These days, even out of office, I still read economic reports.
ALAN GREENSPANRegulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
More Alan Greenspan Quotes
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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Market financed withdrawals of home equity in recent years.
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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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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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They seem to sense… that gold and economic freedom are inseparable.
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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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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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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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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPAN






