Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
ALAN GREENSPANIt has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
More Alan Greenspan Quotes
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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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If 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.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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Productivity is notoriously difficult to predict.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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Gold still represents the ultimate form of payment in the world.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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Market financed withdrawals of home equity in recent years.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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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?
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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What an ideology is is a conceptual framework with the way people deal with reality.
ALAN GREENSPAN