If I say something which you understand fully in this regard, I probably made a mistake.
ALAN GREENSPANPolitical decisions are never random and will always lose out to innovative alternatives.
More Alan Greenspan Quotes
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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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Rules cannot take the place of character.
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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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…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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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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No one has ever eliminated any of that stuff.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
ALAN GREENSPAN