Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
ALAN GREENSPANIt’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
More Alan Greenspan Quotes
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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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 we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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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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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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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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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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Amateurs want to be right. Professionals want to make money.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
ALAN GREENSPAN






