This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPANIf I’ve made myself clear, I’ve misspoken.
More Alan Greenspan Quotes
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
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Senator, if I seem clear to you, you must have misunderstood me’.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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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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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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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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Excessive optimism sows the seeds of its own reversal.
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History cannot be reduced to a set of statistics and probabilities.
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Whatever you tax you get less of.
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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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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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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If I say something which you understand fully in this regard, I probably made a mistake.
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Derivatives have permitted the unbundling of financial risks.
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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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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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There is no evidence that the business cycle has been repealed.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
ALAN GREENSPAN