stand behind the dollar, the world's benchmark currency, then the global financial system will very likely enter a new era in which there is much less trade and much less economic growth. It would be, by most accounts, the largest self-imposed financial disaster in history.

We have one of the highest interest rates in the world, and we owe more money per capita than any other country. All we need is a nail hole in the bottom of the boat and we're sunk.

Europe is on an economic collision course with reality.

The interest on our debt is going to collapse this country.

It's almost 10 years since the 2008 crisis, but we all still remember the consequences of ignoring threats to the public finances.

We saw in Greece how dangerous it is if a country has a bigger and bigger debt, and I hope that we will not have a second Greece in our neighbouring country, Italy.

By creating the European Central Bank, the member states exposed their own government bonds to the risk of default. Developed countries that issue bonds in their own currency never default, because they can always print money. Their currency may depreciate, but the risk of default is absent.

We have got to cut the spending. We have got to fix Medicare and Social Security. And actually, if we don't cut spending, this country is already broke. We are going off the financial cliff: the big cliff that is going to cause a total economic collapse of America.

Greece's debts are all denominated in euros, but it isn't clear who holds how much of those debts. For that reason, the consequences of a national bankruptcy would be incalculable. Greece is just as systemically important as a major bank.

So it won't be a surprise when the Greek default actually happens and we expect it one way or the other to be relatively soon.

Once our country is fully engulfed in a debt crisis, our economy will be torn apart, and every American will be a victim of the federal government's failure to prevent this disaster.

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

The UK downgrade will come as little surprise to many. It does not appear to be occurring because the UK is cutting its deficit too far and too fast.

Believe me, the next step is a currency crisis because there will be a rejection of the dollar, the rejection of the dollar is a big, big event, and then your personal liberties are going to be severely threatened.

If we bankrupt America, we will all pay the price.

This debt crisis coming to our country. The wall and tidal wave of debt that is befalling our nation. Medicare and Social Security go bankrupt within ten years, we have a debt that is looming so high that in the last year of President Obama's budget just the interest payments on our debt is $916 billion dollars.