Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
ALAN GREENSPANMany of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
More Alan Greenspan Quotes
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
ALAN GREENSPAN -
I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
ALAN GREENSPAN -
Excessive optimism sows the seeds of its own reversal.
ALAN GREENSPAN -
The tub helps me relax, and it’s a great place to read.
ALAN GREENSPAN -
I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
ALAN GREENSPAN -
Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
ALAN GREENSPAN -
We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
ALAN GREENSPAN -
We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
ALAN GREENSPAN -
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.
ALAN GREENSPAN -
But rules cannot substitute for character.
ALAN GREENSPAN -
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
ALAN GREENSPAN -
And she always has so much fun doing it. We make a good team.
ALAN GREENSPAN -
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
ALAN GREENSPAN -
Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
ALAN GREENSPAN -
Fiat money in extremis is accepted by nobody. Gold is always accepted.
ALAN GREENSPAN