Market financed withdrawals of home equity in recent years.
ALAN GREENSPANWas sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
More Alan Greenspan Quotes
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History cannot be reduced to a set of statistics and probabilities.
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Excessive optimism sows the seeds of its own reversal.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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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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The tub helps me relax, and it’s a great place to read.
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The worst have failed; investors no longer fund them and are not likely to in the future.
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I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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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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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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I’ve always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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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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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
ALAN GREENSPAN