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Greenspan, who knew so much more than most, knew far less than most supposed.

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Far Greenspan Knew Less More Most Suppose

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

But material success is possible in this world and far more satisfying when it comes without exploiting others.
ALAN GREENSPAN

Come Exploit Material Other Possible Satisfy Success
How do we know when irrational exuberance has unduly escalated asset values?
ALAN GREENSPAN

Escalate Exuberance Irrational Unduly Value
No one has ever eliminated any of that stuff.
ALAN GREENSPAN

Eliminate No One Stuff
If I’ve made myself clear, I’ve misspoken.
ALAN GREENSPAN

Clear Made Misspken Myself
We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
ALAN GREENSPAN

Being Central Century Government Midst Once REquired Tsunami
I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
ALAN GREENSPAN

Bank Equity Especially Interest Mistake Organisation Presume Self Share
Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
ALAN GREENSPAN

Capitalism Condition Crony Essentially Favour Private Public
I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
ALAN GREENSPAN

End Free Manner Money Policy Possible Think
I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
ALAN GREENSPAN

Detective Economy Fact Follow Love Piece Story Together
Whatever you tax you get less of.
ALAN GREENSPAN

Economy Less Tax
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.
ALAN GREENSPAN

Bitcoin Blue Bubble Imagination Intrinsic Really Stretch
This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
ALAN GREENSPAN

Aftermath History Period Premium Protract Reason Risk
Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
ALAN GREENSPAN

Derivate Negotiate Privately Profession Regulation Transaction
Senator, if I seem clear to you, you must have misunderstood me’.
ALAN GREENSPAN

Clear Misunderstood Seem Senator
It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
ALAN GREENSPAN

Goad Growth Improve Mean Preventative Snoop Statics System
But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
ALAN GREENSPAN

Asset Escalate Exuberance Irrational Unduly Value

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