--- title: "27 Alan Greenspan Quotes by 26 authors" description: "Browse 27 Alan Greenspan quotes by 26 authors. Discover the best Alan Greenspan sayings and thoughts." image: "https://sms4smile.com/quotes/i/5f2/nassim-nicholas-taleb-352_unskilled_alan-greenspan-is-unskilled-you-don-t-ta_1302601.png" --- > [Alan Greenspan is unskilled; you don't take the unskilled seriously.](https://sms4smile.com/quotes/nassim-nicholas-taleb/alan-greenspan-is-unskilled-you-don-t-take-the-unskilled-seriously/) [Nassim Nicholas Taleb](https://sms4smile.com/quotes/author/nassim-nicholas-taleb/) [Image](https://sms4smile.com/quotes/i/5f2/nassim-nicholas-taleb-352_unskilled_alan-greenspan-is-unskilled-you-don-t-ta_1302601.png) > [Alan Greenspan is going to go down in history as one of the worst Federal Reserve chairmen ever.](https://sms4smile.com/quotes/bill-foster/alan-greenspan-is-going-to-go-down-in-history-as-one-of-the-worst/) [Bill Foster](https://sms4smile.com/quotes/author/bill-foster/) [Image](https://sms4smile.com/quotes/i/1f3/bill-foster-8681_customer_alan-greenspan-is-going-to-go-down-in-hi_1724500.png) > [“She pokes at a very wrinkled baked potato that somehow reminds me of Alan Greenspan.”](https://sms4smile.com/quotes/nic-tatano/she-pokes-at-a-very-wrinkled-baked-potato-that-somehow-reminds-me-of/) [Nic Tatano](https://sms4smile.com/quotes/author/nic-tatano/) [Image](https://sms4smile.com/quotes/i/e5a/nic-tatano-72589_potato_she-pokes-at-a-very-wrinkled-baked-potat_3057356.jpg) > [Alan Greenspan is the worst Chairman of the Fed in history.](https://sms4smile.com/quotes/steve-eisman/alan-greenspan-is-the-worst-chairman-of-the-fed-in-history/) [Steve Eisman](https://sms4smile.com/quotes/author/steve-eisman/) [Image](https://sms4smile.com/quotes/i/96f/steve-eisman-16245_alan_alan-greenspan-is-the-worst-chairman-of_2189217.jpg) > [You wouldn't want Alan Greenspan to write the instructions for assembling a beach chair.](https://sms4smile.com/quotes/robert-orben/you-wouldn-t-want-alan-greenspan-to-write-the-instructions-for/) [Robert Orben](https://sms4smile.com/quotes/author/robert-orben/) [Image](https://sms4smile.com/quotes/i/742/robert-orben-3864_assembling_you-wouldn-t-want-alan-greenspan-to-writ_2296244.jpg) > [“A brick could be used as a thick bumper sticker. Then if you get in a crash, you can blame it on…](https://sms4smile.com/quotes/jarod-kintz/a-brick-could-be-used-as-a-thick-bumper-sticker-then-if-you-get-in-a/) [Jarod Kintz](https://sms4smile.com/quotes/author/jarod-kintz/) [Image](https://sms4smile.com/quotes/i/293/jarod-kintz-2_housing-market_a-brick-could-be-used-as-a-thick-bumper_904437.jpg) > [No man bears more responsibility for the present worldwide financial crisis and coming depression than Alan Greenspan.](https://sms4smile.com/quotes/bill-bonner/no-man-bears-more-responsibility-for-the-present-worldwide-financial/) [Bill Bonner](https://sms4smile.com/quotes/author/bill-bonner/) [Image](https://sms4smile.com/quotes/i/0ce/bill-bonner-23956_bears_no-man-bears-more-responsibility-for-the_2058472.jpg) > [ \[On reporters trying to cajole a smile from her husband, Alan Greenspan:\] For a Federal Reserve chairman, that was a smile. ](https://sms4smile.com/quotes/andrea-mitchell/on-reporters-trying-to-cajole-a-smile-from-her-husband-alan-greenspan/) [Andrea Mitchell](https://sms4smile.com/quotes/author/andrea-mitchell/) [Image](https://sms4smile.com/quotes/i/bd9/andrea-mitchell-21351_chairman_on-reporters-trying-to-cajole-a-smile-fr_1993930.jpg) > [ But the trouble is that he \[Alan Greenspan\] had been an Ayn Rander. You can take the boy out of the cult… ](https://sms4smile.com/quotes/paul-samuelson/but-the-trouble-is-that-he-alan-greenspan-had-been-an-ayn-rander-you/) [Paul Samuelson](https://sms4smile.com/quotes/author/paul-samuelson/) [Image](https://sms4smile.com/quotes/i/1cd/paul-samuelson-9078_boys_but-the-trouble-is-that-he-alan-greenspa_2946905.png) > [“An ideology is a conceptual framework, the way people deal with reality. Everyone has one. You have one. To exist, you need…](https://sms4smile.com/quotes/kathryn-schulz/an-ideology-is-a-conceptual-framework-the-way-people-deal-with/) [Kathryn Schulz](https://sms4smile.com/quotes/author/kathryn-schulz/) [Image](https://sms4smile.com/quotes/i/6c4/kathryn-schulz-7782_conceptual_an-ideology-is-a-conceptual-framework-th_971165.png) > [Remember, Alan Greenspan was a member of Ayn Rand's collective. To understand this is to understand why we are doomed with the…](https://sms4smile.com/quotes/peter-fonda/remember-alan-greenspan-was-a-member-of-ayn-rand-s-collective-to/) [Peter Fonda](https://sms4smile.com/quotes/author/peter-fonda/) [Image](https://sms4smile.com/quotes/i/b99/peter-fonda-17157_collectives_remember-alan-greenspan-was-a-member-of_824992.jpg) > [An online auction to benefit the Robert F. Kennedy Memorial, a human rights advocacy group, is selling tea with Alan Greenspan for…](https://sms4smile.com/quotes/seth-meyers/an-online-auction-to-benefit-the-robert-f-kennedy-memorial-a-human/) [Seth