There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
ALAN GREENSPANIf we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
More Alan Greenspan Quotes
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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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No one has ever eliminated any of that stuff.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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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.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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Whatever you tax you get less of.
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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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If I say something which you understand fully in this regard, I probably made a mistake.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Credit-default swaps, I think, have serious problems associated with them.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
ALAN GREENSPAN