Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
ALAN GREENSPANI have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
More Alan Greenspan Quotes
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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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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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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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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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The tub helps me relax, and it’s a great place to read.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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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.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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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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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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If I seem unduly clear to you, you must have misunderstood what I said.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
ALAN GREENSPAN