If I say something which you understand fully in this regard, I probably made a mistake.
ALAN GREENSPANIf I seem unduly clear to you, you must have misunderstood what I said.
More Alan Greenspan Quotes
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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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All taxes are a drag on economic growth. It’s only a question of degree.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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These days, even out of office, I still read economic reports.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
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The tub helps me relax, and it’s a great place to read.
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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.
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The need for values is inbred. Their content is not.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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Derivatives have permitted the unbundling of financial risks.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
ALAN GREENSPAN






