Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
ALAN GREENSPANI have long argued that paying down the national debt is beneficial for the economy.
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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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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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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Productivity is notoriously difficult to predict.
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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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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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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
ALAN GREENSPAN