Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPANIt seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
More Alan Greenspan Quotes
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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.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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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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Significantly opening up immigration to skilled workers solves two problems.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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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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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.
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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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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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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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I’m a plain soap kind of guy.
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Market financed withdrawals of home equity in recent years.
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Credit-default swaps, I think, have serious problems associated with them.
ALAN GREENSPAN -
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.
ALAN GREENSPAN






