Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPANMarket financed withdrawals of home equity in recent years.
More Alan Greenspan Quotes
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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.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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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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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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Whatever you tax you get less of.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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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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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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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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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
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Gold still represents the ultimate form of payment in the world.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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All taxes are a drag on economic growth. It’s only a question of degree.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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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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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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No one has ever eliminated any of that stuff.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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If I seem unduly clear to you, you must have misunderstood what I said.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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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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Credit-default swaps, I think, have serious problems associated with them.
ALAN GREENSPAN