Economic Disaster Quotes

The Great Leap Forward

The economic disasters of socialism and communism come from assuming a blanket superiority of those who want to run a whole economy.

The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed.

State ownership! It leads only to absurd and monstrous conclusions; state ownership means state monopoly, concentrated in the hands of one party and its adherents, and that state brings only ruin and bankruptcy to all.

It's better to have the taxpayer pay for the losses than have the United States of America become an economic wasteland. If the financial system collapses, it's really, really hard to put it back together again.

I was secretary of the Treasury in 2008. In that role, I had the privilege to work with many talented men and women in government and the private sector who labored to pull our nation back from the brink of disaster.

If by carelessness in controlling inflation and imposing controls on our general economy we are unable to meet these temporary but vital calls upon us, we will be courting real disaster.

The Cuban economy is a disaster. No, I do not praise Fidel Castro.

Famines occur under a colonial administration, like the British Raj in India or for that matter in Ireland, or under military dictators in one country after another, like Somalia and Ethiopia, or in one-party states like the Soviet Union and China.

All depressions are caused by government interference and the cure is always offered to take more of the poison that caused the disaster. Depressions are not the result of a free economy.

The path that we are headed on economically in America is one that leads to total ruination of the American system.

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.

Lack of outlets, excess capacity, complete deadlock, in the end regular recurrence of national bankruptcies and other disasters--perhaps world wars from sheer capitalist despair--may confidently be anticipated. History is as simple as that.

When I left the Treasury, there was a poll that showed - and I don't remember the numbers exactly right - something like 90% of the people were against TARP. It prevented a disaster, but you don't get credit for a disaster that people don't see.

Every day it seems more likely that we are destined - or should one say doomed? - to replay the disastrous economic history of the 1930s.

It is folly to believe that Congress and the president, on their own, will make the necessary and difficult decisions to address the impending financial debacle. After all, they and their predecessors engineered the approaching tsunami. As the situation becomes direr, the federal government's actions will grow more oppressive.

I fought NAFTA when it passed; it has been a big disaster for us, in my opinion. If we can renegotiate that, it would be wonderful.

I don't think the U.K. should leave the E.U. I think it would be a disaster for our economy, and it would lead to a decade of economic and political uncertainty at a time when the tectonic plates of global success are moving.

When my husband was president, we went from a $300 billion deficit to a $200 billion surplus and we were actually on the path to eliminating the national debt. When President Obama came into office, he inherited the worst economic disaster since the Great Depression. He has cut the deficit by two-thirds.

I think that the economy, and the political system, has literally become such a disaster I don't know if it's possible to save it.

would be a national evil of the first magnitude.

I think things are imploding on the Democrats, and I actually think this is one of the reasons why the media is so desperate, because despite all the minutia and detail here, in the real world, the things the Democrat Party believes in are failing all over the world, not just here in the United States. The Obama administration was an economic disaster, was an economic failure. Liberalism, socialism around the world is imploding.

The middle class is teetering on the brink of collapse just as surely as AIG was in the fall of 2009 - only this time, it's not just one giant insurance company (and its banking counterparties) facing disaster, it's tens of millions of hardworking Americans who played by the rules.

In the Soviet Union, no industry went under until they all did.

Romney economics would spell disaster for America's middle class. In this economy there are shipbuilders and ship wreckers.