Alan Greenspan Quotes, Statistics Quotes

History cannot be reduced to a set of statistics and probabilities.

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Tags : Alan Greenspan Quotes , Statistics Quotes

History demonstrates that participants in financial markets are susceptible to waves of optimism. Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.

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Tags : Alan Greenspan Quotes , Optimism Quotes , Imbalance Quotes

Whatever you tax you get less of.

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Tags : Alan Greenspan Quotes , Economics Quotes , Economy 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.

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Tags : Alan Greenspan Quotes , Average Quotes , Musician Quotes

As long as we issue fiat currency, I see no alternative to a legal tender law.

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Tags : Alan Greenspan Quotes , Money Quotes , Law Quotes

How do we know when irrational exuberance has unduly escalated asset values?

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Tags : Alan Greenspan Quotes , Memorable Quotes , Assets Quotes

I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.

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Tags : Alan Greenspan Quotes , Success Quotes , New York Quotes

A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.

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Tags : Alan Greenspan Quotes , Home Quotes , Years Quotes

I have long argued that paying down the national debt is beneficial for the economy: 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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Tags : Alan Greenspan Quotes , Real Quotes , Long Quotes

Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets. We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past. 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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Tags : Alan Greenspan Quotes , Past Quotes , Japan Quotes

The Iraq War is largely about oil.

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Tags : Alan Greenspan Quotes , War Quotes , Oil Quotes

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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Tags : Alan Greenspan Quotes , Years Quotes , Important Quotes

Credit-default swaps, I think, have serious problems associated with them.

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Tags : Alan Greenspan Quotes , Thinking Quotes , Credit Quotes

If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine. It signals problems with respect to currency markets. Central banks should pay attention to it.

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Tags : Alan Greenspan Quotes , Moving Quotes , Together Quotes

The process of innovation is, of course, never ending.

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Tags : Alan Greenspan Quotes , Innovation Quotes , Process 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.

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Tags : Alan Greenspan Quotes , Risk Quotes , Aftermath 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.

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Tags : Alan Greenspan Quotes , Cutting Quotes , Thinking Quotes

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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Tags : Alan Greenspan Quotes , Regulation Quotes , Moral Quotes

If I say something which you understand fully in this regard, I probably made a mistake.

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Tags : Alan Greenspan Quotes , Mistake Quotes , Made Quotes

The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.

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Tags : Alan Greenspan Quotes , Home Quotes , House Quotes