I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
ALAN GREENSPANThe need for values is inbred. Their content is not.
More Alan Greenspan Quotes
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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The Iraq War is largely about oil.
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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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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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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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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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What an ideology is is a conceptual framework with the way people deal with reality.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
ALAN GREENSPAN