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 GREENSPANThe number of mistakes I have made are just awesome. There is no number large enough to account for that.
More Alan Greenspan Quotes
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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The Iraq War is largely about oil.
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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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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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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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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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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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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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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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.
ALAN GREENSPAN