There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
ALAN GREENSPANHow do we know when irrational exuberance has unduly escalated asset values?
More Alan Greenspan Quotes
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If I say something which you understand fully in this regard, I probably made a mistake.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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How do we know when irrational exuberance has unduly escalated asset values?
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And the percentage changes in wage rates would be the same for all job grades.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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Amateurs want to be right. Professionals want to make money.
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The need for values is inbred. Their content is not.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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If I’ve made myself clear, I’ve misspoken.
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If we were to do that we would increase the supply of skilled workers that our schools have been unable to create and as a consequence of that we would lower the average wage of skills and reduce the degree of income inequality in this country.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
ALAN GREENSPAN