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 GREENSPANWe cannot rule out a situation in which a preemptive policy tightening becomes necessary.
More Alan Greenspan Quotes
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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What an ideology is is a conceptual framework with the way people deal with reality.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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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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Market financed withdrawals of home equity in recent years.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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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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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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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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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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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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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
ALAN GREENSPAN