The national debt has given rise to joint stock companies, to dealings in negotiable effects of all kinds, and to agiotage , in a word to stock-exchange gambling and the modern bankocracy . — Karl Marx
Terrorism, War & Bankruptcy are caused by the privatization of money, issued as a debt and compounded by interest. — Napoleon Bonaparte
A small debt produces a debtor; a large one, an enemy. — Publilius Syrus
Every financial crisis is made out of excess money and credit. — Russell Napier
You cannot spend your way out of recession or borrow your way out of debt. — Daniel Hannan
A government debt is a government claim against personal income and private property - an unpaid tax bill. — Hans F. Sennholz
It is said that the world is in a state of bankruptcy, that the world owes the world more than the world can pay. — Ralph Waldo Emerson
When an economy is stable, people get optimistic. When people get optimistic, they go into debt. When they go into debt, the economy becomes unstable…Stability is destabilizing. — Morgan Housel
There's a danger our fiscal bankruptcy might overtake our moral bankruptcy. — Mort Sahl
No generation has a right to contract debts greater than can be paid off during the course of its own existence. — Thomas Jefferson
It took $185 trillion of debt to produce about $46 trillion of GDP growth over the last twenty years. — Jeff Booth
We all think we're going to get out of debt. — Louie Anderson
Short Debt Crisis Quotes
Worry is in short supply, risky borrowers, questionable schemes, precarious financial system — Howard Marks
When written in Chinese the word "Crisis" is composed of two characters. One represents danger and the other represents opportunity.
Euro Crisis Quotes
If we do not resolve the euro crisis, we will all pay the price. And if we do resolve it, we will all benefit, particularly German taxpayers and savers. — Mario Draghi
In 50 years, no one will care about the fiscal cliff or the Euro crisis. They'll just ask, "So the Arctic melted, and then what did you do?" — Bill McKibben
Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough. — Mario Draghi
May future generations look back on our work and say that these men and women who, in a moment of great crisis, stood up to their politicians, the opinion-makers, and the establishment, and saved their country.
I am sure the euro will oblige us to introduce a new set of economic policy instruments. It is politically impossible to propose that now. But some day there will be a crisis and new instruments will be created. — Romano Prodi
There is no better protection against the euro crisis than successful structural reforms in southern Europe. — Mario Draghi
Governments must commit to sound economic and financial policies. This is how we ensure reform in the euro area - and our independence. — Mario Draghi
Tunisia is extremely dependent on economic conditions in Europe, which is why it also experienced shockwaves from the euro crisis. — Alvaro de Vasconcelos
Germany has acted effectively during the euro crisis. It needs to build on this to engage in other spheres too. — Joachim Gauck
At this time - we're in a dramatic crisis - euro bonds are precisely the wrong answer. They lead us into a debt union, not a stability union. Each country has to take its own steps to reduce its debt. — Angela Merkel
Concerning the common currency: today, the euro is not worth it for Poland. The reason why we survived the financial and economic crisis quite well is that we have a national currency. This will not change in the near future. — Jaroslaw Kaczynski
Debt Ceiling Quotes
An increase in the debt ceiling should be accompanied by fundamental policy reforms, substantial budget savings, and a strong enforcement mechanism to tie the hands of any future Congress. — Jerome Powell
The debate we won't be having is whether or not the debt ceiling should be raised. We will not have a situation where people will hold the American economy hostage in order to achieve a specific agenda - at least not until 2013. So we think that is incredibly important as a matter of economic good. — Jay Carney
The truth is that the United States doesn't need, and shouldn't have, a debt ceiling. Every other democratic country, with the exception of Denmark, does fine without one. — James Surowiecki
Raising the debt ceiling is not additional spending. It is simply saying, you, the United States of America, can continue to borrow the money you need to pay the bills you have already rung up. — Jay Carney
First they didn't believe in evolution. Then they didn't believe in global warming. Now the debt ceiling. What I call 'the moron trifecta.' — Bill Maher
Most of the major increases in the debt ceiling have been accompanied by structural changes in the way we raise and spend money. — Charles Bass
