We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
ALAN GREENSPANThere is no evidence that the business cycle has been repealed.
More Alan Greenspan Quotes
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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The need for values is inbred. Their content is not.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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Productivity is notoriously difficult to predict.
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The tub helps me relax, and it’s a great place to read.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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The Iraq War is largely about oil.
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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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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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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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Rules cannot take the place of character.
ALAN GREENSPAN