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.
ALAN GREENSPANI’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.
More Alan Greenspan Quotes
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
ALAN GREENSPAN -
The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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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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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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The tub helps me relax, and it’s a great place to read.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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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.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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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.
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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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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
ALAN GREENSPAN -
Derivatives have permitted the unbundling of financial risks.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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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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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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The process of innovation is, of course, never ending.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
ALAN GREENSPAN -
I’m a better economist than I was a sax player.
ALAN GREENSPAN -
Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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But rules cannot substitute for character.
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Productivity is notoriously difficult to predict.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPAN -
It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
ALAN GREENSPAN