But rules cannot substitute for character.
ALAN GREENSPANWe can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
More Alan Greenspan Quotes
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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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 companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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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 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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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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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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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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If I’ve made myself clear, I’ve misspoken.
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Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
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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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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.
ALAN GREENSPAN