I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
ALAN GREENSPANIf prices go down, we will have problems – problems in the sense of spillover to other areas.
More Alan Greenspan Quotes
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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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Any informed borrower is simply less vulnerable to fraud and abuse.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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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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Rules cannot take the place of character.
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Excessive optimism sows the seeds of its own reversal.
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While 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.
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The free lunch has still to be invented.
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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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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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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Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity.
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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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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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History cannot be reduced to a set of statistics and probabilities.
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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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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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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