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.
ALAN GREENSPANDeveloping protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
More Alan Greenspan Quotes
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The tub helps me relax, and it’s a great place to read.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
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Amateurs want to be right. Professionals want to make money.
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We cannot rule out a situation in which a preemptive policy tightening becomes necessary.
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Significantly opening up immigration to skilled workers solves two problems.
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If I’ve made myself clear, I’ve misspoken.
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I’m a better economist than I was a sax player.
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American and British authorities were also concerned about violence in an area that harbors a resource indispensable for the functioning of the word economy.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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Gold still represents the ultimate form of payment in the world.
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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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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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Gold stands in the way of this insidious process. It stands as a protector of property rights.
ALAN GREENSPAN