Paul Singer Quotes

In both the U.S. and Europe, the budget and balance sheet numbers do not work. When 'off-balance sheet' promises are taken into account, the U.S. and most countries of the Euro zone are insolvent.

Too many Americans are out of work, and our debt is out of control.

The world has conducted a massive macro-economic experiment since the cataclysm of 2008. In Europe, the fans of austerity have had their chance, and the results have been a disaster.

It is absolutely impossible to settle the debts to pensioners, teachers, and others. The country hasn't got enough money to do so.

Ireland, once an impoverished backwater from which generations fled, conjured an economic miracle…. After 2007, the party ended in a morass of insolvent banks, bad mortgages, and unpaid public debt, ultimately sending the proudly independent country begging to the International Monetary Fund.

Massive debts owed to foreign creditors weaken our global influence and threaten high inflation and steep tax increases for our children and grandchildren.

You have to take it seriously that the economy is in crisis.

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.

The Mexican debt crisis, Latin American debt crisis, the crises of the 1990s, the Wall Street stock market crash, and other events should have reminded us, and did remind us, that financial instability remains a concern, remains a problem.

Britain is a textbook case of how growing inequality leads to economic crisis. The years before the crash were marked by a sharp rise in remortgaging and the growth of 0 percent balance transfer credit cards. By 2008 the UK had the highest ratio of household debt to GDP of any major economy.

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.

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 worst thing a government can do now in Spain is to do nothing.

The entitlement state has driven us into insolvency.

All of the problems we're facing with debt are manmade problems. We created them. It's called fantasy economics. Fantasy economics only works in a fantasy world. It doesn't work in reality.

The Prime Minister in the UK thinks spending and borrowing more is the right thing to do in the circumstances, and is busily trying to bail out chunks of the private sector which would otherwise have to adjust more quickly to the painful reality that we have been living beyond our means.

We know that advanced economies with stable governments that borrow in their own currency are capable of running up very high levels of debt without crisis.

Greece is an extreme case: a country where both the level of spending and the level of taxation were unsustainable!

There are different flavors of recession. You can get into some pretty dark scenarios pretty quickly.

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.

The financial crisis in our country is not a passing storm. Given the size of the problems, our national effort will not be completed in 2012. It will take many years and will require the efforts and insistence of several governments.

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.

Turkey is widely envied while there are very serious troubles in the world economy.

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

To my mind, the main reason for the Depression in the United States as a whole, is the bondage of debt and the spirit of speculation among the people.