I’m a better economist than I was a sax player.
ALAN GREENSPANI love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
More Alan Greenspan Quotes
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Derivatives have permitted the unbundling of financial risks.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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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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If you think you understand what I am saying you do not understand what I am saying.
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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No one has ever eliminated any of that stuff.
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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Market financed withdrawals of home equity in recent years.
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The Iraq War is largely about oil.
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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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.
ALAN GREENSPAN