I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
ALAN GREENSPANAll taxes are a drag on economic growth. It’s only a question of degree.
More Alan Greenspan Quotes
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I’m a plain soap kind of guy.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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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 companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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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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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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
ALAN GREENSPAN