Quote

While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.

Alan Greenspan

Change background

T
T
T

Change font

TAGS & TOPICS

Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
Entrepreneur
Jazz Musician
Politician
New York City
New York
States
Significant
Economies
May
Size
Distortion
National
Unlikely
Economy
Severe
United
Locals
Experience
Local
Given
Diversity
Imbalances
Seems
Price
Imbalance

More quotes by Alan Greenspan

Image
The guiding purpose of the government regulator is to prevent rather than to create something.
Alan Greenspan
Image
History cannot be reduced to a set of statistics and probabilities.
Alan Greenspan
Image
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?
Alan Greenspan
Image
Remember what we're looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
Alan Greenspan
Image
What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn't be taking it to those who are willing to and are capable of doing so.
Alan Greenspan
Image
These days, even out of office, I still read economic reports.
Alan Greenspan
Image
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
Image
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.
Alan Greenspan
Image
I'm always amazed that my wife can handle different subjects - one day politics, the next day foreign policy. And she always has so much fun doing it. We make a good team.
Alan Greenspan
Image
Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
Alan Greenspan
Image
[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
Alan Greenspan
Image
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.
Alan Greenspan
Image
At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable, and the percentage changes in wage rates would be the same for all job grades.
Alan Greenspan
Image
When trust is lost, a nation's ability to transact business is palpably undermined.
Alan Greenspan
Image
If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
Alan Greenspan
Image
History demonstrates that participants in financial markets are susceptible to waves of optimism. Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
Alan Greenspan
Image
Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours.
Alan Greenspan
Image
We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
Alan Greenspan
Image
There is no evidence that the business cycle has been repealed.
Alan Greenspan
Image
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.
Alan Greenspan