The worst have failed; investors no longer fund them and are not likely to in the future.
ALAN GREENSPANI’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
More Alan Greenspan Quotes
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The tub helps me relax, and it’s a great place to read.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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Significantly opening up immigration to skilled workers solves two problems.
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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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And the percentage changes in wage rates would be the same for all job grades.
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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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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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Anything that we can do to raise personal savings is very much in the interest of this country.
ALAN GREENSPAN