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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

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
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New York City
New York
United
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Diversity
Imbalances
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There are no easy choices. Easy choices are long gone.
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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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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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Amateurs want to be right. Professionals want to make money.
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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.
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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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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets. Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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The number one problem in today's generation and economy is the lack of financial literacy.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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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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