Excessive optimism sows the seeds of its own reversal.
ALAN GREENSPANThe guiding purpose of the government regulator is to prevent rather than to create something.
More Alan Greenspan Quotes
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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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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And she always has so much fun doing it. We make a good team.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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Productivity is notoriously difficult to predict.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
ALAN GREENSPAN