Greenspan, who knew so much more than most, knew far less than most supposed.
ALAN GREENSPANMany of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
More Alan Greenspan Quotes
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I’m a better economist than I was a sax player.
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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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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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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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Whatever you tax you get less of.
ALAN GREENSPAN -
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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Political decisions are never random and will always lose out to innovative alternatives.
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No one has ever eliminated any of that stuff.
ALAN GREENSPAN -
Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
ALAN GREENSPAN -
Productivity is notoriously difficult to predict.
ALAN GREENSPAN