I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
ALAN GREENSPANFear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
More Alan Greenspan Quotes
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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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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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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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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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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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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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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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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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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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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.
ALAN GREENSPAN