Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
ALAN GREENSPANI am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
More Alan Greenspan Quotes
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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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How do we know when irrational exuberance has unduly escalated asset values?
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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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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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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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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Anything that we can do to raise personal savings is very much in the interest of this country.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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The increased flexibility of our economy, which has fostered our extraordinary resilience to shocks.
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I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
ALAN GREENSPAN