Alan Greenspan: Year

Alan Greenspan is 13th Chairman of the Federal Reserve in the United States. Explore interesting quotes on year.
Alan Greenspan: 102 quotes0 likes

“A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage-market financed withdrawals of home equity in recent years.”

Alan Greenspan

July 2005 http://www.startribune.com/nation/12598281.html, in testimony to the House Financial Services Committee. <br class="br">2000s

“Intensive research in recent years into the sources of economic growth among both developing and developed nations generally point to a number of important factors: the state of knowledge and skill of a population; the degree of control over indigenous natural resources; the quality of a country's legal system, particularly a strong commitment to a rule of law and protection of property rights; and yes, the extent of a country's openness to trade with the rest of the world. For the United States, arguably the most important factor is the type of rule of law under which economic activity takes place. When asked abroad why the United States has become the most prosperous large economy in the world, I respond, with only mild exaggeration, that our forefathers wrote a constitution and set in motion a system of laws that protects individual rights, especially the right to own property. Nonetheless, the degree of state protection is sometimes in dispute. But by and large, secure property rights are almost universally accepted by Americans as a critical pillar of our economy. While the right of property in the abstract is generally uncontested in all societies embracing democratic market capitalism, different degrees of property protection do apparently foster different economic incentives and outcomes.”

Alan Greenspan

Alan Greenspan (2004) The critical role of education in the nation's economy.
2000s

“That said, there can be little doubt that exceptionally low interest rates on ten-year Treasury notes, and hence on home mortgages, have been a major factor in the recent surge of homebuilding and home turnover, and especially in the steep climb in home prices. Although a 'bubble' in home prices for the nation as a whole does not appear likely, there do appear to be, at a minimum, signs of froth in some local markets where home prices seem to have risen to unsustainable levels.”

Alan Greenspan

Greenspan on June 9, 2005 http://www.federalreserve.gov/boarddocs/testimony/2005/200506092/default.htm. <br class="br">2000s

“Over the years I have had the most contact with Lee Kuan Yew, most recently in 2006, and have always found him impressive, even though we do not always see eye to eye. I met him first when he was George Shultz's guest at the famous (or infamous, depending on your perspective) Bohemian Grove, a male only bonding retreat among the redwoods of California.”

Alan Greenspan

Source: 2000s, The Age of Turbulence (2008), Chapter Fifteen, "The Tigers and the Elephant", p. 312.

“It's hard to overemphasize how important Ford's deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first. Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s:…”

Alan Greenspan

Source: 2000s, The Age of Turbulence (2008), Chapter Three, "Economics Meets Politics", p. 72.

“If you want a simple model for predicting the unemployment rate in the United States over the next few years, here it is: It will be what Greenspan wants it to be, plus or minus a random error reflecting the fact that he is not quite God.”

Alan Greenspan

Slate, 6 February 1997; as cited by Orrin Judd at brothersjuddblog http://www.brothersjudd.com/blog/archives/014839.html, 14 August 2004

“Thus, the willingness of workers in recent years to trade off smaller increases in wages for greater job security seems to be reasonably well documented.”

Alan Greenspan

Testimony Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate February 26, 1997 https://www.federalreserve.gov/boarddocs/hh/1997/february/testimony.htm <br class="br">1990s