The Iraq War is largely about oil.
ALAN GREENSPANThere are no easy choices. Easy choices are long gone.
More Alan Greenspan Quotes
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The probability of ten consecutive heads is 0.1 percent; thus, when you have millions of coin tossers, or investors, in the end there will be thousands of very successful practitioners of coin tossing, or stock picking.
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If I say something which you understand fully in this regard, I probably made a mistake.
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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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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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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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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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It 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.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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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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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
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And the percentage changes in wage rates would be the same for all job grades.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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Productivity is notoriously difficult to predict.
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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.
ALAN GREENSPAN