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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.

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Capacity Drive Enable Household Improvement Information Lead Out Practice Reach Technology Tender

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

The process of innovation is, of course, never ending.
ALAN GREENSPAN

Course Ending Innovation never Process
There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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Context Mean Price Psychology Thermometer Underlying
History demonstrates that participants in financial markets are susceptible to waves of optimism.
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Demonstrate Excessive Financial History Optimism Particular Wave
The number one problem in today’s generation and economy is the lack of financial literacy.
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Economy Financial Generation Lack Literacy Number Problem Today
Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
ALAN GREENSPAN

Dominant Euphoria Fear Force Many Multiply Size
Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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Against Always Any Believe Fraud Law Need Probably
I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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Acknowledge Everyone Inconvenient Know Oil Political Saddened
Market financed withdrawals of home equity in recent years.
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Equity Financial Home Market Recent Withdrawl Year
Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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Central Cloud Country Number Outlook Projection Tendency Uncertain
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
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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Asset Caution Consequence Debt Elevate Increase Investor Lowe Onset Premium Price Risk Value
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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Alternative Benefit Choice Judgement Policy Probability
It signals problems with respect to currency markets. Central banks should pay attention to it.
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Attention Bank Central Currency Market Problem Respect Signal
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

Country Decade Escalate Irrational Past Subject
Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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Confiscation Deficit Hide Scheme Simply Spend Wealth
Political decisions are never random and will always lose out to innovative alternatives.
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Alternative Decision Innovative Lose Political Random

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