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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.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
Entrepreneur
Jazz Musician
Politician
New York City
New York
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Investing
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More quotes by Alan Greenspan

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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
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I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I'm only half joking
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Credit-default swaps, I think, have serious problems associated with them.
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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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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
Alan Greenspan
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The process of innovation is, of course, never ending.
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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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.
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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
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
Alan Greenspan
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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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The number one problem in today's generation and economy is the lack of financial literacy.
Alan Greenspan
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You can't have the capitalist system if an increasing number of people think it is unjust.
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.
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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.
Alan Greenspan
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Before I met Ayn Rand, I was a logical positivist, and accordingly, I didn't believe in absolutes, moral or otherwise. If I couldn't prove a proposition with facts and figures, it was without merit.
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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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.
Alan Greenspan
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The Iraq War is largely about oil.
Alan Greenspan