While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
ALAN GREENSPANSo there is no reason to suspect that the actual process of boosting rates would be any different.
More Alan Greenspan Quotes
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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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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The process of innovation is, of course, never ending.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
ALAN GREENSPAN -
I’m a better economist than I was a sax player.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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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.
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If I say something which you understand fully in this regard, I probably made a mistake.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
ALAN GREENSPAN