Alan Greenspan Quotes
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We generally did not talk about the stock market very much at the Fed.
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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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There are signs of froth in some local markets where home prices seem to have risen to unsustainable levels.
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Those of us who have looked to the self-interest of lending institutions to protect shareholder's equity – myself especially – are in a state of shocked disbelief.
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When trust is lost, a nation's ability to transact business is palpably undermined.
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The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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We had a bubble in housing.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Rising interest rates have been advertised for so long and in so many places that anyone who has not appropriately hedged this position by now obviously is desirous of losing money.
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The Fabians laid the groundwork for modern social democracy, and their influence on the world would end up being at least as powerful as that of Marx.
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An area in which more rather than less government involvement is needed, in my judgment, is the rooting out of fraud. It is the bane of any market system.
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The need for values is inbred. Their content is not.