Then fear hits, and it comes down very sharply. When I started to look at that.
ALAN GREENSPANIf I seem unduly clear to you, you must have misunderstood what I said.
More Alan Greenspan Quotes
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
ALAN GREENSPAN -
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.
ALAN GREENSPAN -
The 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 GREENSPAN -
If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
ALAN GREENSPAN -
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
ALAN GREENSPAN -
But rules cannot substitute for character.
ALAN GREENSPAN -
We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
ALAN GREENSPAN -
If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
ALAN GREENSPAN -
They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
ALAN GREENSPAN -
But 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 GREENSPAN -
All taxes are a drag on economic growth. It’s only a question of degree.
ALAN GREENSPAN -
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.
ALAN GREENSPAN -
I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
ALAN GREENSPAN -
We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
ALAN GREENSPAN -
[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
ALAN GREENSPAN