Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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 only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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The process of innovation is, of course, never ending.
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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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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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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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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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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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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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How do we know when irrational exuberance has unduly escalated asset values?
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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.
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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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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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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
ALAN GREENSPAN