We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
ALAN GREENSPANYou can’t have the capitalist system if an increasing number of people think it is unjust.
More Alan Greenspan Quotes
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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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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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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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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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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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.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
ALAN GREENSPAN -
Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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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.
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But rules cannot substitute for character.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
ALAN GREENSPAN