History demonstrates that participants in financial markets are susceptible to waves of optimism.
ALAN GREENSPANRecent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
More Alan Greenspan Quotes
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These days, even out of office, I still read economic reports.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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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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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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Market financed withdrawals of home equity in recent years.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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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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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
ALAN GREENSPAN