- "It's almost Armageddon if the Japanese and Chinese don't buy our debt.”
- “It's not a question of the economy. It's a question of who will lend us the money if they don't. Imagine us getting ourselves in a situation where we're totally dependent on those two countries. It's crazy.”
- “If the Chinese and Japanese stop buying our bonds, we could easily see [inflation] go to 15 to 20 percent."
- “The other thing is, they're buying almost exclusively short-term debt. And that's what we are offering, because we can't sell the long-term debt. And you know, the history has been that people who borrow short term really get burned.”
- "The U.S. has to quit spending, cut back, start saving, and scale backward. Until that happens, I don't think we're anywhere near out of the woods.”
Julian Robertson, chairman of Tiger Management tells the truth about spending, deficits and the national debt to CNBC's wide-eyed Erin Burnett.
Complete transcript is available here.
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