…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
ALAN GREENSPANThe probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
More Alan Greenspan Quotes
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Then fear hits, and it comes down very sharply. When I started to look at that.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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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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How do we know when irrational exuberance has unduly escalated asset values?
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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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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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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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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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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If I’ve made myself clear, I’ve misspoken.
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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The tub helps me relax, and it’s a great place to read.
ALAN GREENSPAN






