Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
ALAN GREENSPANGreenspan, who knew so much more than most, knew far less than most supposed.
More Alan Greenspan Quotes
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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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I have long argued that paying down the national debt is beneficial for the economy.
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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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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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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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But rules cannot substitute for character.
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Rules cannot take the place of character.
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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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Any informed borrower is simply less vulnerable to fraud and abuse.
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If I’ve made myself clear, I’ve misspoken.
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If I seem unduly clear to you, you must have misunderstood what I said.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
ALAN GREENSPAN