I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
ALAN GREENSPANThis decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
More Alan Greenspan Quotes
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Political decisions are never random and will always lose out to innovative alternatives.
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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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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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The need for values is inbred. Their content is not.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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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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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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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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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
ALAN GREENSPAN