Significantly opening up immigration to skilled workers solves two problems.
ALAN GREENSPANAnd whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
More Alan Greenspan Quotes
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And she always has so much fun doing it. We make a good team.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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History cannot be reduced to a set of statistics and probabilities.
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Revolutions are something you see only in retrospect.
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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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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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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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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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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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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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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
ALAN GREENSPAN