If you think you understand what I am saying you do not understand what I am saying.
ALAN GREENSPANThe increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
More Alan Greenspan Quotes
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The tub helps me relax, and it’s a great place to read.
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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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The Iraq War is largely about oil.
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Political decisions are never random and will always lose out to innovative alternatives.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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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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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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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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Any informed borrower is simply less vulnerable to fraud and abuse.
ALAN GREENSPAN