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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.

Alan Greenspan

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

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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.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged... and as long as there is debt, there can be failure and contagion.
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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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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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Deficit spending is simply a scheme for the confiscation of wealth.
Alan Greenspan
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Significantly opening up immigration to skilled workers solves two problems. The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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Productivity is notoriously difficult to predict.
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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
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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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
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...our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
Alan Greenspan
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The probability of ten consecutive heads is 0.1 percent thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
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?
Alan Greenspan
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If prices go down, we will have problems - problems in the sense of spillover to other areas.
Alan Greenspan
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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.
Alan Greenspan
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I'm only half joking
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