If I say something which you understand fully in this regard, I probably made a mistake.
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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Market financed withdrawals of home equity in recent years.
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Revolutions are something you see only in retrospect.
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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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Gold still represents the ultimate form of payment in the world.
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There is no evidence that the business cycle has been repealed.
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In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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Excessive optimism sows the seeds of its own reversal.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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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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The number one problem in today’s generation and economy is the lack of financial literacy.
ALAN GREENSPAN