There are no easy choices. Easy choices are long gone.
ALAN GREENSPANThe true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
More Alan Greenspan Quotes
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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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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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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You can’t have the capitalist system if an increasing number of people think it is unjust.
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And the percentage changes in wage rates would be the same for all job grades.
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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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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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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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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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The process of innovation is, of course, never ending.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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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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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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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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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.
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Market financed withdrawals of home equity in recent years.
ALAN GREENSPAN