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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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Bank Decline Foreclosure Housing Level National Need Significant Substantial Trigger

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
ALAN GREENSPAN

Better Change Come Credit Difficult Economy Extend Find Firm Lag Need Number Small Turn
Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
ALAN GREENSPAN

Disbelief Institution Interest Lend Self Shareholder Shock
What an ideology is is a conceptual framework with the way people deal with reality.
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Conceptual Del Framework Ideology People Reality
Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
ALAN GREENSPAN

Amount Available Cash Necessary Problem Should Solve Stress
It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
ALAN GREENSPAN

Anything Deteriorate Escape Fiat Money Perceive Seem
The number of mistakes I have made are just awesome. There is no number large enough to account for that.
ALAN GREENSPAN

Account Awesome Enough Large Made Mistake Number
So there is no reason to suspect that the actual process of boosting rates would be any different.
ALAN GREENSPAN

Boost Different Process Rate Reason Suspect
I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
ALAN GREENSPAN

Always Amaze Day Different Foreign Handle Next Policy Politics Subject Wife
And the percentage changes in wage rates would be the same for all job grades.
ALAN GREENSPAN

All Change Job Percentage Rate Right Same Wage
By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
ALAN GREENSPAN

Decade Development During Event Expansion Extraordinary Far Finance Most Significant
The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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Able Content Leave Measure Own Succeeded True
Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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Competition Country Force Shied Shortage Skill
I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
ALAN GREENSPAN

Anything Day Expect Must Reduce Say Talk
But rules cannot substitute for character.
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Character Rule Substitute
I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
ALAN GREENSPAN

Bank Equity Especially Interest Mistake Organisation Presume Self Share
There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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Confiscation Deficit Hidden Safe Scheme Spend Store Value Wealth

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