History cannot be reduced to a set of statistics and probabilities.
ALAN GREENSPANProductivity is notoriously difficult to predict.
More Alan Greenspan Quotes
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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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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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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How do we know when irrational exuberance has unduly escalated asset values?
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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 free lunch has still to be invented.
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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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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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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.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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The number one problem in today’s generation and economy is the lack of financial literacy.
ALAN GREENSPAN