We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
Alan GreenspanSignificantly opening up immigration to skilled workers solves two problems. The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
Alan GreenspanCash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
Alan GreenspanI cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
Alan GreenspanWithout calling the overall national issue a bubble, it's pretty clear that it's an unsustainable underlying pattern.
Alan GreenspanWe ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ] if we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
Alan Greenspan