Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPANIf 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.
More Alan Greenspan Quotes
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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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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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These days, even out of office, I still read economic reports.
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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.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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All taxes are a drag on economic growth. It’s only a question of degree.
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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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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The tub helps me relax, and it’s a great place to read.
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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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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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
ALAN GREENSPAN