It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
ALAN GREENSPANI’m a better economist than I was a sax player.
More Alan Greenspan Quotes
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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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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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If we are dealing with psychology, then the thermometers one uses to measure it have an effect.
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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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If prices go down, we will have problems – problems in the sense of spillover to other areas.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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But rules cannot substitute for character.
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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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Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.
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I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.
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Regulation – which is based on force and fear – undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.
ALAN GREENSPAN






