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.
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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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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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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Then fear hits, and it comes down very sharply. When I started to look at that.
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Gold still represents the ultimate form of payment in the world.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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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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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
ALAN GREENSPAN