The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
ALAN GREENSPANProductivity is notoriously difficult to predict.
More Alan Greenspan Quotes
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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The tub helps me relax, and it’s a great place to read.
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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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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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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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What an ideology is is a conceptual framework with the way people deal with reality.
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
ALAN GREENSPAN