I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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No one has ever eliminated any of that stuff.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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The need for values is inbred. Their content is not.
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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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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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I’m a plain soap kind of guy.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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But rules cannot substitute for character.
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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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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
ALAN GREENSPAN