Anything that we can do to raise personal savings is very much in the interest of this country.

ALAN GREENSPAN

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Anything that we can do to raise personal savings is very much in the interest of this country.

Alan Greenspan

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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
ALAN GREENSPAN

Guarantee Like Purchase
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

Go Higher More
History demonstrates that participants in financial markets are susceptible to waves of optimism.
ALAN GREENSPAN

Demonstrate Excessive Financial Optimism Particular Wave
I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.

ALAN GREENSPAN

I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
ALAN GREENSPAN

Detective Economy Piece Together
We cannot rule out a situation in which a preemptive policy tightening becomes necessary.

ALAN GREENSPAN

We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
ALAN GREENSPAN

Out Preëmptive Tight
If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.

ALAN GREENSPAN

If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
ALAN GREENSPAN

Minute Pleasantries Political Rhetoric
I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
ALAN GREENSPAN

Amaze Day Next Subject
Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
ALAN GREENSPAN

Jargon Mechanism More Nothing Scheme Welfare
We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
ALAN GREENSPAN

Being Central Century Midst Once REquired Tsunami
We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
ALAN GREENSPAN

Banker Bubble Central Do Economy Financial Threaten
We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
ALAN GREENSPAN

Bell Economy Evolve Financial International Rapid System Whistle
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.

ALAN GREENSPAN

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.
ALAN GREENSPAN

Caution During Rise Two Warranted Year
Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
ALAN GREENSPAN

Idea Innovative Nobody Senator Unfortunately
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

ALAN GREENSPAN

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
ALAN GREENSPAN

Confiscation Inflation Protect
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.

ALAN GREENSPAN

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.
ALAN GREENSPAN

Aspect Bank Economy Ever Give Incomplete Inevitably Outcome Particular Sometimes Structural
It signals problems with respect to currency markets. Central banks should pay attention to it.
ALAN GREENSPAN

Bank Central Currency Signal

Anything that we can do to raise personal savings is very much in the interest of this country.

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