"Managers will work for a salary. Entrepreneurs create new businesses. Many people have capital, but instead of making money for business they build houses for rent. It's easy money to collect rental."

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I don't think it's possible for the Fed to end its easy-money policies in a trouble-free manner. Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets, so there is no reason to suspect that the actual process of boosting rates would be any different. I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.

— Alan Greenspan