In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
ALAN GREENSPANWell, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
More Alan Greenspan Quotes
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Amateurs want to be right. Professionals want to make money.
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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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I have long argued that paying down the national debt is beneficial for the economy.
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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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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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Market financed withdrawals of home equity in recent years.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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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.
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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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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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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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Before I met Ayn Rand, I was a logical positivist, and accordingly,
ALAN GREENSPAN