Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
ALAN GREENSPANThere is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
More Alan Greenspan Quotes
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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I’m a plain soap kind of guy.
ALAN GREENSPAN -
The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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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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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
ALAN GREENSPAN -
Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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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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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
ALAN GREENSPAN -
The tub helps me relax, and it’s a great place to read.
ALAN GREENSPAN -
Anything that we can do to raise personal savings is very much in the interest of this country.
ALAN GREENSPAN