I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
ALAN GREENSPANRemember 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.
More Alan Greenspan Quotes
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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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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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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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 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 gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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Market financed withdrawals of home equity in recent years.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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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.
ALAN GREENSPAN -
The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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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.
ALAN GREENSPAN