In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
ALAN GREENSPANWhat we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
More Alan Greenspan Quotes
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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 free lunch has still to be invented.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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The tub helps me relax, and it’s a great place to read.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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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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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
ALAN GREENSPAN -
Significantly opening up immigration to skilled workers solves two problems.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
ALAN GREENSPAN -
Senator, if I seem clear to you, you must have misunderstood me’.
ALAN GREENSPAN -
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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Gold still represents the ultimate form of payment in the world.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
ALAN GREENSPAN