Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
ALAN GREENSPANThe 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.
More Alan Greenspan Quotes
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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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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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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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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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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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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.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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Amateurs want to be right. Professionals want to make money.
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The process of innovation is, of course, never ending.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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Productivity is notoriously difficult to predict.
ALAN GREENSPAN