Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
ALAN GREENSPANYet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
More Alan Greenspan Quotes
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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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I’m a plain soap kind of guy.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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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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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
ALAN GREENSPAN