But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
ALAN GREENSPANThe free lunch has still to be invented.
More Alan Greenspan Quotes
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All taxes are a drag on economic growth. It’s only a question of degree.
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What an ideology is is a conceptual framework with the way people deal with reality.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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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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Credit-default swaps, I think, have serious problems associated with them.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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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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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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If you think you understand what I am saying you do not understand what I am saying.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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Gold still represents the ultimate form of payment in the world.
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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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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
ALAN GREENSPAN