I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
ALAN GREENSPANBut rules cannot substitute for character.
More Alan Greenspan Quotes
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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The need for values is inbred. Their content is not.
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What an ideology is is a conceptual framework with the way people deal with reality.
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Productivity is notoriously difficult to predict.
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No one has ever eliminated any of that stuff.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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All taxes are a drag on economic growth. It’s only a question of degree.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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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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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
ALAN GREENSPAN