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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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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
ALAN GREENSPAN

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Excessive optimism sows the seeds of its own reversal.
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I have long argued that paying down the national debt is beneficial for the economy.
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If I’ve made myself clear, I’ve misspoken.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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How do we know when irrational exuberance has unduly escalated asset values?
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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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.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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