In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
ALAN GREENSPANAlthough the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
More Alan Greenspan Quotes
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Greenspan, who knew so much more than most, knew far less than most supposed.
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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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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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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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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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If I seem unduly clear to you, you must have misunderstood what I said.
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Amateurs want to be right. Professionals want to make money.
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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.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
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All taxes are a drag on economic growth. It’s only a question of degree.
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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
ALAN GREENSPAN