Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
ALAN GREENSPANThe number of mistakes I have made are just awesome. There is no number large enough to account for that.
More Alan Greenspan Quotes
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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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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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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Significantly opening up immigration to skilled workers solves two problems.
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These days, even out of office, I still read economic reports.
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Productivity is notoriously difficult to predict.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
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How do we know when irrational exuberance has unduly escalated asset values?
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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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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Gold still represents the ultimate form of payment in the world.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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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’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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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?
ALAN GREENSPAN