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 GREENSPANIt’s hard to overemphasize how important Ford’s deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first.
More Alan Greenspan Quotes
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The Iraq War is largely about oil.
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There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions.
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Greenspan, who knew so much more than most, knew far less than most supposed.
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All taxes are a drag on economic growth. It’s only a question of degree.
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The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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If I say something which you understand fully in this regard, I probably made a mistake.
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The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius.
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To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education – literacy, both verbal and numerical, and communication skills.
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I’ve been in and out of Wall Street since 1949, and I’ve never seen the type of animosity between government and Wall Street. And I’m not sure where it comes from, but I suspect it’s got to do with a general schism in this society which is really becoming ever more destructive.
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I’m a better economist than I was a sax player.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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It keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.
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Enhances a person’s ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.
ALAN GREENSPAN






