Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPANFear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
More Alan Greenspan Quotes
-
-
I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
ALAN GREENSPAN -
All taxes are a drag on economic growth. It’s only a question of degree.
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 -
A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
ALAN GREENSPAN -
It signals problems with respect to currency markets. Central banks should pay attention to it.
ALAN GREENSPAN -
The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
ALAN GREENSPAN -
The process of innovation is, of course, never ending.
ALAN GREENSPAN -
I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
ALAN GREENSPAN -
This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPAN -
What 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 GREENSPAN -
The tub helps me relax, and it’s a great place to read.
ALAN GREENSPAN -
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 -
It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
ALAN GREENSPAN -
Amateurs want to be right. Professionals want to make money.
ALAN GREENSPAN -
In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
ALAN GREENSPAN