The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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 gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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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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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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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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How do we know when irrational exuberance has unduly escalated asset values?
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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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.
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Market financed withdrawals of home equity in recent years.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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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.
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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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The tub helps me relax, and it’s a great place to read.
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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.
ALAN GREENSPAN