This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPANThere is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
More Alan Greenspan Quotes
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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 arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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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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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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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.
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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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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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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
ALAN GREENSPAN