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There is no evidence that the business cycle has been repealed.

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Business Cycle Evidence Repeat

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
ALAN GREENSPAN

Anyone Barred Country President Will Required
Even 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.
ALAN GREENSPAN

Borrow Down Equity Historical Payment Significant Some Unusual Wipe
As long as we issue fiat currency, I see no alternative to a legal tender law.
ALAN GREENSPAN

Alternative Currency Issue Law Legal Long Tender
They seem to sense… that gold and economic freedom are inseparable.
ALAN GREENSPAN

Economic Freedom Gold Inseparable See Sense
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.
ALAN GREENSPAN

Continue Go Higher Market More Stock
Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
ALAN GREENSPAN

Base Business Deal Fear Force Regulation Undermine
We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
ALAN GREENSPAN

Necessary Out Policy Preëmptive Rule Situation Tight
Derivatives have permitted the unbundling of financial risks.
ALAN GREENSPAN

Derivative Financial Permit Risk Unbound
Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
ALAN GREENSPAN

Apart Contagion Critical Fall Intellectual Phenomenon Shock Sort
It signals problems with respect to currency markets. Central banks should pay attention to it.
ALAN GREENSPAN

Attention Bank Central Currency Market Problem Respect Signal
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.
ALAN GREENSPAN

Boost Finance Free Income Increase Interest Keep Lower Productive Rate Real Saving
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

Always Debt Default Money Print Probability States United
The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
ALAN GREENSPAN

Coin Consecutive Head Investor Million Percent Pick Probably Stock Ten Tosser
History cannot be reduced to a set of statistics and probabilities.
ALAN GREENSPAN

History Probability Reduce Set Statics
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.
ALAN GREENSPAN

Basic Communication Education Foundation Importance Learn Solid Soon Succeed
American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
ALAN GREENSPAN

Alternative Belief Consumer Country Great Lender might Mortgage Product Provide Traditional

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