Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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 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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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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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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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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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
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There are no easy choices. Easy choices are long gone.
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Senator, if I seem clear to you, you must have misunderstood me’.
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There is no evidence that the business cycle has been repealed.
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It is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
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Significantly opening up immigration to skilled workers solves two problems.
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I have long argued that paying down the national debt is beneficial for the economy.
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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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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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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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Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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Productivity is notoriously difficult to predict.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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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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I’m a plain soap kind of guy.
ALAN GREENSPAN