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.
ALAN GREENSPANI was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
More Alan Greenspan Quotes
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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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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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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Market financed withdrawals of home equity in recent years.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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If I’ve made myself clear, I’ve misspoken.
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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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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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
ALAN GREENSPAN -
Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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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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I’m a better economist than I was a sax player.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
ALAN GREENSPAN