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 GREENSPANWithout calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
More Alan Greenspan Quotes
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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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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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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Senator, if I seem clear to you, you must have misunderstood me’.
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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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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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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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You can’t have the capitalist system if an increasing number of people think it is unjust.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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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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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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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.
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There is no evidence that the business cycle has been repealed.
ALAN GREENSPAN