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.
Alan Greenspan0
Next quotes
Alan Greenspan:
I've been around long enough to know that a good deal of the praise heaped on me I had nothing to dAlan Greenspan:
Unless you are willing to compromise, society cannot live together.Alan Greenspan:
The problem is you cannot have free global trade with highly restrictive, regulated domestic marketAlan Greenspan:
What a sound money system does is to stabilize all the elements in it, and reduces the uncertaintyAlan Greenspan:
There is a limit to how much the United States Treasury can borrow.Alan Greenspan:
I'm a free-market economist from years and years back, and I've never veered from that.Alan Greenspan:
I think the whole issue of a debt ceiling makes no sense to me whatsoever. Anybody who is remotelyAlan Greenspan:
Increased jobs are the consequence of increased trade. Increasing jobs more than output implies a fAlan Greenspan:
Most high-income people in our country do not realize that their incomes are being subsidized by thAlan Greenspan:
There is a huge number of people outside our borders who would love to come here. In fact, many of