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There is no evidence that the business cycle has been repealed.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

I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
ALAN GREENSPAN

All Always Argue Benefited Country Draw Fact Immensely Over People World
…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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Colleagues Critical Depend Marlet System Trust World
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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Appear Corner Cut Deny Manipulate Material Succeeded
How do we know when irrational exuberance has unduly escalated asset values?
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Escalate Exuberance Irrational Unduly Value
I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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Amateur Average Band Big Fade Fairy Good Musician Professional
As long as we issue fiat currency, I see no alternative to a legal tender law.
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Alternative Currency Issue Law Legal Long Tender
There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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Confiscation Deficit Hidden Safe Scheme Spend Store Value Wealth
I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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Absolute Believe Fact Figure Moral Otherwise Proposition
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
Then fear hits, and it comes down very sharply. When I started to look at that.
ALAN GREENSPAN

Come Down Fear Hit Look Sharply Start That
Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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Dominant Euphoria Fear Force Many Multiply Size
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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Characteristics Corruption Embezzlement Everywhere Exist Regrettably
History demonstrates that participants in financial markets are susceptible to waves of optimism.
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Demonstrate Excessive Financial History Optimism Particular Wave
You can’t have the capitalist system if an increasing number of people think it is unjust.
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Capitalist Increase Number People System Unjust
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
I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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Always Amaze Day Different Foreign Handle Next Policy Politics Subject Wife

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