Ken Langone Weighs In On Eurozone Fears, U.S. Economy

Ken Langone, a noted investor and former director of the New York Stock Exchange, appeared on Fox Business News yesterday. He talked about the problems occurring in the Eurozone and the state of the U.S. economy. Speaking of the United States, Langone said "we're being given a preview of what can happen here in future years in Europe right now."

Ken Langone how the issues in Europe will come to the US:

“I think we have real issues. We’re being given a preview of what can happen here in future years in Europe right now. It can come here and it will come here unless we address the issues.”

Look at Greece and look at their problems. Look at the currency issue. The big issue is living within your means. Greece has now had to reach out to Germany and other European countries to get help because their profits are waste. It will happen here. We have to address the issue. We have to understand that only as long as people are willing to take your paper are you solid…I don’t think this is a one day issue. This has got long term implications for us.

“Correction was in the cards at some point. Where and when, I don’t know…I’m not thinking about the stock market as much as I am thinking about the implications of our currency, our national debt, our state governments. These states. Look at California, look at New York.”

“The problem is going to get worse until there’s no enabler. Until China says I don’t want any more of your paper America.”

Ken Langone On Greece:

“You take candy away from a kid, that’s used to having whatever he wants, he’s bound to have a tantrum.”

Ken Langone on Corporate America:

“Right now if you look at corporate America, we are in good shape. I think business has done a good job getting its affairs in order. We are now talking about government spending…we are being given a golden opportunity to see what’s going to happen to us if we don’t change our ways. Just look at Europe.”