Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
ALAN GREENSPANI don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
More Alan Greenspan Quotes
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What an ideology is is a conceptual framework with the way people deal with reality.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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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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These days, even out of office, I still read economic reports.
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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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All taxes are a drag on economic growth. It’s only a question of degree.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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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.
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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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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So there is no reason to suspect that the actual process of boosting rates would be any different.
ALAN GREENSPAN