Amateurs want to be right. Professionals want to make money.
ALAN GREENSPANIn the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
More Alan Greenspan Quotes
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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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.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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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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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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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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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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What an ideology is is a conceptual framework with the way people deal with reality.
ALAN GREENSPAN