Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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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.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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Significantly opening up immigration to skilled workers solves two problems.
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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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How do we know when irrational exuberance has unduly escalated asset values?
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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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If I’ve made myself clear, I’ve misspoken.
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Amateurs want to be right. Professionals want to make money.
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
ALAN GREENSPAN