I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
ALAN GREENSPANThe economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
More Alan Greenspan Quotes
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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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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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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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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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Amateurs want to be right. Professionals want to make money.
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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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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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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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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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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.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Significantly opening up immigration to skilled workers solves two problems.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
ALAN GREENSPAN