The need for values is inbred. Their content is not.
ALAN GREENSPANSuch 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.
More Alan Greenspan Quotes
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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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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They seem to sense… that gold and economic freedom are inseparable.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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The Iraq War is largely about oil.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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No one has ever eliminated any of that stuff.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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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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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
ALAN GREENSPAN