Meyers](https://sms4smile.com/quotes/author/seth-meyers/) [Image](https://sms4smile.com/quotes/i/e08/seth-meyers-3420_auction_an-online-auction-to-benefit-the-robert_3198857.jpg) > [ \[Ben Carson\] critics say that your inexperience shows. You've suggested that the Baltic States are not a part of NATO, you were… ](https://sms4smile.com/quotes/megyn-kelly/ben-carson-critics-say-that-your-inexperience-shows-you-ve-suggested/) [Megyn Kelly](https://sms4smile.com/quotes/author/megyn-kelly/) [Image](https://sms4smile.com/quotes/i/492/megyn-kelly-1440_ben-carson_ben-carson-critics-say-that-your-inexper_505147.png) > [I served on the budget committee in the Senate, and I remember as vividly as if it were yesterday when we had…](https://sms4smile.com/quotes/hillary-clinton/i-served-on-the-budget-committee-in-the-senate-and-i-remember-as/) [Hillary Clinton](https://sms4smile.com/quotes/author/hillary-clinton/) [Image](https://sms4smile.com/quotes/i/4bd/hillary-clinton-51_budgets_i-served-on-the-budget-committee-in-the_3131689.jpg) > [Remember, Alan Greenspan was a member of Ayn Rand's collePeoples will be as before, the sheep sent to the slaughterhouses or to…](https://sms4smile.com/quotes/peter-fonda/remember-alan-greenspan-was-a-member-of-ayn-rand-s-collepeoples-will/) [Peter Fonda](https://sms4smile.com/quotes/author/peter-fonda/) [Image](https://sms4smile.com/quotes/i/681/peter-fonda-17157_federal-reserve_remember-alan-greenspan-was-a-member-of_1888177.jpg) > [There is an enormous thrust in our time to have a simple answer. And that simple answer is that all depends on…](https://sms4smile.com/quotes/john-kenneth-galbraith/there-is-an-enormous-thrust-in-our-time-to-have-a-simple-answer-and/) [John Kenneth Galbraith](https://sms4smile.com/quotes/author/john-kenneth-galbraith/) [Image](https://sms4smile.com/quotes/i/436/john-kenneth-galbraith-643_acquaintance_there-is-an-enormous-thrust-in-our-time_1379761.png) > [For the last several decades, there was a prevailing belief among traditional economists that the markets were rational and self-correcting. Alan Greenspan…](https://sms4smile.com/quotes/kabir-sehgal/for-the-last-several-decades-there-was-a-prevailing-belief-among/) [Kabir Sehgal](https://sms4smile.com/quotes/author/kabir-sehgal/) [Image](https://sms4smile.com/quotes/i/3e6/kabir-sehgal-18015_belief_for-the-last-several-decades-there-was-a_2282405.jpg) > [“The job of the Federal Reserve is “to know when to remove the punch bowl at the party.” Under Alan Greenspan’s leadership…](https://sms4smile.com/quotes/said-elias-dawlabani/the-job-of-the-federal-reserve-is-to-know-when-to-remove-the-punch/) [Said Elias Dawlabani](https://sms4smile.com/quotes/author/said-elias-dawlabani/) [Image](https://sms4smile.com/quotes/i/fc1/said-elias-dawlabani-42369_alan-greenspan_the-job-of-the-federal-reserve-is-to-kno_394095.jpg) > [“Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble,” cried New York Times columnist Paul Krugman in 2002.8…](https://sms4smile.com/quotes/yaron-brook/alan-greenspan-needs-to-create-a-housing-bubble-to-replace-the-nasdaq/) [Yaron Brook](https://sms4smile.com/quotes/author/yaron-brook/) [Image](https://sms4smile.com/quotes/i/147/yaron-brook-25046_customer_alan-greenspan-needs-to-create-a-housing_2487056.jpg) > [“Former Federal Reserve chairman Alan Greenspan has actually argued that the federal government should buy and destroy surplus houses as a solution…](https://sms4smile.com/quotes/peter-schiff/former-federal-reserve-chairman-alan-greenspan-has-actually-argued/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) [Image](https://sms4smile.com/quotes/i/94e/peter-schiff-8095_customer_former-federal-reserve-chairman-alan-gre_3211842.jpg) > [Imagine a senator running for president whose positions included halving the military budget, socializing the medical system, re-regulating the communications and electrical…](https://sms4smile.com/quotes/rick-perlstein/imagine-a-senator-running-for-president-whose-positions-included/) [Rick Perlstein](https://sms4smile.com/quotes/author/rick-perlstein/) [Image](https://sms4smile.com/quotes/i/700/rick-perlstein-3637_budgets_imagine-a-senator-running-for-president_3104038.jpg) > [“Unlike old-fashioned Britain, where Tony Blair recruited Lord Levy to encourage his 'Friends of Israel' to donate their money to a party…](https://sms4smile.com/quotes/gilad-atzmon/unlike-old-fashioned-britain-where-tony-blair-recruited-lord-levy-to/) [Gilad Atzmon](https://sms4smile.com/quotes/author/gilad-atzmon/) [Image](https://sms4smile.com/quotes/i/5c3/gilad-atzmon-38763_customer_unlike-old-fashioned-britain-where-tony_1609817.jpg) > [ “Alan Greenspan, who would later become the Federal Reserve chairman, wrote in 1966: \[T\]he earnings saved by the productive members of the… ](https://sms4smile.com/quotes/andrew-p-napolitano/alan-greenspan-who-would-later-become-the-federal-reserve-chairman/) [Andrew