I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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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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.
ALAN GREENSPAN -
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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Any informed borrower is simply less vulnerable to fraud and abuse.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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The free lunch has still to be invented.
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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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I’m a better economist than I was a sax player.
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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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Then fear hits, and it comes down very sharply. When I started to look at that.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
ALAN GREENSPAN -
It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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And she always has so much fun doing it. We make a good team.
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The number one problem in today’s generation and economy is the lack of financial literacy.
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But rules cannot substitute for character.
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I have long argued that paying down the national debt is beneficial for the economy.
ALAN GREENSPAN -
Political decisions are never random and will always lose out to innovative alternatives.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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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.
ALAN GREENSPAN -
Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
ALAN GREENSPAN -
The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
ALAN GREENSPAN -
[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
ALAN GREENSPAN -
Revolutions are something you see only in retrospect.
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If I seem unduly clear to you, you must have misunderstood what I said.
ALAN GREENSPAN -
Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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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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The Iraq War is largely about oil.
ALAN GREENSPAN