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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.

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Ability Correct Economy Flexible Greater Inevitable More Response Self Unanticipated

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
ALAN GREENSPAN

Detective Economy Fact Follow Love Piece Story Together
We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
ALAN GREENSPAN

Anything Common Crise Human Like Look Nature
This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPAN

Aftermath History Period Premium Protract Reason Risk
Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
ALAN GREENSPAN

Anyone Barred Country President Will Required
Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
ALAN GREENSPAN

Develop Fiscal Path Place Policy Protection Regard Reluctance Sustainable Trade
We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
ALAN GREENSPAN

Bell Call Economy Evolve Financial International Rapid System Whistle
If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
ALAN GREENSPAN

Cold Currency Down Gold Mine Move Question Relative Together
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.
ALAN GREENSPAN

Deny Monoply Nature Need Readily Resolve Terrible Thing
There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
ALAN GREENSPAN

Confiscation Deficit Hidden Safe Scheme Spend Store Value Wealth
I have long argued that paying down the national debt is beneficial for the economy.
ALAN GREENSPAN

Beneficial Debt Down Economy Long National Pay
History cannot be reduced to a set of statistics and probabilities.
ALAN GREENSPAN

History Probability Reduce Set Statics
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.
ALAN GREENSPAN

Appear Corner Cut Deny Manipulate Material Succeeded
This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
ALAN GREENSPAN

Better Built Decade Example Financial Market Mousetrap People
The number one problem in today’s generation and economy is the lack of financial literacy.
ALAN GREENSPAN

Economy Financial Generation Lack Literacy Number Problem Today
Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
ALAN GREENSPAN

Consensus Cut Fiscal Irresponsible Policy Tax Trigger View
The free lunch has still to be invented.
ALAN GREENSPAN

Free Invent Lunch Still

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