While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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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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Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets.
ALAN GREENSPAN -
If I’ve made myself clear, I’ve misspoken.
ALAN GREENSPAN -
The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
ALAN GREENSPAN -
Political decisions are never random and will always lose out to innovative alternatives.
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And she always has so much fun doing it. We make a good team.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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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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Excessive optimism sows the seeds of its own reversal.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
ALAN GREENSPAN -
If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
ALAN GREENSPAN