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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.

Alan Greenspan

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

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When trust is lost, a nation's ability to transact business is palpably undermined.
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I'm running into the tyranny of zero, which is where you can't reduce (the debt) any more
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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.
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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.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
Alan Greenspan
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Excessive optimism sows the seeds of its own reversal.
Alan Greenspan
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There is no evidence that the business cycle has been repealed.
Alan Greenspan
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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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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures. Those of us who have looked to the self-interest of lending institutions to protect shareholders' equity are in a state of shocked disbelief.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
Alan Greenspan
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions... Derivatives have permitted the unbundling of financial risks.
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It's a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven't been able to do it. Maybe somebody else can.
Alan Greenspan
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity. Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
Alan Greenspan
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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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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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History cannot be reduced to a set of statistics and probabilities.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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These days, even out of office, I still read economic reports.
Alan Greenspan