What an ideology is is a conceptual framework with the way people deal with reality.
ALAN GREENSPANWithout the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
More Alan Greenspan Quotes
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If I seem unduly clear to you, you must have misunderstood what I said.
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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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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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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.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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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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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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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.
ALAN GREENSPAN






