If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
ALAN GREENSPANCredit-default swaps, I think, have serious problems associated with them.
More Alan Greenspan Quotes
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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History cannot be reduced to a set of statistics and probabilities.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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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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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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Gold still represents the ultimate form of payment in the world.
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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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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
ALAN GREENSPAN