Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
ALAN GREENSPANRegulators have not been able to achieve the level of future clarity required to act pre-emptively.
More Alan Greenspan Quotes
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They seem to sense… that gold and economic freedom are inseparable.
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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 don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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No one has ever eliminated any of that stuff.
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Senator, if I seem clear to you, you must have misunderstood me’.
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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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The guiding purpose of the government regulator is to prevent rather than to create something.
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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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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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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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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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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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Market financed withdrawals of home equity in recent years.
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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.
ALAN GREENSPAN