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
ALAN GREENSPANThe United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
More Alan Greenspan Quotes
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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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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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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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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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The free lunch has still to be invented.
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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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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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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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Amateurs want to be right. Professionals want to make money.
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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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I’m a plain soap kind of guy.
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If I seem unduly clear to you, you must have misunderstood what I said.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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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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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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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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Credit-default swaps, I think, have serious problems associated with them.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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They seem to sense… that gold and economic freedom are inseparable.
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I have long argued that paying down the national debt is beneficial for the economy.
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Whatever you tax you get less of.
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
ALAN GREENSPAN