Productivity is notoriously difficult to predict.
ALAN GREENSPANIn 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.
More Alan Greenspan Quotes
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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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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All taxes are a drag on economic growth. It’s only a question of degree.
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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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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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Credit-default swaps, I think, have serious problems associated with them.
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I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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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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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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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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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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The process of innovation is, of course, never ending.
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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
ALAN GREENSPAN