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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.

Alan Greenspan

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.
ALAN GREENSPAN

Develop Fiscal Path Place Policy Protection Regard Reluctance Sustainable Trade
They seem to sense… that gold and economic freedom are inseparable.
ALAN GREENSPAN

Economic Freedom Gold Inseparable See Sense
Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
ALAN GREENSPAN

Currency Dollar Evidence Gold Look Premier Remember Still
Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
ALAN GREENSPAN

Base Business Deal Fear Force Regulation Undermine
In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
ALAN GREENSPAN

Corruption Exist Extend Favor General Government Sell Something
Whatever you tax you get less of.
ALAN GREENSPAN

Economy Less Tax
Then fear hits, and it comes down very sharply. When I started to look at that.
ALAN GREENSPAN

Come Down Fear Hit Look Sharply Start That
If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
ALAN GREENSPAN

Consequence Country Degree Income Reduce Skill Supply Unable Wage Work
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.
ALAN GREENSPAN

Goad Growth Improve Mean Preventative Snoop Statics System
The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
ALAN GREENSPAN

Chosen Customer Effective Elsewhere Investor Propensity Skill Technical
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.
ALAN GREENSPAN

Aspect Bank Change Economy Ever Give Incomplete Inevitably Knowledge Outcome Particular Sometimes Structural
It signals problems with respect to currency markets. Central banks should pay attention to it.
ALAN GREENSPAN

Attention Bank Central Currency Market Problem Respect Signal
The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
ALAN GREENSPAN

Art Development Economy Habit Idea Importance Mind Skill Worker
Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
ALAN GREENSPAN

Competition Country Force Shied Shortage Skill
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?
ALAN GREENSPAN

Asset Escalate Exuberance Irrational Unduly Value
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.
ALAN GREENSPAN

Able Content Leave Measure Own Succeeded True

I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.

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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.

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