When trust is lost, a nation’s ability to transact business is palpably undermined.
ALAN GREENSPANRecent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
More Alan Greenspan Quotes
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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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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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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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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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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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Then fear hits, and it comes down very sharply. When I started to look at that.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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Market financed withdrawals of home equity in recent years.
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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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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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
ALAN GREENSPAN