Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPANI guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
More Alan Greenspan Quotes
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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There are no easy choices. Easy choices are long gone.
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Gold still represents the ultimate form of payment in the world.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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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.
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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.
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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?
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There is no evidence that the business cycle has been repealed.
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I have long argued that paying down the national debt is beneficial for the economy.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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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