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Productivity is notoriously difficult to predict.

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Difficult Notorious Predict Productivity

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
ALAN GREENSPAN

Absence Confiscation God Inflation Protect Save
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.
ALAN GREENSPAN

Adequate Ago Buffer Decline Deep Home One Piece Purchase Residence Year
If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
ALAN GREENSPAN

Consequence Country Degree Income Reduce Skill Supply Unable Wage Work
History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPAN

Aftermath Dealt History Period Premium Protracted Risk
If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
ALAN GREENSPAN

Antagonism Difficulty Gold Grasp Standard Statistic Understanding
The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
ALAN GREENSPAN

Abandonment Banking Credit Gold Made Possible Standard Statics System Use Welfare
The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
ALAN GREENSPAN

Confront Expectation Frightened Lack Problem Regulation Unrealistic
If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
ALAN GREENSPAN

Cold Currency Down Gold Mine Move Question Relative Together
I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
ALAN GREENSPAN

Always Amaze Day Different Foreign Handle Next Policy Politics Subject Wife
Derivatives have permitted the unbundling of financial risks.
ALAN GREENSPAN

Derivative Financial Permit Risk Unbound
I’m a better economist than I was a sax player.
ALAN GREENSPAN

Better Economist Player
The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
ALAN GREENSPAN

Already Economic Evidence Expansion Increasingly Influence Recent Suggest Underway Well
Rules cannot take the place of character.
ALAN GREENSPAN

Character Place Rule
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.
ALAN GREENSPAN

Animosity Between Descriptive E Even Government More Out Since Street Suspect Type Wall
An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
ALAN GREENSPAN

Almost Antagonism Gold Issue Persuasion Standard Towards Unite
They seem to sense… that gold and economic freedom are inseparable.
ALAN GREENSPAN

Economic Freedom Gold Inseparable See Sense

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