Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
ALAN GREENSPANIt is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
More Alan Greenspan Quotes
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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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.
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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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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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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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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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Significantly opening up immigration to skilled workers solves two problems.
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But rules cannot substitute for character.
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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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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPAN