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I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.

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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
ALAN GREENSPAN

Group Minute Pleasantries Political Rhetoric Security Solve
The process of innovation is, of course, never ending.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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The free lunch has still to be invented.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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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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Senator, if I seem clear to you, you must have misunderstood me’.
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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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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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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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