Amateurs want to be right. Professionals want to make money.
ALAN GREENSPANI am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
More Alan Greenspan Quotes
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Indeed, better risk management may be the only truly necessary element of success in banking.
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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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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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History cannot be reduced to a set of statistics and probabilities.
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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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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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The Iraq War is largely about oil.
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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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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The process of innovation is, of course, never ending.
ALAN GREENSPAN