How do we know when irrational exuberance has unduly escalated asset values?
ALAN GREENSPANRevolutions are something you see only in retrospect.
More Alan Greenspan Quotes
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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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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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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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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The Iraq War is largely about oil.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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Credit-default swaps, I think, have serious problems associated with them.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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I’m a better economist than I was a sax player.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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If I seem unduly clear to you, you must have misunderstood what I said.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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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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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
ALAN GREENSPAN