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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.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
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New York City
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More quotes by Alan Greenspan

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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
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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
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I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
Alan Greenspan
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable.
Alan Greenspan
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I've been in and out of Wall Street since 1949, and I've never seen the type of animosity between government and Wall Street. And I'm not sure where it comes from, but I suspect it's got to do with a general schism in this society which is really becoming ever more destructive.
Alan Greenspan
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations, enhances a person's ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
Alan Greenspan
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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.
Alan Greenspan
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
Alan Greenspan
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If I say something which you understand fully in this regard, I probably made a mistake.
Alan Greenspan
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I'm a better economist than I was a sax player.
Alan Greenspan
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The guiding purpose of the government regulator is to prevent rather than to create something.
Alan Greenspan
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I'm a plain soap kind of guy.
Alan Greenspan
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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.
Alan Greenspan
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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.
Alan Greenspan
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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
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
Alan Greenspan
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
Alan Greenspan
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It'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. Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
Alan Greenspan
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Deficit spending is simply a scheme for the confiscation of wealth.
Alan Greenspan
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
Alan Greenspan