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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.

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
Economy
Flexible
Greater
Correct
Unanticipated
Ability
Consequences
Imbalances
Often
Inevitable
Cyclical
Self
Thus
Disturbances
Consequence
Imbalance
Size
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Contain

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If you think you understand what I am saying you do not understand what I am saying.
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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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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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.
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I'm a plain soap kind of guy.
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Whatever you tax you get less of.
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Without calling the overall national issue a bubble, it's pretty clear that it's an unsustainable underlying pattern.
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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.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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There are no easy choices. Easy choices are long gone.
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The Iraq War is largely about oil.
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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.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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