Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
ALAN GREENSPANDeficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
More Alan Greenspan Quotes
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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All taxes are a drag on economic growth. It’s only a question of degree.
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If you think you understand what I am saying you do not understand what I am saying.
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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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.
ALAN GREENSPAN