Developing protectionism regarding trade and our reluctance to place fiscal policy on a more sustainable path are threatening what may well be our most valued policy asset.
ALAN GREENSPANThen fear hits, and it comes down very sharply. When I started to look at that.
More Alan Greenspan Quotes
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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.
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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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In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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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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I have long argued that paying down the national debt is beneficial for the economy.
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American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.
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Stripped of its academic jargon, the welfare state is nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society to support a wide variety of welfare schemes.
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I didn’t believe in absolutes, moral or otherwise. If I couldn’t prove a proposition with facts and figures, it was without merit.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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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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I believe that the general growth in large [financial] institutions have occurred in the context of an underlying structure of markets in which many of the larger risks are dramatically — I should say, fully — hedged.
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These days, even out of office, I still read economic reports.
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I’m a plain soap kind of guy.
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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so…
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We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures.
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…our market system depends critically on trust-trust in the word of our colleagues and trust in the word of those with whom we do business.
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Rules cannot take the place of character.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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We ought to be opening up our borders to skilled labour from all parts of the world because [the state of the world is as follows: ].
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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.
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Before I met Ayn Rand, I was a logical positivist, and accordingly,
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No one has ever eliminated any of that stuff.
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The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…
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Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency, that no fiat currency, including the dollar, can match.
ALAN GREENSPAN