[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
ALAN GREENSPANMany of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
More Alan Greenspan Quotes
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Market financed withdrawals of home equity in recent years.
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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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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
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Excessive optimism sows the seeds of its own reversal.
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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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There is no evidence that the business cycle has been repealed.
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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The Iraq War is largely about oil.
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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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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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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I’m a better economist than I was a sax player.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
ALAN GREENSPAN