I have long argued that paying down the national debt is beneficial for the economy.
ALAN GREENSPANEven though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
More Alan Greenspan Quotes
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
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If I say something which you understand fully in this regard, I probably made a mistake.
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Significantly opening up immigration to skilled workers solves two problems.
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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.
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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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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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Market financed withdrawals of home equity in recent years.
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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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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
ALAN GREENSPAN