Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPANGold stands in the way of this insidious process. It stands as a protector of property rights.
More Alan Greenspan Quotes
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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These days, even out of office, I still read economic reports.
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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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?
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The 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.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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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.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPAN