If I say something which you understand fully in this regard, I probably made a mistake.
ALAN GREENSPANThen fear hits, and it comes down very sharply. When I started to look at that.
More Alan Greenspan Quotes
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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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 may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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Amateurs want to be right. Professionals want to make money.
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What an ideology is is a conceptual framework with the way people deal with reality.
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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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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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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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.
ALAN GREENSPAN