The need for values is inbred. Their content is not.
ALAN GREENSPANIf you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
More Alan Greenspan Quotes
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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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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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
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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 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…
ALAN GREENSPAN -
Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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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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Indeed, better risk management may be the only truly necessary element of success in banking.
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Rules cannot take the place of character.
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They seem to sense… that gold and economic freedom are inseparable.
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The tub helps me relax, and it’s a great place to read.
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Senator, if I seem clear to you, you must have misunderstood me’.
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Derivatives have permitted the unbundling of financial risks.
ALAN GREENSPAN