If I say something which you understand fully in this regard, I probably made a mistake.
ALAN GREENSPANIt’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.
More Alan Greenspan Quotes
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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.
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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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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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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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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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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Market financed withdrawals of home equity in recent years.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
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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 signals problems with respect to currency markets. Central banks should pay attention to it.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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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.
ALAN GREENSPAN