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.
ALAN GREENSPANIt is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
More Alan Greenspan Quotes
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The free lunch has still to be invented.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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Gold still represents the ultimate form of payment in the world.
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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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You can’t have the capitalist system if an increasing number of people think it is unjust.
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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I’m a better economist than I was a sax player.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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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.
ALAN GREENSPAN