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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.

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Deal Effect Measure Psychology Thermometer Use

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
ALAN GREENSPAN

Deal Effect Measure Psychology Thermometer Use
Excessive optimism sows the seeds of its own reversal.
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Excessive Optimism Retrospect Something
Market financed withdrawals of home equity in recent years.
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Equity Financial Home Market Recent Withdrawl Year
We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
ALAN GREENSPAN

Asset Banker Bubble Central Collapse Concern Do Economy Financial Threaten
If I’ve made myself clear, I’ve misspoken.
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Clear Made Misspken Myself
I’m a better economist than I was a sax player.
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Better Economist Player
I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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Always Amaze Day Different Foreign Handle Next Policy Politics Subject Wife
[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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Deserve End Lose Neither Power Principle Republication Swap
Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPAN

Able Archive Been Clarity Emotively Future Pre Regulator Require
At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
ALAN GREENSPAN

Capital Composition Force Meshed Need Oversimplification Risk Skill Stock Work
Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
ALAN GREENSPAN

Competition Country Force Shied Shortage Skill
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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Consider Distribution Economy Future Likely Outcome Path Possible
What an ideology is is a conceptual framework with the way people deal with reality.
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Conceptual Del Framework Ideology People Reality
The free lunch has still to be invented.
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Free Invent Lunch Still
American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
ALAN GREENSPAN

Country Economy Function Harbor Violence World
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.
ALAN GREENSPAN

Country Crise Current End Financial Most Retrospect Since War Wrench
Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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Academic Government Jargon Mechanism More Nothing Scheme State Strip Support Welfare
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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Capacity Drive Enable Household Improvement Information Lead Out Practice Reach Technology Tender
There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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Confiscation Deficit Hidden Safe Scheme Spend Store Value Wealth
The number one problem in today’s generation and economy is the lack of financial literacy.
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Economy Financial Generation Lack Literacy Number Problem Today
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.
ALAN GREENSPAN

Currency Dollar Evidence Gold Look Premier Remember Still
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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Abandonment Banking Credit Gold Made Possible Standard Statics System Use Welfare
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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Clear Guess Out Particular Turn Warn You
I have long argued that paying down the national debt is beneficial for the economy.
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Beneficial Debt Down Economy Long National Pay
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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Caution During Especially Past Price Regard Rise Sharp Two Warranted Year
There are no easy choices. Easy choices are long gone.
ALAN GREENSPAN

Choice Easy Gone Long No
Greenspan, who knew so much more than most, knew far less than most supposed.
ALAN GREENSPAN

Far Greenspan Knew Less More Most Suppose

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