What an ideology is is a conceptual framework with the way people deal with reality.
ALAN GREENSPANYou can’t have the capitalist system if an increasing number of people think it is unjust.
More Alan Greenspan Quotes
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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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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
ALAN GREENSPAN -
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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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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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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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
ALAN GREENSPAN -
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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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
ALAN GREENSPAN