P. Napolitano](https://sms4smile.com/quotes/author/andrew-p-napolitano/) [Image](https://sms4smile.com/quotes/i/be4/andrew-p-napolitano-41056_federal-reserve_alan-greenspan-who-would-later-become-th_1074577.jpg) > [“Back in July 2003, he’d written them a long essay on the causes and consequences of what he took to be a…](https://sms4smile.com/quotes/michael-lewis/back-in-july-2003-he-d-written-them-a-long-essay-on-the-causes-and/) [Michael Lewis](https://sms4smile.com/quotes/author/michael-lewis/) [Image](https://sms4smile.com/quotes/i/dde/michael-lewis-705_alan-greenspan_back-in-july-2003-he-d-written-them-a-lo_1874982.png) > [“The phone rang. It was a familiar voice. It was Alan Greenspan. Paul O'Neill had tried to stay in touch with people…](https://sms4smile.com/quotes/ron-suskind/the-phone-rang-it-was-a-familiar-voice-it-was-alan-greenspan-paul-o/) [Ron Suskind](https://sms4smile.com/quotes/author/ron-suskind/) [Image](https://sms4smile.com/quotes/i/c7f/ron-suskind-10115_alan-greenspan_the-phone-rang-it-was-a-familiar-voice-i_1369187.jpg) > [“The Fed is responsible for the financial markets. Financial markets hate inflation. Particularly bond markets. If the inflation rises, the Fed has…](https://sms4smile.com/quotes/dean-baker/the-fed-is-responsible-for-the-financial-markets-financial-markets/) [Dean Baker](https://sms4smile.com/quotes/author/dean-baker/) [Image](https://sms4smile.com/quotes/i/de2/dean-baker-56004_bond-market_the-fed-is-responsible-for-the-financial_2762545.jpg) > [The dirty little secret is that both houses of Congress are irrelevant. ... America's domestic policy is now being run by Alan…](https://sms4smile.com/quotes/robert-reich/the-dirty-little-secret-is-that-both-houses-of-congress-are/) [Robert Reich](https://sms4smile.com/quotes/author/robert-reich/) [Image](https://sms4smile.com/quotes/i/c8b/robert-reich-1333_america_the-dirty-little-secret-is-that-both-hou_1640191.png) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "ItemList", "@id": "https://sms4smile.com/quotes/about/alan-greenspan/#itemlist", "name": "Alan Greenspan Quotes", "numberOfItems": 27, "itemListElement": [ { "@type": "ListItem", "position": 1, "item": { "@type": "Quotation", "text": "Alan Greenspan is unskilled; you don't take the unskilled seriously.", "creator": { "@type": "Person", "name": "Nassim Nicholas Taleb" }, "url": "https://sms4smile.com/quotes/nassim-nicholas-taleb/alan-greenspan-is-unskilled-you-don-t-take-the-unskilled-seriously/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/5f2/nassim-nicholas-taleb-352_unskilled_alan-greenspan-is-unskilled-you-don-t-ta_1302601.png", "contentUrl": "https://sms4smile.com/quotes/i/5f2/nassim-nicholas-taleb-352_unskilled_alan-greenspan-is-unskilled-you-don-t-ta_1302601.png", "url": "https://sms4smile.com/quotes/i/5f2/nassim-nicholas-taleb-352_unskilled_alan-greenspan-is-unskilled-you-don-t-ta_1302601.png", "width": 1080, "height": 1080, "caption": "“Alan Greenspan is unskilled; 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You can take the boy out of the cult but you can't take the cult out of the boy.", "creator": { "@type": "Person", "name": "Paul Samuelson" }, "url": "https://sms4smile.com/quotes/paul-samuelson/but-the-trouble-is-that-he-alan-greenspan-had-been-an-ayn-rander-you/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/1cd/paul-samuelson-9078_boys_but-the-trouble-is-that-he-alan-greenspa_2946905.png", "contentUrl": "https://sms4smile.com/quotes/i/1cd/paul-samuelson-9078_boys_but-the-trouble-is-that-he-alan-greenspa_2946905.png", "url": "https://sms4smile.com/quotes/i/1cd/paul-samuelson-9078_boys_but-the-trouble-is-that-he-alan-greenspa_2946905.png", "width": 1080, "height": 1080, "caption": "“But the trouble is that he [Alan Greenspan] had been an Ayn Rander. You can take the boy out of the cult but…” — Paul Samuelson", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 10, "item": { "@type": "Quotation", "text": "“An ideology is a conceptual framework, the way people deal with reality. Everyone has one. You have one. To exist, you need an ideology.\" (Alan Greenspan) (p.127)”", "creator": { "@type": "Person", "name": "Kathryn Schulz" }, "url": "https://sms4smile.com/quotes/kathryn-schulz/an-ideology-is-a-conceptual-framework-the-way-people-deal-with/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/6c4/kathryn-schulz-7782_conceptual_an-ideology-is-a-conceptual-framework-th_971165.png", "contentUrl": "https://sms4smile.com/quotes/i/6c4/kathryn-schulz-7782_conceptual_an-ideology-is-a-conceptual-framework-th_971165.png", "url": "https://sms4smile.com/quotes/i/6c4/kathryn-schulz-7782_conceptual_an-ideology-is-a-conceptual-framework-th_971165.png", "width": 1080, "height": 1080, "caption": "“An ideology is a conceptual framework, the way people deal with reality. Everyone has one. You have one. To…” — Kathryn Schulz", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 11, "item": { "@type": "Quotation", "text": "Remember, Alan Greenspan was a member of Ayn Rand's collective. To understand this is to understand why we are doomed with the Federal Reserve", "creator": { "@type": "Person", "name": "Peter Fonda" }, "url": "https://sms4smile.com/quotes/peter-fonda/remember-alan-greenspan-was-a-member-of-ayn-rand-s-collective-to/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/b99/peter-fonda-17157_collectives_remember-alan-greenspan-was-a-member-of_824992.jpg", "contentUrl": "https://sms4smile.com/quotes/i/b99/peter-fonda-17157_collectives_remember-alan-greenspan-was-a-member-of_824992.jpg", "url": "https://sms4smile.com/quotes/i/b99/peter-fonda-17157_collectives_remember-alan-greenspan-was-a-member-of_824992.jpg", "width": 1080, "height": 1080, "caption": "“Remember, Alan Greenspan was a member of Ayn Rand's collective. 