When trust is lost, a nation’s ability to transact business is palpably undermined.
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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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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What an ideology is is a conceptual framework with the way people deal with reality.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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And the percentage changes in wage rates would be the same for all job grades.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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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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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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Given our inevitably incomplete knowledge about key structural aspects of our ever-changing economy and the sometimes asymmetric costs or benefits of particular outcomes, a central bank.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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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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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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If I seem unduly clear to you, you must have misunderstood what I said.
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
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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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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
ALAN GREENSPAN