Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
ALAN GREENSPANIf all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
More Alan Greenspan Quotes
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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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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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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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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Amateurs want to be right. Professionals want to make money.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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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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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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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
ALAN GREENSPAN