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Or, for twelve thousand, you can have the tea alone.", "creator": { "@type": "Person", "name": "Seth Meyers" }, "url": "https://sms4smile.com/quotes/seth-meyers/an-online-auction-to-benefit-the-robert-f-kennedy-memorial-a-human/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/e08/seth-meyers-3420_auction_an-online-auction-to-benefit-the-robert_3198857.jpg", "contentUrl": "https://sms4smile.com/quotes/i/e08/seth-meyers-3420_auction_an-online-auction-to-benefit-the-robert_3198857.jpg", "url": "https://sms4smile.com/quotes/i/e08/seth-meyers-3420_auction_an-online-auction-to-benefit-the-robert_3198857.jpg", "width": 1080, "height": 1080, "caption": "“An online auction to benefit the Robert F. Kennedy Memorial, a human rights advocacy group, is selling tea…” — Seth Meyers", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 13, "item": { "@type": "Quotation", "text": "[Ben Carson] critics say that your inexperience shows. You've suggested that the Baltic States are not a part of NATO, you were unfamiliar with the major political parties and government in Israel, and domestically, you thought Alan Greenspan had been treasury secretary instead of federal reserve chair.", "creator": { "@type": "Person", "name": "Megyn Kelly" }, "url": "https://sms4smile.com/quotes/megyn-kelly/ben-carson-critics-say-that-your-inexperience-shows-you-ve-suggested/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/492/megyn-kelly-1440_ben-carson_ben-carson-critics-say-that-your-inexper_505147.png", "contentUrl": "https://sms4smile.com/quotes/i/492/megyn-kelly-1440_ben-carson_ben-carson-critics-say-that-your-inexper_505147.png", "url": "https://sms4smile.com/quotes/i/492/megyn-kelly-1440_ben-carson_ben-carson-critics-say-that-your-inexper_505147.png", "width": 1080, "height": 1080, "caption": "“[Ben Carson] critics say that your inexperience shows. You've suggested that the Baltic States are not a…” — Megyn Kelly", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 14, "item": { "@type": "Quotation", "text": "I served on the budget committee in the Senate, and I remember as vividly as if it were yesterday when we had a hearing in which Alan Greenspan came and justified increasing spending and cutting taxes, saying that we didn't really need to pay down the debt - outrageous in my view.", "creator": { "@type": "Person", "name": "Hillary Clinton" }, "url": "https://sms4smile.com/quotes/hillary-clinton/i-served-on-the-budget-committee-in-the-senate-and-i-remember-as/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/4bd/hillary-clinton-51_budgets_i-served-on-the-budget-committee-in-the_3131689.jpg", "contentUrl": "https://sms4smile.com/quotes/i/4bd/hillary-clinton-51_budgets_i-served-on-the-budget-committee-in-the_3131689.jpg", "url": "https://sms4smile.com/quotes/i/4bd/hillary-clinton-51_budgets_i-served-on-the-budget-committee-in-the_3131689.jpg", "width": 1080, "height": 1080, "caption": "“I served on the budget committee in the Senate, and I remember as vividly as if it were yesterday when we…” — Hillary Clinton", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 15, "item": { "@type": "Quotation", "text": "Remember, Alan Greenspan was a member of Ayn Rand's collePeoples will be as before, the sheep sent to the slaughterhouses or to the meadows as it pleases the shepherds. ctive. To understand this is to understand why we are doomed with the Federal Reserve.", "creator": { "@type": "Person", "name": "Peter Fonda" }, "url": "https://sms4smile.com/quotes/peter-fonda/remember-alan-greenspan-was-a-member-of-ayn-rand-s-collepeoples-will/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/681/peter-fonda-17157_federal-reserve_remember-alan-greenspan-was-a-member-of_1888177.jpg", "contentUrl": "https://sms4smile.com/quotes/i/681/peter-fonda-17157_federal-reserve_remember-alan-greenspan-was-a-member-of_1888177.jpg", "url": "https://sms4smile.com/quotes/i/681/peter-fonda-17157_federal-reserve_remember-alan-greenspan-was-a-member-of_1888177.jpg", "width": 1080, "height": 1080, "caption": "“Remember, Alan Greenspan was a member of Ayn Rand's collePeoples will be as before, the sheep sent to the…” — Peter Fonda", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 16, "item": { "@type": "Quotation", "text": "There is an enormous thrust in our time to have a simple answer. And that simple answer is that all depends on Alan Greenspan and the Federal Reserve. And Alan, who is an old acquaintance of mine, is a marvelous performer in the impression he gives of enormously great perception.", "creator": { "@type": "Person", "name": "John Kenneth Galbraith" }, "url": "https://sms4smile.com/quotes/john-kenneth-galbraith/there-is-an-enormous-thrust-in-our-time-to-have-a-simple-answer-and/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/436/john-kenneth-galbraith-643_acquaintance_there-is-an-enormous-thrust-in-our-time_1379761.png", "contentUrl": "https://sms4smile.com/quotes/i/436/john-kenneth-galbraith-643_acquaintance_there-is-an-enormous-thrust-in-our-time_1379761.png", "url": "https://sms4smile.com/quotes/i/436/john-kenneth-galbraith-643_acquaintance_there-is-an-enormous-thrust-in-our-time_1379761.png", "width": 1080, "height": 1080, "caption": "“There is an enormous thrust in our time to have a simple answer. And that simple answer is that all depends…” — John Kenneth Galbraith", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 17, "item": { "@type": "Quotation", "text": "For the last several decades, there was a prevailing belief among traditional economists that the markets were rational and self-correcting. Alan Greenspan advocated this view. But the 2008 financial crisis showed that this view is incorrect, and Greenspan eventually admitted as much.", "creator": { "@type": "Person", "name": "Kabir Sehgal" }, "url": "https://sms4smile.com/quotes/kabir-sehgal/for-the-last-several-decades-there-was-a-prevailing-belief-among/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/3e6/kabir-sehgal-18015_belief_for-the-last-several-decades-there-was-a_2282405.jpg", "contentUrl": "https://sms4smile.com/quotes/i/3e6/kabir-sehgal-18015_belief_for-the-last-several-decades-there-was-a_2282405.jpg", "url": "https://sms4smile.com/quotes/i/3e6/kabir-sehgal-18015_belief_for-the-last-several-decades-there-was-a_2282405.jpg", "width": 1080, "height": 1080, "caption": "“For the last several decades, there was a prevailing belief among traditional economists that the markets…” — Kabir Sehgal", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 18, "item": { "@type": "Quotation", "text": "“The job of the Federal Reserve is “to know when to remove the punch bowl at the party.” Under Alan Greenspan’s leadership its motto became “let’s all get drunk and see what happens.” It is now the morning after and the world will be dealing with Greenspan’s hangover for the next several decades.”", "creator": { "@type": "Person", "name": "Said Elias Dawlabani" }, "url": "https://sms4smile.com/quotes/said-elias-dawlabani/the-job-of-the-federal-reserve-is-to-know-when-to-remove-the-punch/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/fc1/said-elias-dawlabani-42369_alan-greenspan_the-job-of-the-federal-reserve-is-to-kno_394095.jpg", "contentUrl": "https://sms4smile.com/quotes/i/fc1/said-elias-dawlabani-42369_alan-greenspan_the-job-of-the-federal-reserve-is-to-kno_394095.jpg", "url": "https://sms4smile.com/quotes/i/fc1/said-elias-dawlabani-42369_alan-greenspan_the-job-of-the-federal-reserve-is-to-kno_394095.jpg", "width": 1080, "height": 1080, "caption": "“The job of the Federal Reserve is “to know when to remove the punch bowl at the party.” Under Alan…” — Said Elias Dawlabani", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 19, "item": { "@type": "Quotation", "text": "“Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble,” cried New York Times columnist Paul Krugman in 2002.8 And that’s exactly what Greenspan did. Much of the new cash that flooded into the market as a result of his policies went into real estate, where small fluctuations in interest rates have a huge impact on prices.”", "creator": { "@type": "Person", "name": "Yaron Brook" }, "url": "https://sms4smile.com/quotes/yaron-brook/alan-greenspan-needs-to-create-a-housing-bubble-to-replace-the-nasdaq/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/147/yaron-brook-25046_customer_alan-greenspan-needs-to-create-a-housing_2487056.jpg", "contentUrl": "https://sms4smile.com/quotes/i/147/yaron-brook-25046_customer_alan-greenspan-needs-to-create-a-housing_2487056.jpg", "url": "https://sms4smile.com/quotes/i/147/yaron-brook-25046_customer_alan-greenspan-needs-to-create-a-housing_2487056.jpg", "width": 1080, "height": 1080, "caption": "“Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble,” cried New York Times…” — Yaron Brook", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 20, "item": { "@type": "Quotation", "text": "“Former Federal Reserve chairman Alan Greenspan has actually argued that the federal government should buy and destroy surplus houses as a solution to the housing crisis. According to Greenspan, the problem is that prices are too low. If we reduced the supply of houses, prices would rise. While Greenspan is correct, the destruction of our housing stock so that the remaining homes will be more valuable is the ultimate in economic folly.”", "creator": { "@type": "Person", "name": "Peter Schiff" }, "url": "https://sms4smile.com/quotes/peter-schiff/former-federal-reserve-chairman-alan-greenspan-has-actually-argued/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/94e/peter-schiff-8095_customer_former-federal-reserve-chairman-alan-gre_3211842.jpg", "contentUrl": "https://sms4smile.com/quotes/i/94e/peter-schiff-8095_customer_former-federal-reserve-chairman-alan-gre_3211842.jpg", "url": "https://sms4smile.com/quotes/i/94e/peter-schiff-8095_customer_former-federal-reserve-chairman-alan-gre_3211842.jpg", "width": 1080, "height": 1080, "caption": "“Former Federal Reserve chairman Alan Greenspan has actually argued that the federal government should buy…” — Peter Schiff", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 21, "item": { "@type": "Quotation", "text": "Imagine a senator running for president whose positions included halving the military budget, socializing the medical system, re-regulating the communications and electrical industries, establishing a guaranteed minimum income for all Americans, and equalizing funding for all schools regardless of property valuations - and who promised to fire Alan Greenspan, counseled withdrawal from the World Trade Organization, and, for good measure, spoke warmly of adolescent sexual experimentation. That was Barry Goldwater, conservative.", "creator": { "@type": "Person", "name": "Rick Perlstein" }, "url": "https://sms4smile.com/quotes/rick-perlstein/imagine-a-senator-running-for-president-whose-positions-included/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/700/rick-perlstein-3637_budgets_imagine-a-senator-running-for-president_3104038.jpg", "contentUrl": "https://sms4smile.com/quotes/i/700/rick-perlstein-3637_budgets_imagine-a-senator-running-for-president_3104038.jpg", "url": "https://sms4smile.com/quotes/i/700/rick-perlstein-3637_budgets_imagine-a-senator-running-for-president_3104038.jpg", "width": 1080, "height": 1080, "caption": "“Imagine a senator running for president whose positions included halving the military budget, socializing…” — Rick Perlstein", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 22, "item": { "@type": "Quotation", "text": "“Unlike old-fashioned Britain, where Tony Blair recruited Lord Levy to encourage his 'Friends of Israel' to donate their money to a party that was just about to launch a criminal war, in America Alan Greenspan provided his president with an astonishing economic boom. It seems that the prosperous conditions at home divert the attention from the disastrous war in Iraq. Greenspan is not an amateur economist, he knew what he was doing. He knew very well that as long as Americans were doing well, buying and selling homes, his President would be able to continue implementing the 'Wolfowitz doctrine' and PNAC philosophy, destroying the 'bad Arabs' in the name of 'democracy', 'liberalism', 'ethics', and even 'women's rights'.”", "creator": { "@type": "Person", "name": "Gilad Atzmon" }, "url": "https://sms4smile.com/quotes/gilad-atzmon/unlike-old-fashioned-britain-where-tony-blair-recruited-lord-levy-to/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/5c3/gilad-atzmon-38763_customer_unlike-old-fashioned-britain-where-tony_1609817.jpg", "contentUrl": "https://sms4smile.com/quotes/i/5c3/gilad-atzmon-38763_customer_unlike-old-fashioned-britain-where-tony_1609817.jpg", "url": "https://sms4smile.com/quotes/i/5c3/gilad-atzmon-38763_customer_unlike-old-fashioned-britain-where-tony_1609817.jpg", "width": 1080, "height": 1080, "caption": "“Unlike old-fashioned Britain, where Tony Blair recruited Lord Levy to encourage his 'Friends of Israel' to…” — Gilad Atzmon", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 23, "item": { "@type": "Quotation", "text": "“Alan Greenspan, who would later become the Federal Reserve chairman, wrote in 1966: [T]he earnings saved by the productive members of the society lose value in terms of goods. When the economy’s books are finally balanced, one finds that this loss in value represents the goods purchased by the government for welfare and other purposes. . . . In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. . . . This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the “hidden” confiscation of wealth.24”", "creator": { "@type": "Person", "name": "Andrew P. Napolitano" }, "url": "https://sms4smile.com/quotes/andrew-p-napolitano/alan-greenspan-who-would-later-become-the-federal-reserve-chairman/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/be4/andrew-p-napolitano-41056_federal-reserve_alan-greenspan-who-would-later-become-th_1074577.jpg", "contentUrl": "https://sms4smile.com/quotes/i/be4/andrew-p-napolitano-41056_federal-reserve_alan-greenspan-who-would-later-become-th_1074577.jpg", "url": "https://sms4smile.com/quotes/i/be4/andrew-p-napolitano-41056_federal-reserve_alan-greenspan-who-would-later-become-th_1074577.jpg", "width": 1080, "height": 1080, "caption": "“Alan Greenspan, who would later become