The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
ALAN GREENSPANThey then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
More Alan Greenspan Quotes
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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Significantly opening up immigration to skilled workers solves two problems.
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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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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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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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
ALAN GREENSPAN