Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPANProductivity is notoriously difficult to predict.
More Alan Greenspan Quotes
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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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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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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These days, even out of office, I still read economic reports.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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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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When trust is lost, a nation’s ability to transact business is palpably undermined.
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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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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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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
ALAN GREENSPAN