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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
States
Default
Always
Probability
Print
Zero
Debt
Pay
United
More quotes by Alan Greenspan
Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices, ... This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
Alan Greenspan
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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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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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
The Iraq War is largely about oil.
Alan Greenspan
How do we know when irrational exuberance has unduly escalated asset values?
Alan Greenspan
Indeed, better risk management may be the only truly necessary element of success in banking.
Alan Greenspan
I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives. But material success is possible in this world and far more satisfying when it comes without exploiting others.
Alan Greenspan
In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
Alan Greenspan
I love facts and figures. It's like following a detective story, piecing together what's going on in the economy.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations, enhances a person's ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
Alan Greenspan
In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
Alan Greenspan
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.
Alan Greenspan
The process of innovation is, of course, never ending.
Alan Greenspan
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
Alan Greenspan
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.
Alan Greenspan
It is decidedly not true that nice guys finish last, as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
Alan Greenspan
Amateurs want to be right. Professionals want to make money.
Alan Greenspan
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.
Alan Greenspan
