If prices go down, we will have problems – problems in the sense of spillover to other areas.
ALAN GREENSPANI have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
More Alan Greenspan Quotes
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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There are no easy choices. Easy choices are long gone.
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It’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
ALAN GREENSPAN -
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.
ALAN GREENSPAN -
I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
ALAN GREENSPAN -
Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
ALAN GREENSPAN -
It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
ALAN GREENSPAN -
Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
ALAN GREENSPAN -
The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
ALAN GREENSPAN -
People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
ALAN GREENSPAN