Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
ALAN GREENSPANThe guiding purpose of the government regulator is to prevent rather than to create something.
More Alan Greenspan Quotes
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Gold still represents the ultimate form of payment in the world.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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If I say something which you understand fully in this regard, I probably made a mistake.
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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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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
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I’m a plain soap kind of guy.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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If I seem unduly clear to you, you must have misunderstood what I said.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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The worst have failed; investors no longer fund them and are not likely to in the future.
ALAN GREENSPAN