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All Quotes by author - Alan Greenspan
" Any informed borrower is simply less vulnerable to fraud and abuse. "
Less
Abuse
Finance
" 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. "
Human Nature
Corruption
Nature
" Diplomacy is really far less important than the stock movements within Russia. "
Important
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. "
Down
Bubbles
Size
" 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. "
Moment
More
Never
" 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. "
Future
Choice
Trying
" History has not dealt kindly with the aftermath of protracted periods of low risk premiums. "
Dealt
History
Risk
" 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. "
Random
Animal
Human Nature
" 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. "
Talking
Stock Market
Today
" If I turn out to be particularly clear, you've probably misunderstood what I've said. "
Turn
You
Clear
" I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said. "
Misunderstood
Clear
You
" 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. "
View
Achieving
You
" I'm a free-market economist from years and years back, and I've never veered from that. "
Never
Back
Years
" 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. "
Value
Protect
Gold
" It is very difficult to predict when a bond crisis could happen. "
Difficult
Predict
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. "
Business
Music
New York
" Markets do very weird things because it reacts to how people behave, and sometimes people are a little screwy. "
Things
People
Little
" One of the major problems with China is that its innovation is largely borrowed technology. "
Innovation
China
Problems
" Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs. "
Lose
Surely
Will
" 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. "
True
You
Trail
" 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. "
Pay
Probability
Always
" 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. "
Finance
Nature
Long
" 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. "
Foundation
Communication
Education
" We need, in effect, to make the phantom 'lock-boxes' around the trust fund real. "
Trust
Make
Need
" We really can't forecast all that well, and yet we pretend that we can, but we really can't. "
Forecast
Really
Pretend
" 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. "
Imagination
Stretch
Value
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