Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
ALAN GREENSPANClearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
More Alan Greenspan Quotes
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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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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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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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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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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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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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.
ALAN GREENSPAN