It is simply science fiction fantasy to say that, if you do not raise the debt ceiling, that everything is going to collapse. — Mike Lee
If it took multiple debt ceiling hikes, I'd rather achieve the savings. — Bob Corker
We need to get rid of the debt ceiling law. It's anachronistic and it's a problem. — Mark Zandi
I would vote against raising the national debt ceiling. Again, this is about mortgaging the future of unborn generations of Americans. It's a form of taxation without representation. I don't think we can do that. — Mike Lee
Banking Crisis Quotes
Banks died in 2008. They just haven’t been buried yet. — Max Keiser
I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. — Abraham Lincoln
When banks stop working, the world turns to Bitcoin. — Michael Saylor
Starting in the wake of the 2008 GFC global financial crisis, market observers have warned of a crash in the bond market. initially, it was believed that the trillions printed to bail out the banks would cause inflation and, therefore, a flight from bonds. — Max Keiser
After the last financial crisis, the banks more than doubled their capital and liquidity and they’re far more aware and better at managing the risks they’re taking. — Jerome Powell
There are downsides to implicitly trusting banks, as the 2008 financial crisis showed. — Balaji Srinivasan
And the banks - hard to believe in a time when we're facing a banking crisis that many of the banks created - are still the most powerful lobby on Capitol Hill. And they frankly own the place. — Dick Durbin
The banks lobbied Washington so they could write the rules that got us into this crisis. They then lobbied Washington to get the money to bail them out. And then they are lobbying Washington to write the rules so they can get us into the next crisis. It's perfect circularity. — Elizabeth Warren
The financial crisis of 2008 was not caused by investment banks betting against the housing market in 2007. It was caused by the fact that too few investors - including all of the big investment banks - bet too heavily on the housing market in the years before 2007. — James Surowiecki
Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending — Nassim Nicholas Taleb
Debt Quotes
Students who acquire large debts putting themselves through school are unlikely to think about changing society. When you trap people in a system of debt, they can't afford the time to think. — Noam Chomsky
Our debt to the heroic men and valiant women in the service of our country can never be repaid. They have earned our undying gratitude. America will never forget their sacrifices. — Harry S. Truman
Worrying is like paying a debt you don't owe. — Mark Twain
..we wear the mask that grins and lies, it hides our cheeks and shades our eyes- this debt we pay to human guile; with torn and bleeding hearts we smile. — Paul Laurence Dunbar
A socialist is somebody who doesn't have anything, and is ready to divide it up equally among everybody. — George Bernard Shaw
If you think nobody cares if you're alive, try missing a couple of car payments. — Earl Wilson
I feel these days like a very large flamingo. No matter what way I turn, there is always a very large bill. — Joseph O'Connor
Under its current form, that is imperialism-controlled, debt is a cleverly managed re-conquest of Africa, aiming at subjugating its growth and development through foreign rules. Thus, each one of us becomes the financial slave, which is to say a true slave. — Thomas Sankara
Two hundred fifty years of slavery. Ninety years of Jim Crow. Sixty years of separate but equal. Thirty-five years of racist housing policy. Until we reckon with our compounding moral debts, America will never be whole. — Ta-Nehisi Coates
The rich man who gives to the poor does not bestow alms but pays a debt. — Ambrose
Financial Crisis Quotes
The public understands that the government is broke, but many still don't want to cut programs they enjoy or depend on. — Tucker Carlson
Blaming speculators as a response to financial crisis goes back at least to the Greeks. It's almost always the wrong response. — Lawrence Summers
The financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. — Jerome Powell
The financial crisis and the Great Recession left firms with excess capacity, reducing incentives to invest. — Jerome Powell
The financial crisis revealed important weaknesses in many areas of our financial system. — Jerome Powell
Being on a movie set is like one long financial crisis. — John Cusack
No one should have to choose between medicine and other necessities. No one should have to use the emergency room every time a child gets sick. And no one should have to live in constant fear that a medical problem will become a financial crisis. — Brad Henry
