We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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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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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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Amateurs want to be right. Professionals want to make money.
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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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Improvements in lending practices driven by information technology have enabled lenders to reach out to households with previously unrecognized borrowing capacities.
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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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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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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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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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These days, even out of office, I still read economic reports.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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All taxes are a drag on economic growth. It’s only a question of degree.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
ALAN GREENSPAN