Any informed borrower is simply less vulnerable to fraud and abuse.
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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Market financed withdrawals of home equity in recent years.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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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.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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The Iraq War is largely about oil.
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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.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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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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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
ALAN GREENSPAN






