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All Quotes by author - Alan Greenspan
" Any informed borrower is simply less vulnerable to fraud and abuse. "
" 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. "
" Diplomacy is really far less important than the stock movements within Russia. "
" Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds. Then fear hits, and it comes down very sharply. When I started to look at that, I was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart. "
" Fear is a far more dominant force in human behaviour than euphoria - I would never have expected that or given it a moment's thought before, but it shows up in the data in so many ways. "
" Forecasting our futures is built into our psyches because we will soon have to manage that future. We have no choice. No matter how often we fail, we can never stop trying. "
" History has not dealt kindly with the aftermath of protracted periods of low risk premiums. "
" I always believed in animal spirits. It's not their existence that is new. It's the fact that they are not random events, but actually replicate in-bred qualities of human nature which create those animal spirits. "
" I don't know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we've been talking about today or anything anybody else was talking about. "
" If I turn out to be particularly clear, you've probably misunderstood what I've said. "
" I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said. "
" 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. "
" I'm a free-market economist from years and years back, and I've never veered from that. "
" 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. "
" It is very difficult to predict when a bond crisis could happen. "
" I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University. "
" Markets do very weird things because it reacts to how people behave, and sometimes people are a little screwy. "
" One of the major problems with China is that its innovation is largely borrowed technology. "
" Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs. "
" 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. "
" 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. "
" 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. "
" To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education - literacy, both verbal and numerical, and communication skills. "
" We need, in effect, to make the phantom 'lock-boxes' around the trust fund real. "
" We really can't forecast all that well, and yet we pretend that we can, but we really can't. "
" 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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