It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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Political decisions are never random and will always lose out to innovative alternatives.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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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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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPAN