Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
ALAN GREENSPANIt has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
More Alan Greenspan Quotes
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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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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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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If I say something which you understand fully in this regard, I probably made a mistake.
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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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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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These days, even out of office, I still read economic reports.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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All taxes are a drag on economic growth. It’s only a question of degree.
ALAN GREENSPAN