The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
ALAN GREENSPANAmerican consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
More Alan Greenspan Quotes
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I’m a plain soap kind of guy.
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Productivity is notoriously difficult to predict.
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The Iraq War is largely about oil.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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Market financed withdrawals of home equity in recent years.
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Gold still represents the ultimate form of payment in the world.
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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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It signals problems with respect to currency markets. Central banks should pay attention to it.
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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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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I have long argued that paying down the national debt is beneficial for the economy.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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All taxes are a drag on economic growth. It’s only a question of degree.
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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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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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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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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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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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If you think you understand what I am saying you do not understand what I am saying.
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Then fear hits, and it comes down very sharply. When I started to look at that.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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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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The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the Second World War.
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