If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
ALAN GREENSPANRemember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
More Alan Greenspan Quotes
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Indeed, better risk management may be the only truly necessary element of success in banking.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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And she always has so much fun doing it. We make a good team.
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There is no evidence that the business cycle has been repealed.
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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 didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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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.
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The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
ALAN GREENSPAN