It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
ALAN GREENSPANIt keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
More Alan Greenspan Quotes
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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Political decisions are never random and will always lose out to innovative alternatives.
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
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Derivatives have permitted the unbundling of financial risks.
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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.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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Market financed withdrawals of home equity in recent years.
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The number one problem in today’s generation and economy is the lack of financial literacy.
ALAN GREENSPAN