History cannot be reduced to a set of statistics and probabilities.
ALAN GREENSPANThese days, even out of office, I still read economic reports.
More Alan Greenspan Quotes
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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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Derivatives have permitted the unbundling of financial risks.
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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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Whatever you tax you get less of.
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Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine.
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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 don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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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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Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
ALAN GREENSPAN