I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
ALAN GREENSPANI’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
More Alan Greenspan Quotes
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And she always has so much fun doing it. We make a good team.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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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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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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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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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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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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Excessive optimism sows the seeds of its own reversal.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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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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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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If I seem unduly clear to you, you must have misunderstood what I said.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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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.
ALAN GREENSPAN