History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPANAmerican and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
More Alan Greenspan Quotes
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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The free lunch has still to be invented.
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And the percentage changes in wage rates would be the same for all job grades.
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All taxes are a drag on economic growth. It’s only a question of degree.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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The Iraq War is largely about oil.
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What an ideology is is a conceptual framework with the way people deal with reality.
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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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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
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Anything that we can do to raise personal savings is very much in the interest of this country.
ALAN GREENSPAN