I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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Excessive optimism sows the seeds of its own reversal.
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These days, even out of office, I still read economic reports.
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The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions…
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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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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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All taxes are a drag on economic growth. It’s only a question of degree.
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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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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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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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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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPAN