I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
ALAN GREENSPANIn an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
More Alan Greenspan Quotes
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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No one has ever eliminated any of that stuff.
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And she always has so much fun doing it. We make a good team.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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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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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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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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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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How do we know when irrational exuberance has unduly escalated asset values?
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They seem to sense… that gold and economic freedom are inseparable.
ALAN GREENSPAN






