Author

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.

From Alan Greenspan

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.

From Alan Greenspan

I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said.

From Alan Greenspan

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.

From Alan Greenspan

People don't realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but that's as far as we go. And I've 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.

From Alan Greenspan

One of the problems with hedge funds is that they are changing so rapidly. If you have the balance sheet that closed business last night, by 11 A.M. this morning, that won't tell you very much about what they're doing.

From Alan Greenspan

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.

From Alan Greenspan

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.

From Alan Greenspan

When you go back and look at American history, it's not terribly different from Canadian history. If you weren't self-reliant on the prairie, you wouldn't survive.

From Alan Greenspan

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.

From Alan Greenspan

Alan Greenspan

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