Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
ALAN GREENSPANRevolutions are something you see only in retrospect.
More Alan Greenspan Quotes
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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If you think you understand what I am saying you do not understand what I am saying.
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Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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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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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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Then fear hits, and it comes down very sharply. When I started to look at that.
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The worst have failed; investors no longer fund them and are not likely to in the future.
ALAN GREENSPAN