I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
ALAN GREENSPANSignificantly opening up immigration to skilled workers solves two problems.
More Alan Greenspan Quotes
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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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I’m always amazed that my wife can handle different subjects – one day politics, the next day foreign policy.
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So there is no reason to suspect that the actual process of boosting rates would be any different.
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The only sustainable way to increase demand for vacant houses is to spur the formation of new households. Admitting more skilled immigrants, who tend to earn enough to buy homes, would accomplish that while paying other dividends to the U.S. economy.
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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.
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I love to play tennis and golf, listen to music, watch baseball and root for the Redskins.
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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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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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Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Productivity is notoriously difficult to predict.
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I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.
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Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.
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Market financed withdrawals of home equity in recent years.
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Such caution seems especially warranted with regard to the sharp rise in equity prices during the past two years. These gains have obviously raised questions of sustainability.
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I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well.
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While these tendencies were no doubt in train in the “old,” pre-1990s economy, they accelerated over the past decade as a number of technologies with their roots in the cumulative innovations of the past half-century began to yield dramatic economic returns.
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Gold stands in the way of this insidious process. It stands as a protector of property rights.
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Anything that we can do to raise personal savings is very much in the interest of this country.
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Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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The need for values is inbred. Their content is not.
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When trust is lost, a nation’s ability to transact business is palpably undermined.
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I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.
ALAN GREENSPAN