Productivity is notoriously difficult to predict.
ALAN GREENSPANThe use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
More Alan Greenspan Quotes
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What an ideology is is a conceptual framework with the way people deal with reality.
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Derivatives have permitted the unbundling of financial risks.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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Market financed withdrawals of home equity in recent years.
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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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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
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Senator, if I seem clear to you, you must have misunderstood me’.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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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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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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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.
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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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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
ALAN GREENSPAN