The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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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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I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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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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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
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Gold still represents the ultimate form of payment in the world.
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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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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History cannot be reduced to a set of statistics and probabilities.
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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.
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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.
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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.
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Revolutions are something you see only in retrospect.
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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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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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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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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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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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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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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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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
ALAN GREENSPAN