It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
ALAN GREENSPANIt seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
ALAN GREENSPANAn almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
ALAN GREENSPANThe 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.
ALAN GREENSPANIf one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
ALAN GREENSPANGold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPANIn the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
ALAN GREENSPANInstitutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
ALAN GREENSPANThe more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
ALAN GREENSPANBut how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
ALAN GREENSPANThe need for values is inbred. Their content is not.
ALAN GREENSPANThe gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
ALAN GREENSPANThe United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
ALAN GREENSPANThe number of mistakes I have made are just awesome. There is no number large enough to account for that.
ALAN GREENSPANWithout the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
ALAN GREENSPANNo matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
ALAN GREENSPANHistory cannot be reduced to a set of statistics and probabilities.
ALAN GREENSPAN