The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
ALAN GREENSPANNo one has ever eliminated any of that stuff.
More Alan Greenspan Quotes
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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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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Amateurs want to be right. Professionals want to make money.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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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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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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Market financed withdrawals of home equity in recent years.
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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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How do we know when irrational exuberance has unduly escalated asset values?
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The tub helps me relax, and it’s a great place to read.
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If I’ve made myself clear, I’ve misspoken.
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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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The need for values is inbred. Their content is not.
ALAN GREENSPAN