Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
ALAN GREENSPANAnd whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
More Alan Greenspan Quotes
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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If we are to remain preeminent in transforming knowledge into economic value, America’s system of higher education must remain the world’s leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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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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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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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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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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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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How do we know when irrational exuberance has unduly escalated asset values?
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I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.
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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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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 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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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
ALAN GREENSPAN