The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
ALAN GREENSPANDeficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
More Alan Greenspan Quotes
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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If you think you understand what I am saying you do not understand what I am saying.
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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The tub helps me relax, and it’s a great place to read.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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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.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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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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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
ALAN GREENSPAN