Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
ALAN GREENSPANIf we are dealing with psychology, then the thermometers one uses to measure it have an effect.
More Alan Greenspan Quotes
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
ALAN GREENSPAN -
I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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Gold still represents the ultimate form of payment in the world.
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They seem to sense… that gold and economic freedom are inseparable.
ALAN GREENSPAN -
I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
ALAN GREENSPAN -
The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
ALAN GREENSPAN -
An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
ALAN GREENSPAN -
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