The process of innovation is, of course, never ending.
ALAN GREENSPANI have long argued that paying down the national debt is beneficial for the economy.
More Alan Greenspan Quotes
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Excessive optimism sows the seeds of its own reversal.
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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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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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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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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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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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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
ALAN GREENSPAN






