In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
ALAN GREENSPANThe increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
More Alan Greenspan Quotes
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There are no easy choices. Easy choices are long gone.
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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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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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
ALAN GREENSPAN