I was a good amateur but only an average professional. I soon realized that there was a limit to how far I could rise in the music business, so I left the band and enrolled at New York University.
ALAN GREENSPANNow, I only play very occasionally, and in fact, more piano than clarinet or sax.
More Alan Greenspan Quotes
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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Excessive optimism sows the seeds of its own reversal.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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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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It signals problems with respect to currency markets. Central banks should pay attention to it.
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There are no easy choices. Easy choices are long gone.
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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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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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Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.
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And the percentage changes in wage rates would be the same for all job grades.
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Anyone willing to do what is required to become president of the United States is thereby barred from taking that office. I’m only half joking
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Significantly opening up immigration to skilled workers solves two problems.
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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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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
ALAN GREENSPAN