And the percentage changes in wage rates would be the same for all job grades.
ALAN GREENSPANThe number of mistakes I have made are just awesome. There is no number large enough to account for that.
More Alan Greenspan Quotes
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Political decisions are never random and will always lose out to innovative alternatives.
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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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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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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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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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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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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
ALAN GREENSPAN