Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
ALAN GREENSPANAny onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
More Alan Greenspan Quotes
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The guiding purpose of the government regulator is to prevent rather than to create something.
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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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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
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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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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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If I’ve made myself clear, I’ve misspoken.
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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
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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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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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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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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.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
ALAN GREENSPAN