I experienced the year 2000 dot com crash and the 2008 financial crisis, and it almost wiped out the company. — Eric Yuan
The financial crisis should not become an excuse to raise taxes, which would only undermine the economic growth required to regain our strength. — George W. Bush
I want to see somebody go to jail over the financial crisis and not just black, brown and poor whites over humbles and minor drug beefs. — Don Cheadle
Government Debt Quotes
Every American born today owes $43,000 to the federal government the day she or he is born. And we are transferring a tremendous amount of debt to the new generation, much of it owed to overseas creditors who expect to be repaid by our children with interest. — Mark Kirk
The fact that we are here today to debate raising America's debt limit is a sign of leadership failure... It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. — Barack Obama
The multiplication of public offices, increase of expense beyond income, growth and entailment of a public debt are indications soliciting the employment of the pruning knife. — Thomas Jefferson
We don't need new taxes. We need new taxpayers, people that are gainfully employed, making money and paying into the tax system. And then we need a government that has the discipline to take that additional revenue and use it to pay down the debt and never grow it again. — Marco Rubio
As to Taxes, they are evidently inseparable from Government. It is impossible without them to pay the debts of the nation, to protect it from foreign danger, or to secure individuals from lawless violence and rapine. — Alexander Hamilton
The real point about credit bubbles is that they are fueled by the promise of government actions, not the reality of what has been achieved. — Russell Napier
These subsidies from four European governments, which include aircraft launch assistance, capital injections, debt forgiveness, have enabled Airbus to develop and range market airliners well below cost. — Norm Dicks
The Government of Iraq also owes a debt to the American and coalition forces who are fighting the insurgency and helping put that country back together after decades of repression. — Ike Skelton
We want the accursed foreclosure system wiped out.... We will stand by our homes and stay by our firesides by force if necessary, and we will not pay our debts to the loan-shark companies until the government pays its debts to us. — Mary Elizabeth Lease
With all this consumer debt, business debt, government debt, smaller movements in interest rates have a magnified effect. a small movement can tip the boat. — Bill Gross
National Debt Quotes
I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country. — Andrew Jackson
Blessed are the young for they shall inherit the national debt. — Herbert Hoover
America's fighting men and women sacrifice much to ensure that our great nation stays free. We owe a debt of gratitude to the soldiers that have paid the ultimate price for this cause, as well as for those who are blessed enough to return from the battlefield unscathed. — Allen Boyd
A national debt if it is not excessive will be to us a national blessing; it will be powerfull cement of our union. It will also create a necessity for keeping up taxation to a degree which without being oppressive, will be a spur to industry. — Alexander Hamilton
Our nation owes a debt to its fallen heroes that we can never fully repay, but we can honor their sacrifice. — Barack Obama
Omega candles aren’t possible. US national debt is rising by $1 trillion dollars every 100 days. That’s 100 Omega candles a day. — Samson Mow
Nothing is so well calculated to produce a death-like torpor in the country as an extended system of taxation and a great national debt. — William Cobbett
It would be easier to pay off the national debt overnight than to neutralise the long-range effects of our national stupidity — Frank Zappa
We don`t need to drive up the national debt by giving tax breaks to millionaires and billionaires. — Bernie Sanders
Because Social Security has not contributed to our debt, Americans should be skeptical of any politician who says that benefits Americans have earned must be reduced in order to address our national debt. — Hank Johnson
Economic Crisis Quotes
I will not let anyone tell me we must spend more money. This crisis did not come about because we issued too little money but because we created economic growth with too much money and it was not sustainable growth. — Angela Merkel
The climate crisis is being used to create totalitarian controls on society by the World Economic Forum, Bill Gates, and all of these megabillionaires. — Robert F. Kennedy, Jr.
