I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
ALAN GREENSPANThe problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
More Alan Greenspan Quotes
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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I’m a plain soap kind of guy.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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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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The number one problem in today’s generation and economy is the lack of financial literacy.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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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.
ALAN GREENSPAN