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.
ALAN GREENSPANThe 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…
More Alan Greenspan Quotes
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I 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.
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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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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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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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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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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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The free lunch has still to be invented.
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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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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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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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So there is no reason to suspect that the actual process of boosting rates would be any different.
ALAN GREENSPAN






