The number one problem in today’s generation and economy is the lack of financial literacy.
ALAN GREENSPANGold stands in the way of this insidious process. It stands as a protector of property rights.
More Alan Greenspan Quotes
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There is no evidence that the business cycle has been repealed.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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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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I’m a plain soap kind of guy.
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All taxes are a drag on economic growth. It’s only a question of degree.
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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’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’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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No one has ever eliminated any of that stuff.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
ALAN GREENSPAN