Now our Earth is swarmed with issues such as life, death, illness, wars, economic crises and many others. It is time that we sing out loud the message, 'Love forever.' — Yayoi Kusama
If we have an economic crisis in the Western world it's because the government makes up 50 percent or more of the economy. This is a cancer that is taking away people's freedom. — Marc Faber
The exchange-rate trap, another legacy of this former president Alberto Fernández’s government, not only constitutes a social and productive nightmare, but also the surplus of money today is double what it was before the Rodrigazo economic crisis of 1975. — Javier Milei
What the people here have said is that given the enormous crises facing our country, it is just too late for the same old, same old establishment politics and establishment economics. — Bernie Sanders
The economic crisis really affected my family - 2006 to 2011 were really bad times. Almost everybody in my family lost their jobs. — Joey Badass
Women's struggle for equality worldwide is about more than equality between men and women. Our struggle is about reversing the trends of social, economic, political, and ecological crisis - a global nervous breakdown! Our struggle is about creating sustainable lives and attainable dreams. — Bella Abzug
Marxists have more than once pointed out that the capitalist world economic system contains in itself the seeds of a general crisis and of warlike clashes. — Joseph Stalin
Ebola is not just a health crisis. Across West Africa, a generation of young people risks being lost to an economic catastrophe. — Ellen Johnson Sirleaf
Indebtedness Quotes
One of Satan's greatest tools is pride: to cause a man or a woman to center so much attention on self that he or she becomes insensitive to his Creator or fellow beings. It is a cause for discontent, divorce, teenage rebellion, family indebtedness, and most other problems we face. — Ezra Taft Benson
A man's indebtedness is not virtue; his repayment is. Virtue begins when he dedicates himself actively to the job of gratitude. — Ruth Benedict
College students today are drowning in debt, and it is hurting them and hurting our economy. We must find a way to help families pay for college without condemning them to a lifetime of indebtedness. — Elizabeth Warren
OWE, v. To have (and to hold) a debt. The word formerly signified not indebtedness, but possession; it meant "own," and in the minds of debtors there is still a good deal of confusion between assets and liabilities. — Ambrose Bierce
There is a built-in sense of indebtedness in the consciousness of man, an awareness of owing gratitude, or being caled upon at certain moments to reciprocate, to answer, to live in a way which is compatible with the grandeur and mystery of living. — Abraham Joshua Heschel
Great indebtedness does not make men grateful, but vengeful; and if a little charity is not forgotten, it turns into a gnawing worm. — Friedrich Nietzsche
Anybody who has ever been in business, anybody who has ever paid bills, anybody who has ever lived in a serious adult life knows that indebtedness is a killer. — Frank Lautenberg
Americans have a strange notion that the ordinary laws of economics do not apply to them. So doubtless they will think they are prosperous if the boom starts, and that deficits and indebtedness are merely signs of how prosperous they are. — Albert J. Nock
Let us candidly confess our indebtedness to the needle. How many hours of sorrow has it softened, how many bitter irritations calmed, how many confused thoughts reduced to order, how many life-plans sketched in purple! — Caroline Wells Healey Dall
The idea of regularly acknowledging our indebtedness to the natural world and giving thanks for the many gifts we receive from it, or considering other species to be our close "relations" which many indigenous peoples still do, couldn't be more alien to most of us. — Charlie Cook
Armaments, universal debt and planned obsolescence - those are the three pillars of Western prosperity. — Aldous Huxley
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. — Paul Ryan
All crises have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment. — John Kenneth Galbraith
I'm a medical doctor by training. I'm a physician, not a politician. And I'm in this as a mother on fire. You could say, very concerned about our younger generation that does not have the jobs they need to get themselves out of the debt that they're in. And have the full weight of the climate crisis exploding on them - on their watch. — Jill Stein
I am confident that we can overcome this crisis, provided that we remain united in our effort to address our debt and competitiveness problems. And I think that the Greek people are united; it's important also that the political forces are united in line with the will of the Greek people. — Lucas Papademos
The World Bank is now the biggest culprit in the debt crisis. — Susan George
Civilization has given us enormous successes: going to the moon, technology. But then this is the civilisation that took us to debt, environmental crisis, every single crisis. We need a civilization where we say goodbye to these things. — Muhammad Yunus
Our platform calls for a balanced deficit reduction plan where the wealthy pay their fair share. And when your country is in a costly war, with our soldiers sacrificing abroad and our nation facing a debt crisis at home, being asked to pay your fair share isn't class warfare - it's patriotism. — Cory Booker
If there is one common theme to the vast range of crises...it is that excessive debt accumulation, whether it be by the government, banks, corporations, or consumers, often poses greater systemic risks than it seems during a boom. — Carmen Reinhart
