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 GREENSPANWithout the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
More Alan Greenspan Quotes
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Market financed withdrawals of home equity in recent years.
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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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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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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.
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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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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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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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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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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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Anything that we can do to raise personal savings is very much in the interest of this country.
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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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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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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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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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Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPAN