The guiding purpose of the government regulator is to prevent rather than to create something.
ALAN GREENSPANGold still represents the ultimate form of payment in the world.
More Alan Greenspan Quotes
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All taxes are a drag on economic growth. It’s only a question of degree.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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Productivity is notoriously difficult to predict.
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I’m a plain soap kind of guy.
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The free lunch has still to be invented.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
ALAN GREENSPAN