Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
ALAN GREENSPANIt has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
More Alan Greenspan Quotes
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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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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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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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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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There is no evidence that the business cycle has been repealed.
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And the percentage changes in wage rates would be the same for all job grades.
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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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It signals problems with respect to currency markets. Central banks should pay attention to it.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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Productivity is notoriously difficult to predict.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
ALAN GREENSPAN