Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets.
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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And she always has so much fun doing it. We make a good team.
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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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Amateurs want to be right. Professionals want to make money.
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At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable.
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
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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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Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices.
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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.
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It signals problems with respect to currency markets. Central banks should pay attention to it.
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Market financed withdrawals of home equity in recent years.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.
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We need, in effect, to make the phantom ‘lock-boxes’ around the trust fund real.
ALAN GREENSPAN