the Federal Reserve chairman, wrote in 1966: [T]he earnings saved by…” — Andrew P. Napolitano", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 24, "item": { "@type": "Quotation", "text": "“Back in July 2003, he’d written them a long essay on the causes and consequences of what he took to be a likely housing crash: “Alan Greenspan assures us that home prices are not prone to bubbles—or major deflations—on any national scale,” he’d said. “This is ridiculous, of course…. In 1933, during the fourth year of the Great Depression, the United States found itself in the midst of a housing crisis that put housing starts at 10% of the level of 1925. Roughly half of all mortgage debt was in default. During the 1930s, housing prices collapsed nationwide by roughly 80%.”", "creator": { "@type": "Person", "name": "Michael Lewis" }, "url": "https://sms4smile.com/quotes/michael-lewis/back-in-july-2003-he-d-written-them-a-long-essay-on-the-causes-and/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/dde/michael-lewis-705_alan-greenspan_back-in-july-2003-he-d-written-them-a-lo_1874982.png", "contentUrl": "https://sms4smile.com/quotes/i/dde/michael-lewis-705_alan-greenspan_back-in-july-2003-he-d-written-them-a-lo_1874982.png", "url": "https://sms4smile.com/quotes/i/dde/michael-lewis-705_alan-greenspan_back-in-july-2003-he-d-written-them-a-lo_1874982.png", "width": 1080, "height": 1080, "caption": "“Back in July 2003, he’d written them a long essay on the causes and consequences of what he took to be a…” — Michael Lewis", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 25, "item": { "@type": "Quotation", "text": "“The phone rang. It was a familiar voice. It was Alan Greenspan. Paul O'Neill had tried to stay in touch with people who had served under Gerald Ford, and he'd been reasonably conscientious about it. Alan Greenspan was the exception. In his case, the effort was constant and purposeful. When Greenspan was the chairman of Ford's Council of Economic Advisers, and O'Neill was number two at OMB, they had become a kind of team. Never social so much. They never talked about families or outside interests. It was all about ideas: Medicare financing or block grants - a concept that O'Neill basically invented to balance federal power and local autonomy - or what was really happening in the economy. It became clear that they thought well together. President Ford used to have them talk about various issues while he listened. After a while, each knew how the other's mind worked, the way married couples do. In the past fifteen years, they'd made a point of meeting every few months. It could be in New York, or Washington, or Pittsburgh. They talked about everything, just as always. Greenspan, O'Neill told a friend, \"doesn't have many people who don't want something from him, who will talk straight to him. So that's what we do together - straight talk.\" O'Neill felt some straight talk coming in. \"Paul, I'll be blunt. We really need you down here,\" Greenspan said. \"There is a real chance to make lasting changes. We could be a team at the key moment, to do the things we've always talked about.\" The jocular tone was gone. This was a serious discussion. They digressed into some things they'd \"always talked about,\" especially reforming Medicare and Social Security. For Paul and Alan, the possibility of such bold reinventions bordered on fantasy, but fantasy made real. \"We have an extraordinary opportunity,\" Alan said. Paul noticed that he seemed oddly anxious. \"Paul, your presence will be an enormous asset in the creation of sensible policy.\" Sensible policy. This was akin to prayer from Greenspan. O'Neill, not expecting such conviction from his old friend, said little. After a while, he just thanked Alan. He said he always respected his counsel. He said he was thinking hard about it, and he'd call as soon as he decided what to do. The receiver returned to its cradle. He thought about Greenspan. They were young men together in the capital. Alan stayed, became the most noteworthy Federal Reserve Bank chairman in modern history and, arguably the most powerful public official of the past two decades. O'Neill left, led a corporate army, made a fortune, and learned lessons - about how to think and act, about the importance of outcomes - that you can't ever learn in a government. But, he supposed, he'd missed some things. There were always trade-offs. Talking to Alan reminded him of that. Alan and his wife, Andrea Mitchell, White House correspondent for NBC news, lived a fine life. They weren't wealthy like Paul and Nancy. But Alan led a life of highest purpose, a life guided by inquiry. Paul O'Neill picked up the telephone receiver, punched the keypad. \"It's me,\" he said, always his opening. He started going into the details of his trip to New York from Washington, but he's not much of a phone talker - Nancy knew that - and the small talk trailed off. \"I think I'm going to have to do this.\" She was quiet. \"You know what I think,\" she said. She knew him too well, maybe. How bullheaded he can be, once he decides what's right. How he had loved these last few years as a sovereign, his own man. How badly he was suited to politics, as it was being played. And then there was that other problem: she'd almost always been right about what was best for him. \"Whatever, Paul. I'm behind you. If you don't do this, I guess you'll always regret it.\" But it was clearly about what he wanted, what he needed. Paul thanked her. Though somehow a thank-you didn't seem appropriate. And then he realized she was crying.”", "creator": { "@type": "Person", "name": "Ron Suskind" }, "url": "https://sms4smile.com/quotes/ron-suskind/the-phone-rang-it-was-a-familiar-voice-it-was-alan-greenspan-paul-o/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/c7f/ron-suskind-10115_alan-greenspan_the-phone-rang-it-was-a-familiar-voice-i_1369187.jpg", "contentUrl": "https://sms4smile.com/quotes/i/c7f/ron-suskind-10115_alan-greenspan_the-phone-rang-it-was-a-familiar-voice-i_1369187.jpg", "url": "https://sms4smile.com/quotes/i/c7f/ron-suskind-10115_alan-greenspan_the-phone-rang-it-was-a-familiar-voice-i_1369187.jpg", "width": 1080, "height": 1080, "caption": "“The phone rang. It was a familiar voice. It was Alan Greenspan. Paul O'Neill had tried to stay in touch with…” — Ron Suskind", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 26, "item": { "@type": "Quotation", "text": "“The Fed is responsible for the financial markets. Financial markets hate inflation. Particularly bond markets. If the inflation rises, the Fed has to answer to them. If the unemployment rate is 6% and you could be down at 4% so that means there are 5 million people out of work unnecessarily, they might feel bad about it but they don’t have to answer to them. Alan Greenspan will not get called on the carpet because of that but he will get called on it if inflation goes to 4%. What are you doing! How come you are not jacking up interest rates? There is a huge asymmetry. This is the politics of the Fed. The Fed is very well isolated from democratic political pressures but it is not hard for the financial markets to influence the Fed. We have this NAIRU doctrine that if we let the unemployment rate get below 6% we have inflation and therefore we are going to deliberately raise the interest rate to slow the economy to keep people from getting jobs. No one knows that.”", "creator": { "@type": "Person", "name": "Dean Baker" }, "url": "https://sms4smile.com/quotes/dean-baker/the-fed-is-responsible-for-the-financial-markets-financial-markets/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/de2/dean-baker-56004_bond-market_the-fed-is-responsible-for-the-financial_2762545.jpg", "contentUrl": "https://sms4smile.com/quotes/i/de2/dean-baker-56004_bond-market_the-fed-is-responsible-for-the-financial_2762545.jpg", "url": "https://sms4smile.com/quotes/i/de2/dean-baker-56004_bond-market_the-fed-is-responsible-for-the-financial_2762545.jpg", "width": 1080, "height": 1080, "caption": "“The Fed is responsible for the financial markets. Financial markets hate inflation. Particularly bond…” — Dean Baker", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } }, { "@type": "ListItem", "position": 27, "item": { "@type": "Quotation", "text": "The dirty little secret is that both houses of Congress are irrelevant. ... America's domestic policy is now being run by Alan Greenspan and the Federal Reserve, and America's foreign policy is now being run by the International Monetary Fund [IMF]. ...when the president decides to go to war, he no longer needs a declaration of war from Congress.", "creator": { "@type": "Person", "name": "Robert Reich" }, "url": "https://sms4smile.com/quotes/robert-reich/the-dirty-little-secret-is-that-both-houses-of-congress-are/", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/c8b/robert-reich-1333_america_the-dirty-little-secret-is-that-both-hou_1640191.png", "contentUrl": "https://sms4smile.com/quotes/i/c8b/robert-reich-1333_america_the-dirty-little-secret-is-that-both-hou_1640191.png", "url": "https://sms4smile.com/quotes/i/c8b/robert-reich-1333_america_the-dirty-little-secret-is-that-both-hou_1640191.png", "width": 1080, "height": 1080, "caption": "“The dirty little secret is that both houses of Congress are irrelevant. ... America's domestic policy is now…” — Robert Reich", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } } } ] }, { "@type": "CollectionPage", "@id": "https://sms4smile.com/quotes/about/alan-greenspan/#webpage", "url": "https://sms4smile.com/quotes/about/alan-greenspan/", "name": "Alan Greenspan Quotes", "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "mainEntity": { "@id": "https://sms4smile.com/quotes/about/alan-greenspan/#itemlist" }, "primaryImageOfPage": { "@id": "https://sms4smile.com/quotes/i/5f2/nassim-nicholas-taleb-352_unskilled_alan-greenspan-is-unskilled-you-don-t-ta_1302601.png" }, "description": "Browse 27 Alan Greenspan quotes by 26 authors. 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