If you think you understand what I am saying you do not understand what I am saying.
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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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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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
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Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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Derivatives have permitted the unbundling of financial risks.
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By far the most significant event in finance during the past decade has been the extraordinary development and expansion of financial derivatives.
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If you get beyond the political rhetoric [and assembled a group to solve Social Security] it would take them 15 minutes. It would take them 15 minutes only because 10 minutes was used for pleasantries.
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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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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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The tub helps me relax, and it’s a great place to read.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives.
ALAN GREENSPAN