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.
ALAN GREENSPANI’m a plain soap kind of guy.
More Alan Greenspan Quotes
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It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.
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I don’t know where the stock market is going, but I will say this, that if it continues higher, this will do more to stimulate the economy than anything we’ve been talking about today or anything anybody else was talking about.
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No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.
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Regulators have not been able to achieve the level of future clarity required to act pre-emptively.
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It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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Unfortunately, Senator, nobody knows where the next innovative idea is coming from.
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The Iraq War is largely about oil.
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Indeed, better risk management may be the only truly necessary element of success in banking.
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We can guarantee cash benefits as far out and at whatever size you like, but we cannot guarantee their purchasing power.
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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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Greenspan, who knew so much more than most, knew far less than most supposed.
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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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Market financed withdrawals of home equity in recent years.
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Fiat money in extremis is accepted by nobody. Gold is always accepted.
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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.
ALAN GREENSPAN