Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
ALAN GREENSPANAmateurs want to be right. Professionals want to make money.
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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I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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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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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets.
ALAN GREENSPAN -
Amateurs want to be right. Professionals want to make money.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
ALAN GREENSPAN -
I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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Although the outlook is clouded by a number of uncertainties, the central tendencies of the projections .. imply continued good economic performance in the United States.
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I’m a plain soap kind of guy.
ALAN GREENSPAN -
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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Without calling the overall national issue a bubble, it’s pretty clear that it’s an unsustainable underlying pattern.
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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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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.
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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
ALAN GREENSPAN