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.
ALAN GREENSPANYet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
More Alan Greenspan Quotes
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It’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.
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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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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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History cannot be reduced to a set of statistics and probabilities.
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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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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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Rules cannot take the place of character.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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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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They seem to sense… that gold and economic freedom are inseparable.
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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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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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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.
ALAN GREENSPAN