It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations.
ALAN GREENSPANThere’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.
More Alan Greenspan Quotes
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But rules cannot substitute for character.
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I’m a better economist than I was a sax player.
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The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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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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Any informed borrower is simply less vulnerable to fraud and abuse.
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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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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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Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.
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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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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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They then need to reach a judgment about the probabilities, costs, and benefits of the various possible outcomes under alternative choices for policy.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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The companies could hire the educated workers they need. And those workers would compete with high-income people, driving more income equality.
ALAN GREENSPAN