I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
ALAN GREENSPANWhile these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
More Alan Greenspan Quotes
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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And she always has so much fun doing it. We make a good team.
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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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.
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If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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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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I’m a plain soap kind of guy.
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These days, even out of office, I still read economic reports.
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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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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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Amateurs want to be right. Professionals want to make money.
ALAN GREENSPAN