Excessive optimism sows the seeds of its own reversal.
ALAN GREENSPANIt keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
More Alan Greenspan Quotes
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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Significantly opening up immigration to skilled workers solves two problems.
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What an ideology is is a conceptual framework with the way people deal with reality.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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Senator, if I seem clear to you, you must have misunderstood me’.
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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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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPAN






