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 GREENSPANI am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
More Alan Greenspan Quotes
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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Credit-default swaps, I think, have serious problems associated with them.
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Rules cannot take the place of character.
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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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I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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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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Revolutions are something you see only in retrospect.
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The 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.
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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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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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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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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
ALAN GREENSPAN