Productivity is notoriously difficult to predict.
ALAN GREENSPANI’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
More Alan Greenspan Quotes
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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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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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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History cannot be reduced to a set of statistics and probabilities.
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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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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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The Iraq War is largely about oil.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
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Whatever you tax you get less of.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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I’m a better economist than I was a sax player.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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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.
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If I’ve made myself clear, I’ve misspoken.
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
ALAN GREENSPAN