Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
ALAN GREENSPANAll taxes are a drag on economic growth. It’s only a question of degree.
More Alan Greenspan Quotes
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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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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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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Whatever you tax you get less of.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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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.
ALAN GREENSPAN