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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

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
Entrepreneur
Jazz Musician
Politician
New York City
New York
Money
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Default
Always
Probability
Print
Zero
Debt
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United

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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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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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I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours.
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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.
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How do we know when irrational exuberance has unduly escalated asset values?
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Excessive optimism sows the seeds of its own reversal.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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There is no evidence that the business cycle has been repealed.
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Productivity is notoriously difficult to predict.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward. The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said.
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Since I've become a central banker, I've learned to mumble with great incoherence. If I seem unduly clear to you, you must have misunderstood what I said.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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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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History cannot be reduced to a set of statistics and probabilities.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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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.
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The process of innovation is, of course, never ending.
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