Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
ALAN GREENSPANIt is this superlatively moral system that the welfare statists propose to improve upon by means of preventative law, snooping bureaucrats, and the chronic goad of fear.
More Alan Greenspan Quotes
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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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The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.
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I’m not denying that monopolies are terrible things, but I am denying that it is readily easy to resolve them through legislation of that nature.
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Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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A decline in the national housing price level would need to be substantial to trigger a significant rise in foreclosures, because the vast majority of homeowners have built up substantial equity in their homes despite large mortgage.
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I have long argued that paying down the national debt is beneficial for the economy.
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The Iraq War is largely about oil.
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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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But material success is possible in this world and far more satisfying when it comes without exploiting others.
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What an ideology is is a conceptual framework with the way people deal with reality.
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You can’t have the capitalist system if an increasing number of people think it is unjust.
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Gold, unlike all other commodities, is a currency…and the major thrust in the demand for gold is not for jewelry.
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There is no evidence that the business cycle has been repealed.
ALAN GREENSPAN