History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPANI am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
More Alan Greenspan Quotes
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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The process of innovation is, of course, never ending.
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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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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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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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Rules cannot take the place of character.
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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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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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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.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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The tub helps me relax, and it’s a great place to read.
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And she always has so much fun doing it. We make a good team.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
ALAN GREENSPAN