Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
ALAN GREENSPANFiat money in extremis is accepted by nobody. Gold is always accepted.
More Alan Greenspan Quotes
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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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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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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These days, even out of office, I still read economic reports.
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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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Remember 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.
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History cannot be reduced to a set of statistics and probabilities.
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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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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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Credit-default swaps, I think, have serious problems associated with them.
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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 GREENSPAN