There was, of course, a global financial crisis. But our Labour predecessors left Britain exceptionally vulnerable and damaged: more personal debt than any other major economy; a dangerously inflated property bubble; and a bloated banking sector behaving as masters, not the servants of the people. — Vince Cable
We must work to repeal trade agreements that impede access to affordable generic drugs. We must work to cause the IMF and the World Bank to reduce and eventually eliminate the debt that takes poor nations' resources away from crises like AIDS. We must focus America's leadership on addressing and ending this epidemic. — Dennis Kucinich
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. — Paul Krugman
The problems of 2008 were never cured. The Federal Reserve's solution to the crisis was to lend the economy enough money to borrow its way out of debt. It thought that if it could subsidize banks lending homeowners enough money to buy houses from people who are defaulting, then the bank balance sheets would end up okay. — Michael Hudson
Our debt is out of control. What was a fiscal challenge is now a fiscal crisis. We cannot deny it; instead we must, as Americans, confront it responsibly. And that is exactly what Republicans pledge to do. — Paul Ryan
Look, the president is elected to lead and to face the country's biggest challenges. The country's biggest challenge domestically speaking, no doubt about it, is a debt crisis, and I'm really hoping that he is going to give us a budget that tackles this debt crisis. — Paul Ryan
This is the great crisis in football now. It's not just Rangers; it's a lot of clubs. Big clubs always create more debt despite the huge income they have. It's almost an achievement, isn't it? They make so much money, and yet, still, their debts rise and rise and rise. How does that happen? It's absurd. — Johan Cruyff
When your country is in a costly war, with our soldiers sacrificing abroad and our nation facing a debt crisis at home, being asked to pay your fair share isn't class warfare - it's patriotism. — Cory Booker
I think everybody knows that Africa is in a very deep crisis. There is economic misery and social deprivation and that Africa needs help but the question then is how. And also we have to make sure that we don't repeat old mistakes; this help is only short term. It doesn't address Africa's long-term fundamental needs and how to put Africa on the right track to development. What Africa needs to do is to grow, to grow out of debt. — George W. Bush
We need to be honest with the American people about the problems and the challenges ahead and the solutions that are needed to fix them. And I would argue it's the president who has been missing in action on this front. He knows we have a debt crisis coming. All independent experts show us this. And so he hasn't even given us a budget yet. I mean, the law required that he was supposed to submit a budget the first Monday in February. — Paul Ryan
If we keep kicking the can down the road, if we follow the president's lead or if we pass the Senate budget, then we will have a debt crisis. Then everybody gets hurt. You know who gets hurt first and the worst in a debt crisis? The poor, the elderly. That's what we're trying to prevent from happening. — Paul Ryan
We do not have a debt crisis right now, but we see it coming. We know it's irrefutably happening. And the point we're trying to make with our budget is let's get ahead of this problem. — Paul Ryan
To borrow a phrase from my friend Erskine Bowles on the Fiscal Commission, we are the healthiest looking horse in the glue factory. That means America is still a step ahead of the European nations who are confronting a debt crisis, of Japan that's in its second lost decade. — Paul Ryan
We must also take this opportunity to learn from the situation [of Brexit], just as we learned from the refugee and debt crises. — Jean-Claude Juncker
he economy favors throughput over quality and craftsmanship, and economists are terrified because the American savings rate has crept upward from about zero to almost five percent. But the mortgage crisis and the burgeoning credit card crisis are causing Americans to become wary of irresponsible debt. — Denis Hayes
Since there is no orderly way to liquidate the federal debt, we must brace for a payment crisis. — Hans F. Sennholz
None of the problems that caused the crises in Europe and America have been resolved. They have been delayed and expanded by more debt and more money printing and will lead to more and worse crises. — Bill Bonner
Debt, weve learned, is the match that lights the fire of every crisis. Every crisis has its own set of villains - pick your favorite: bankers, regulators, central bankers, politicians, overzealous consumers, credit rating agencies - but all require one similar ingredient to create a true crisis: too much leverage. — Andrew Ross Sorkin
I do think that all economies need a sense of fiscal discipline especially over the midterm and if you are in the middle of a debt crisis you can't borrow your way out of a debt crisis. That's logically impossible. — Stephen Harper
The environmental crisis is somber evidence of an insidious fraud hidden in the vaunted productivity and wealth of modern, technology-based society. This wealth has been gained by rapid short-term exploitation of the environmental system, but it has blindly accumulated a debt to nature-a debt so large and so pervasive that in the next generation it may, if unpaid, wipe out most of the wealth it has gained us. — Barry Commoner
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