I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
ALAN GREENSPANExcessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
More Alan Greenspan Quotes
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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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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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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I’m a plain soap kind of guy.
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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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Market financed withdrawals of home equity in recent years.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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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.
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If I’ve made myself clear, I’ve misspoken.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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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.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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I’m a better economist than I was a sax player.
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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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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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Whatever you tax you get less of.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
ALAN GREENSPAN