Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
ALAN GREENSPANEnhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
More Alan Greenspan Quotes
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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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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Gold still represents the ultimate form of payment in the world.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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What an ideology is is a conceptual framework with the way people deal with reality.
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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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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 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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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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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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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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Whatever you tax you get less of.
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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Market financed withdrawals of home equity in recent years.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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It is decidedly not true that “nice guys finish last,” as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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No one has ever eliminated any of that stuff.
ALAN GREENSPAN