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.
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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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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I’m a better economist than I was a sax player.
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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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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The number one problem in today’s generation and economy is the lack of financial literacy.
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All taxes are a drag on economic growth. It’s only a question of degree.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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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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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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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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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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Excessive optimism sows the seeds of its own reversal.
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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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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
ALAN GREENSPAN