Political decisions are never random and will always lose out to innovative alternatives.
ALAN GREENSPANThe only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
More Alan Greenspan Quotes
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I have one other issue I’d like to throw on the table. I hesitate to do it, but let me tell you some of the issues that are involved here.
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The guiding purpose of the government regulator is to prevent rather than to create something.
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We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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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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If I say something which you understand fully in this regard, I probably made a mistake.
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Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.
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But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
ALAN GREENSPAN