History cannot be reduced to a set of statistics and probabilities.
ALAN GREENSPANExcessive optimism sows the seeds of its own reversal.
More Alan Greenspan Quotes
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The guiding purpose of the government regulator is to prevent rather than to create something.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
ALAN GREENSPAN