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Non-Tech : Greenspan, Rubin & Co - the Most Irresponsible Team Ever??
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To: Tom M who wrote (122)2/2/1999 8:44:00 AM
From: Cynic 2005  Read Replies (1) of 309
 
=====>>Chronicles of Greenspan Blunders =====>> Quotes of Greenspan
"As I have testified before the Congress many times, I believe, at root, the remarkable generation of capital gains of recent years has resulted from the dramatic fall in inflation expectations and associated risk premiums."

"Capital investment, especially in high-tech equipment, has accelerated dramatically since 1993, presumably reflecting a perception on the part of businesses that the application of these emerging technological synergies would engender a significant increase in rates of return on new investment."

"Moreover, the impressive capital gains of recent years would seem also to rest on a perception of relatively low risk in corporate ownership."

"While discussions of consumer spending often continue to emphasize current income from labor and capital as the prime sources of funds, during the 1990s, capital gains, which reflect the valuation of expected future incomes, have taken on a more prominent role in driving our economy."

"There is little doubt that capital gains have increased consumption relative to income from current production over recent years."

"Reported personal income is reduced when corporations cut back payments into defined-benefit pension plans owing to higher equity prices."
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