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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.

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Creative Destructive Enormous Stage List Yet

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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Capitalism Condition Crony Essentially Favour Private Public
There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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Context Mean Price Psychology Thermometer Underlying
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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Another Commodity Counterparty Derivative Gold Often Private Restrict Supply Trade
In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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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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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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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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Alternative Benefit Choice Judgement Policy Probability
If I seem unduly clear to you, you must have misunderstood what I said.
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Clear Misunderstood Must Said Seen Unduly
Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
ALAN GREENSPAN

Creative Destructive Enormous Stage List Yet
Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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If I say something which you understand fully in this regard, I probably made a mistake.
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How do we know when irrational exuberance has unduly escalated asset values?
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Revolutions are something you see only in retrospect.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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