Then fear hits, and it comes down very sharply. When I started to look at that.
ALAN GREENSPANWe ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
More Alan Greenspan Quotes
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And she always has so much fun doing it. We make a good team.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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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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How do we know when irrational exuberance has unduly escalated asset values?
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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The need for values is inbred. Their content is not.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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All taxes are a drag on economic growth. It’s only a question of degree.
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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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If I say something which you understand fully in this regard, I probably made a mistake.
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And the percentage changes in wage rates would be the same for all job grades.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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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’m a better economist than I was a sax player.
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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.
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There are no easy choices. Easy choices are long gone.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
ALAN GREENSPAN