We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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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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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
ALAN GREENSPAN -
I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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The Iraq War is largely about oil.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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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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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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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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History cannot be reduced to a set of statistics and probabilities.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
ALAN GREENSPAN -
The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
ALAN GREENSPAN






