Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
ALAN GREENSPANWe ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
More Alan Greenspan Quotes
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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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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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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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPAN