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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
ALAN GREENSPAN

Deal Effect Measure Psychology Thermometer Use
Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
ALAN GREENSPAN

Base Business Deal Fear Force Regulation Undermine
The 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

Abandonment Banking Credit Gold Made Possible Standard Statics System Use Welfare
And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
ALAN GREENSPAN

Destruction Mass Over Publicize Weapon Whatever
These days, even out of office, I still read economic reports.
ALAN GREENSPAN

Day Economic Office Out Read Report
Whatever you tax you get less of.
ALAN GREENSPAN

Economy Less Tax
We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
ALAN GREENSPAN

Box Effect Fund Lock Make Need Phantom Real Trust
A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
ALAN GREENSPAN

Bank Decline Foreclosure Housing Level National Need Significant Substantial Trigger
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.
ALAN GREENSPAN

Adequate Ago Buffer Decline Deep Home One Piece Purchase Residence Year
Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPAN

Episode Higher Interest Market Official Rate Recent Toward Unleash Volatility
I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
ALAN GREENSPAN

Clear Guess Out Particular Turn Warn You
How do we know when irrational exuberance has unduly escalated asset values?
ALAN GREENSPAN

Escalate Exuberance Irrational Unduly Value
Political decisions are never random and will always lose out to innovative alternatives.
ALAN GREENSPAN

Alternative Decision Innovative Lose Political Random
I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
ALAN GREENSPAN

Amateur Average Band Big Fade Fairy Good Musician Professional
If prices go down, we will have problems – problems in the sense of spillover to other areas.
ALAN GREENSPAN

Area Other Price Problem Spillover
As long as we issue fiat currency, I see no alternative to a legal tender law.
ALAN GREENSPAN

Alternative Currency Issue Law Legal Long Tender

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