I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
ALAN GREENSPANThere is no evidence that the business cycle has been repealed.
More Alan Greenspan Quotes
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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How do we know when irrational exuberance has unduly escalated asset values?
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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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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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
ALAN GREENSPAN