Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
ALAN GREENSPANYet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
More Alan Greenspan Quotes
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If I say something which you understand fully in this regard, I probably made a mistake.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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If I’ve made myself clear, I’ve misspoken.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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The worst have failed; investors no longer fund them and are not likely to in the future.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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We 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: ].
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I’m a plain soap kind of guy.
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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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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.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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The need for values is inbred. Their content is not.
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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
ALAN GREENSPAN