We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
ALAN GREENSPANNow, I only play very occasionally, and in fact, more piano than clarinet or sax.
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.
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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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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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History cannot be reduced to a set of statistics and probabilities.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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Political decisions are never random and will always lose out to innovative alternatives.
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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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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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Whatever you tax you get less of.
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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.
ALAN GREENSPAN






