Alan Greenspan 1

Anything that we can do to raise personal savings is very much in the interest of this country.
Alan Greenspan

Whatever you tax, you get less of.
Alan Greenspan

Look, I’m very much in favor of tax cuts, but not with borrowed money. And the problem that we’ve gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous. And my view is I don’t think we can play subtle policy here.
Alan Greenspan

Finance is wholly different from the rest the economy.
Alan Greenspan

We really can’t forecast all that well, and yet we pretend that we can, but we really can’t.
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.
Alan Greenspan

At the outset of the creation of the euro in 1999, it was expected that the southern eurozone economies would behave like those in the north; the Italians would behave like Germans. They didn’t. Instead, northern Europe fell into subsidizing southern Europe’s excess consumption, that is, its current account deficits.
Alan Greenspan

I do not understand where the backing of Bitcoin is coming from. There is no fundamental issue of capabilities of repaying it in anything which is universally acceptable, which is either intrinsic value of the currency or the credit or trust of the individual who is issuing the money, whether it’s a government or an individual.
Alan Greenspan

I stated that I’m a libertarian Republican, which means I believe in a series of issues, such as smaller government, constraint on budget deficits, free markets, globalization, and a whole series of other things, including welfare reform.
Alan Greenspan

Most high-income people in our country do not realize that their incomes are being subsidized by their protection from competition from highly skilled people who are prevented from immigrating to the United States. But we need such skills in order to staff our productive economy, so that the standard of living for Americans as a whole can grow.
Alan Greenspan

There is a huge number of people outside our borders who would love to come here. In fact, many of them come here, get well educated, and then are required to leave… This is a factor in income inequality.
Alan Greenspan

Europe is very critical to the United States in the sense not only do we have a fourth of our exports there, but more importantly, a significant proportion of the foreign affiliate profits in fact, half of U.S. corporations, are in Europe.
Alan Greenspan

Before I met Ayn Rand, I was a logical positivist, and accordingly, I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
Alan Greenspan

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.
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

There are winners and there are losers. And as much as we would like to help the losers, if we do it in the way that directs the limited capital of the society to support the low-productivity parts of the economy, it means that the rest of the economy – our overall standard of living – will not rise as much as it could.
Alan Greenspan

What a sound money system does is to stabilize all the elements in it, and reduces the uncertainty that people confront. And the one thing all human beings do when they are confronted with uncertainty is pull back, withdraw, disengage, and that means economic activity, which is really dealing with people, just goes straight down.
Alan Greenspan

History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
Alan Greenspan

I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
Alan Greenspan

I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
Alan Greenspan

Markets do very weird things because it reacts to how people behave, and sometimes people are a little screwy.
Alan Greenspan

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.
Alan Greenspan

We’re a democratic society. Shutting down the government should not be on the agenda.
Alan Greenspan

The only way to have several currencies from divergent nations lumped together is if they are culturally close, such as Germany, the Netherlands and Austria. If they aren’t, it simply can’t continue to work.
Alan Greenspan

Much fiscal policy is implemented, not through spending increases, but through tax credits and other so-called tax expenditures. The markets should respond to them as they do spending cuts, with little contraction in economic activity.
Alan Greenspan

It’s hard to tell which assets will be toxic. The best way to ensure that only shareholders and banks feel it is have adequate capital.
Alan Greenspan

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