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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…

Alan Greenspan

But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
ALAN GREENSPAN

Asset Escalate Exuberance Irrational Unduly Value
Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
ALAN GREENSPAN

Buddle Call Clear Issue National Overall Pattern Pretty Unsustainable Without
If you think you understand what I am saying you do not understand what I am saying.
ALAN GREENSPAN

Say Think Understand
If I seem unduly clear to you, you must have misunderstood what I said.
ALAN GREENSPAN

Clear Misunderstood Must Said Seen Unduly
What an ideology is is a conceptual framework with the way people deal with reality.
ALAN GREENSPAN

Conceptual Del Framework Ideology People Reality
We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
ALAN GREENSPAN

Being Central Century Government Midst Once REquired Tsunami
If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
ALAN GREENSPAN

Deal Effect Measure Psychology Thermometer Use
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

Amount Available Cash Necessary Problem Should Solve Stress
The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
ALAN GREENSPAN

Country Crise Current End Financial Most Retrospect Since War Wrench
This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
ALAN GREENSPAN

Better Built Decade Example Financial Market Mousetrap People
I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
ALAN GREENSPAN

Continue Go Higher Market More Stock
It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
ALAN GREENSPAN

Bitcoin Blue Bubble Imagination Intrinsic Really Stretch
I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
ALAN GREENSPAN

Amateur Average Business Country Enroll Good Limit Professional Realize Soon
I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
ALAN GREENSPAN

Animosity Between Descriptive E Even Government More Out Since Street Suspect Type Wall
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.
ALAN GREENSPAN

Asset Banker Bubble Central Collapse Concern Do Economy Financial Threaten
Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
ALAN GREENSPAN

Develop Fiscal Path Place Policy Protection Regard Reluctance Sustainable Trade

The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…

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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…

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