I’m a plain soap kind of guy.
ALAN GREENSPANI’m a plain soap kind of guy.
ALAN GREENSPANWhat we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
ALAN GREENSPANThey seem to sense… that gold and economic freedom are inseparable.
ALAN GREENSPANThe 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.
ALAN GREENSPANRecent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPANIf one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
ALAN GREENSPANThe United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
ALAN GREENSPANIt signals problems with respect to currency markets. Central banks should pay attention to it.
ALAN GREENSPANRules cannot take the place of character.
ALAN GREENSPANThe need for values is inbred. Their content is not.
ALAN GREENSPANBut rules cannot substitute for character.
ALAN GREENSPANWe cannot rule out a situation in which a preemptive policy tightening becomes necessary.
ALAN GREENSPANThey then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
ALAN GREENSPANThe number one problem in today’s generation and economy is the lack of financial literacy.
ALAN GREENSPANSkilled 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 GREENSPANSignificantly opening up immigration to skilled workers solves two problems.
ALAN GREENSPAN