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.
ALAN GREENSPANIn an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
More Alan Greenspan Quotes
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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
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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.
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The tub helps me relax, and it’s a great place to read.
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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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There are no easy choices. Easy choices are long gone.
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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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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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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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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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The free lunch has still to be invented.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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No one has ever eliminated any of that stuff.
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All taxes are a drag on economic growth. It’s only a question of degree.
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Productivity is notoriously difficult to predict.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
ALAN GREENSPAN