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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.

Alan Greenspan

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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.

ALAN GREENSPAN

If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
ALAN GREENSPAN

Consequence Reduce Supply Unable Wage
I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.

ALAN GREENSPAN

I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
ALAN GREENSPAN

Cannot Cut Deficit Economy Overdo Overdue Political Realistic
I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.

ALAN GREENSPAN

I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
ALAN GREENSPAN

Adherence Strict
Excessive optimism sows the seeds of its own reversal.

ALAN GREENSPAN

Excessive optimism sows the seeds of its own reversal.
ALAN GREENSPAN

Excessive Optimism Retrospect Something
The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.

ALAN GREENSPAN

The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
ALAN GREENSPAN

Able Leave Own Succeeded
We will have more crises and none of them will look like this because no two crises have anything in common except human nature.

ALAN GREENSPAN

We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
ALAN GREENSPAN

Anything Crise Like
There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
ALAN GREENSPAN

Context Mean Thermometer Underlying
I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.

ALAN GREENSPAN

I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
ALAN GREENSPAN

Other Some Table Throw
Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.

ALAN GREENSPAN

Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
ALAN GREENSPAN

Clearly Earning Higher Imply Inflation Less Lower Premium
I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.

ALAN GREENSPAN

I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
ALAN GREENSPAN

Acknowledge Inconvenient Large Saddened
Anything that we can do to raise personal savings is very much in the interest of this country.

ALAN GREENSPAN

Anything that we can do to raise personal savings is very much in the interest of this country.
ALAN GREENSPAN

Anything Much Raise Say
Credit-default swaps, I think, have serious problems associated with them.

ALAN GREENSPAN

Credit-default swaps, I think, have serious problems associated with them.
ALAN GREENSPAN

Credit Default Swap
Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.

ALAN GREENSPAN

Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
ALAN GREENSPAN

Grop Possess Exist Senator
Many 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.

ALAN GREENSPAN

Many 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.
ALAN GREENSPAN

Adequate Ago Buffer Decline One Piece Purchase Residence Year
I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
ALAN GREENSPAN

Anything Day Expect Must Reduce Say
Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
ALAN GREENSPAN

Should

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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.

Related Topics

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