Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
ALAN GREENSPANThe number one problem in today’s generation and economy is the lack of financial literacy.
More Alan Greenspan Quotes
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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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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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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I 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.
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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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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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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’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
ALAN GREENSPAN