It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
ALAN GREENSPANBefore I met Ayn Rand, I was a logical positivist, and accordingly,
More Alan Greenspan Quotes
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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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.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
ALAN GREENSPAN -
The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
ALAN GREENSPAN -
Credit-default swaps, I think, have serious problems associated with them.
ALAN GREENSPAN