You can’t have the capitalist system if an increasing number of people think it is unjust.
ALAN GREENSPANThe probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
More Alan Greenspan Quotes
-
-
There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
ALAN GREENSPAN -
When trust is lost, a nation’s ability to transact business is palpably undermined.
ALAN GREENSPAN -
I’m a plain soap kind of guy.
ALAN GREENSPAN -
No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
ALAN GREENSPAN -
If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
ALAN GREENSPAN -
Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
ALAN GREENSPAN -
The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
ALAN GREENSPAN -
Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
ALAN GREENSPAN -
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 -
They seem to sense… that gold and economic freedom are inseparable.
ALAN GREENSPAN -
If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
ALAN GREENSPAN -
I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
ALAN GREENSPAN -
We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
ALAN GREENSPAN -
People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
ALAN GREENSPAN -
[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
ALAN GREENSPAN