You can’t have the capitalist system if an increasing number of people think it is unjust.
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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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
ALAN GREENSPAN -
Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
ALAN GREENSPAN -
Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
ALAN GREENSPAN -
The worst have failed; investors no longer fund them and are not likely to in the future.
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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
ALAN GREENSPAN -
Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
ALAN GREENSPAN -
Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPAN -
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 -
If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
ALAN GREENSPAN -
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.
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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
ALAN GREENSPAN