How do we know when irrational exuberance has unduly escalated asset values?
ALAN GREENSPANYet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
More Alan Greenspan Quotes
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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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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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I’m a plain soap kind of guy.
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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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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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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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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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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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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.
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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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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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Significantly opening up immigration to skilled workers solves two problems.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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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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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
ALAN GREENSPAN