In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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Excessive optimism sows the seeds of its own reversal.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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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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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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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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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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Derivatives have permitted the unbundling of financial risks.
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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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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.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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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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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
ALAN GREENSPAN