Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
ALAN GREENSPANRegulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
More Alan Greenspan Quotes
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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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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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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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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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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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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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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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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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If I’ve made myself clear, I’ve misspoken.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
ALAN GREENSPAN






