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

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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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If prices go down, we will have problems - problems in the sense of spillover to other areas.
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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.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary, ... Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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You can't have the capitalist system if an increasing number of people think it is unjust.
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education - literacy, both verbal and numerical, and communication skills.
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The tub helps me relax, and it's a great place to read.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff.
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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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Whatever you tax you get less of.
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If I've made myself clear, I've misspoken.
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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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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.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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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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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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History cannot be reduced to a set of statistics and probabilities.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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Revolutions are something you see only in retrospect.
Alan Greenspan