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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.

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Cannot Cause Far Forecast Future Go People Realize Probability

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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
ALAN GREENSPAN

Cannot Cause Far Forecast Future Go People Realize Probability
Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
ALAN GREENSPAN

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I have long argued that paying down the national debt is beneficial for the economy.
ALAN GREENSPAN

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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
ALAN GREENSPAN

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There is no evidence that the business cycle has been repealed.
ALAN GREENSPAN

Business Cycle Evidence Repeat
The number of mistakes I have made are just awesome. There is no number large enough to account for that.
ALAN GREENSPAN

Account Awesome Enough Large Made Mistake Number
The number one problem in today’s generation and economy is the lack of financial literacy.
ALAN GREENSPAN

Economy Financial Generation Lack Literacy Number Problem Today
And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
ALAN GREENSPAN

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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
ALAN GREENSPAN

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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
ALAN GREENSPAN

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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.
ALAN GREENSPAN

Bank Equity Especially Interest Mistake Organisation Presume Self Share
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.
ALAN GREENSPAN

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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.
ALAN GREENSPAN

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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
ALAN GREENSPAN

Deserve End Lose Neither Power Principle Republication Swap
Excessive optimism sows the seeds of its own reversal.
ALAN GREENSPAN

Excessive Optimism Retrospect Something
I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
ALAN GREENSPAN

End Free Manner Money Policy Possible Think

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