Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPANThe gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
More Alan Greenspan Quotes
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Gold still represents the ultimate form of payment in the world.
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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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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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Anything that we can do to raise personal savings is very much in the interest of this country.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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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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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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The need for values is inbred. Their content is not.
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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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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
ALAN GREENSPAN