Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
ALAN GREENSPANUnfortunately, Senator, nobody knows where the next innovative idea is coming from.
More Alan Greenspan Quotes
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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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There are no easy choices. Easy choices are long gone.
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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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If I say something which you understand fully in this regard, I probably made a mistake.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
ALAN GREENSPAN