If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
ALAN GREENSPANAny informed borrower is simply less vulnerable to fraud and abuse.
More Alan Greenspan Quotes
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Whatever you tax you get less of.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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Derivatives have permitted the unbundling of financial risks.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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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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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 number of mistakes I have made are just awesome. There is no number large enough to account for that.
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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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Before I met Ayn Rand, I was a logical positivist, and accordingly,
ALAN GREENSPAN