Significantly opening up immigration to skilled workers solves two problems.
ALAN GREENSPANCash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
More Alan Greenspan Quotes
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
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Gold still represents the ultimate form of payment in the world.
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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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Amateurs want to be right. Professionals want to make money.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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The process of innovation is, of course, never ending.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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Credit-default swaps, I think, have serious problems associated with them.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
ALAN GREENSPAN