Greenspan, who knew so much more than most, knew far less than most supposed.
ALAN GREENSPANDeficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.
More Alan Greenspan Quotes
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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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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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Political decisions are never random and will always lose out to innovative alternatives.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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Anything that we can do to raise personal savings is very much in the interest of this country.
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There is no evidence that the business cycle has been repealed.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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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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Rules cannot take the place of character.
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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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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
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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.
ALAN GREENSPAN