Everyone has one. You have to, to exist you need an ideology. The question is whether it is accurate or not.
ALAN GREENSPANThe 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…
More Alan Greenspan Quotes
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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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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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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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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History cannot be reduced to a set of statistics and probabilities.
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I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
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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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I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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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.
ALAN GREENSPAN