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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
ALAN GREENSPAN

Asset Banker Bubble Central Collapse Concern Do Economy Financial Threaten
Market financed withdrawals of home equity in recent years.
ALAN GREENSPAN

Equity Financial Home Market Recent Withdrawl Year
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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All Always Argue Benefited Country Draw Fact Immensely Over People World
Fiat money in extremis is accepted by nobody. Gold is always accepted.
ALAN GREENSPAN

Accept Extremis Fiat God Money Nobody
Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
ALAN GREENSPAN

Academic Government Jargon Mechanism More Nothing Scheme State Strip Support Welfare
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.
ALAN GREENSPAN

Already Asset Business Caution Economy Great Lost Momentum Must Possibly Predictable Remain Spend Weakness
Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
ALAN GREENSPAN

Commodity Currency Demand God Gold Jewelry Thrust Unlike
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.
ALAN GREENSPAN

Abandonment Banking Credit Gold Made Possible Standard Statics System Use Welfare
It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
ALAN GREENSPAN

Constrain Contract Derivate Financial Innovative Newer Seem Some Superfluous Trade
We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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Border Labour Open Ought Part Skill State Word World
Anything that we can do to raise personal savings is very much in the interest of this country.
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Anything Country Interest Much Personal Raise Say
It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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Boost Finance Free Income Increase Interest Keep Lower Productive Rate Real Saving
There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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Confiscation Deficit Hidden Safe Scheme Spend Store Value Wealth
Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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Borrow Down Equity Historical Payment Significant Some Unusual Wipe
The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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Business Competitive Economy Force Mark More Period Productive Recent Technology Transformation
Gold stands in the way of this insidious process. It stands as a protector of property rights.
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Gold Insidious Process Properly Right Stand

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