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Alan Greenspan Quotes

The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake Picture Quote #1

I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits Picture Quote #1

In general, corruption tends to exist whenever governments have favors to extend, or something to sell Picture Quote #1

I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature Picture Quote #1

I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world Picture Quote #1

The number one problem in today’s generation and economy is the lack of financial literacy Picture Quote #1

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Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours Picture Quote #1

Gold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted Picture Quote #1

We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability Picture Quote #1

Since I’ve become a central banker, I’ve learned to mumble with great incoherence. If I seem unduly clear to you, you must have misunderstood what I said Picture Quote #1

The arts develop skills and habits of mind that are important for workers in the new economy of ideas Picture Quote #1

All taxes are a drag on economic growth. It’s only a question of degree Picture Quote #1

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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 Picture Quote #1

I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading Picture Quote #1

It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade. The worst have failed; investors no longer fund them and are not likely to in the future Picture Quote #1

What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so Picture Quote #1

Look, I’m very much in favor of tax cuts, but not with borrowed money. And the problem that we’ve gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous. And my view is I don’t think we can play subtle policy here Picture Quote #1

Given our inevitably incomplete knowledge about key structural aspects of an everchanging economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank needs to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path. The decision makers then need to reach judgment about the probabilities, costs and benefits of the various possible outcomes under alternative choices for policy Picture Quote #1

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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives. But material success is possible in this world and far more satisfying when it comes without exploiting others Picture Quote #1

Gold, unlike all other commodities, is a currency... and the major thrust in the demand for gold is not for jewelry. It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating Picture Quote #1

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. Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one Picture Quote #1

Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset: the increased flexibility of our economy, which has fostered our extraordinary resilience to shocks Picture Quote #1

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,... This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums Picture Quote #1

Since becoming a central banker, I have learned to mumble with great incoherence. If I seem unduly clear to you, you must have misunderstood what I said Picture Quote #1

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Signs of froth in some local markets where home prices seem to have risen to unsustainable levels Picture Quote #1

I was aware that the loosening of mortgage credit terms for subprime borrowers increased financial risk. But I believed then, as now, that the benefits of broadened home ownership are worth the risk Picture Quote #1

Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this Picture Quote #1

Modern dynamic economies do not stay still long enough to allow for an accurate reading of their underlying structures Picture Quote #1

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 Picture Quote #1

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Text Quotes

The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake (Alan Greenspan Quotes) I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits (Alan Greenspan Quotes) In general, corruption tends to exist whenever governments have favors to extend, or something to sell (Alan Greenspan Quotes) I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature (Alan Greenspan Quotes) I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world (Alan Greenspan Quotes) The number one problem in today’s generation and economy is the lack of financial literacy (Alan Greenspan Quotes) Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours (Alan Greenspan Quotes) Gold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted (Alan Greenspan Quotes) We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability (Alan Greenspan Quotes) Since I’ve become a central banker, I’ve learned to mumble with great incoherence. If I seem unduly clear to you, you must have misunderstood what I said (Alan Greenspan Quotes) The arts develop skills and habits of mind that are important for workers in the new economy of ideas (Alan Greenspan Quotes) All taxes are a drag on economic growth. It’s only a question of degree (Alan Greenspan Quotes) We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power (Alan Greenspan Quotes) I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading (Alan Greenspan Quotes) It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade. The worst have failed; investors no longer fund them and are not likely to in the future (Alan Greenspan Quotes) What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so (Alan Greenspan Quotes) Look, I’m very much in favor of tax cuts, but not with borrowed money. And the problem that we’ve gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous. And my view is I don’t think we can play subtle policy here (Alan Greenspan Quotes) Given our inevitably incomplete knowledge about key structural aspects of an everchanging economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank needs to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path. The decision makers then need to reach judgment about the probabilities, costs and benefits of the various possible outcomes under alternative choices for policy (Alan Greenspan Quotes) I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives. But material success is possible in this world and far more satisfying when it comes without exploiting others (Alan Greenspan Quotes) Gold, unlike all other commodities, is a currency... and the major thrust in the demand for gold is not for jewelry. It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating (Alan Greenspan Quotes) 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. Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one (Alan Greenspan Quotes) Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset: the increased flexibility of our economy, which has fostered our extraordinary resilience to shocks (Alan Greenspan Quotes) 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,... This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums (Alan Greenspan Quotes) Since becoming a central banker, I have learned to mumble with great incoherence. If I seem unduly clear to you, you must have misunderstood what I said (Alan Greenspan Quotes) Signs of froth in some local markets where home prices seem to have risen to unsustainable levels (Alan Greenspan Quotes) I was aware that the loosening of mortgage credit terms for subprime borrowers increased financial risk. But I believed then, as now, that the benefits of broadened home ownership are worth the risk (Alan Greenspan Quotes) Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this (Alan Greenspan Quotes) Modern dynamic economies do not stay still long enough to allow for an accurate reading of their underlying structures (Alan Greenspan Quotes) 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 (Alan Greenspan Quotes)

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