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.
ALAN GREENSPANClearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
More Alan Greenspan Quotes
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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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.
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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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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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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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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All taxes are a drag on economic growth. It’s only a question of degree.
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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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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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
ALAN GREENSPAN