Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPANDeficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
More Alan Greenspan Quotes
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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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.
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The need for values is inbred. Their content is not.
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
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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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Political decisions are never random and will always lose out to innovative alternatives.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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They seem to sense… that gold and economic freedom are inseparable.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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The free lunch has still to be invented.
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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 -
Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPAN