If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
ALAN GREENSPANInstitutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
More Alan Greenspan Quotes
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
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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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The free lunch has still to be invented.
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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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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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History cannot be reduced to a set of statistics and probabilities.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
ALAN GREENSPAN