Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
ALAN GREENSPANCredit-default swaps, I think, have serious problems associated with them.
More Alan Greenspan Quotes
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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But rules cannot substitute for character.
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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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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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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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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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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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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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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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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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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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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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I have long argued that paying down the national debt is beneficial for the economy.
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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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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
ALAN GREENSPAN