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 GREENSPANIf prices go down, we will have problems – problems in the sense of spillover to other areas.
More Alan Greenspan Quotes
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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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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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All taxes are a drag on economic growth. It’s only a question of degree.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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Rules cannot take the place of character.
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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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When trust is lost, a nation’s ability to transact business is palpably undermined.
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There are no easy choices. Easy choices are long gone.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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The tub helps me relax, and it’s a great place to read.
ALAN GREENSPAN