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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

I’m a plain soap kind of guy.
ALAN GREENSPAN

Guy Kind Plain Soap
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
ALAN GREENSPAN

Characteristics Corruption Embezzlement Everywhere Exist Regrettably
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 Price Psychology Thermometer Underlying
I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
ALAN GREENSPAN

Absolute Believe Fact Figure Moral Otherwise Proposition
This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPAN

Aftermath History Period Premium Protract Reason Risk
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 Country Degree Income Reduce Skill Supply Unable Wage Work
Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
ALAN GREENSPAN

Asset Caution Consequence Debt Elevate Increase Investor Lowe Onset Premium Price Risk Value
If you think you understand what I am saying you do not understand what I am saying.
ALAN GREENSPAN

Say Think Understand
Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
ALAN GREENSPAN

Another Commodity Counterparty Derivative Gold Often Private Restrict Supply Trade
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
I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
ALAN GREENSPAN

Almost Came Deficit Destabilize Chronic Realization Stark Surplus
History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPAN

Aftermath Dealt History Period Premium Protracted Risk
Senator, if I seem clear to you, you must have misunderstood me’.
ALAN GREENSPAN

Clear Misunderstood Seem Senator
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
Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
ALAN GREENSPAN

Central Cloud Country Number Outlook Projection Tendency Uncertain
While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
ALAN GREENSPAN

Accelerate Circumstance Dramatic Economic Innovation Offer Return Tendency Train

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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