Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
ALAN GREENSPANIf I say something which you understand fully in this regard, I probably made a mistake.
More Alan Greenspan Quotes
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The free lunch has still to be invented.
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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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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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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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Productivity is notoriously difficult to predict.
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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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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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If I seem unduly clear to you, you must have misunderstood what I said.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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I have long argued that paying down the national debt is beneficial for the economy.
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If I say something which you understand fully in this regard, I probably made a mistake.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
ALAN GREENSPAN