What an ideology is is a conceptual framework with the way people deal with reality.
ALAN GREENSPANWhat an ideology is is a conceptual framework with the way people deal with reality.
ALAN GREENSPANGold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
ALAN GREENSPANThis is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPANThere is no evidence that the business cycle has been repealed.
ALAN GREENSPANWhile these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
ALAN GREENSPANGold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPANI don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
ALAN GREENSPANIt seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
ALAN GREENSPANAll taxes are a drag on economic growth. It’s only a question of degree.
ALAN GREENSPANBy far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
ALAN GREENSPANSince I’ve become a central banker, I’ve learned to mumble with great incoherence.
ALAN GREENSPANAnyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
ALAN GREENSPANWe need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
ALAN GREENSPANWe as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
ALAN GREENSPANWhile local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
ALAN GREENSPANThe abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
ALAN GREENSPAN