All taxes are a drag on economic growth. It’s only a question of degree.
ALAN GREENSPANBut material success is possible in this world and far more satisfying when it comes without exploiting others.
More Alan Greenspan Quotes
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And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.
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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 must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I’m running into the tyranny of zero, which is where you can’t reduce (the debt) any more
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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Institutions of the newer participants in global finance had not been tested, until recently…recent crisis have underscored certain financial structure vulnerabilities that are not readily assuaged in the short run.
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It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade.
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It’s a bubble. It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.
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Without the triggers, that tax cut is irreponsible fiscal policy. Eventually, I think that will be the consensus view.
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Productivity is notoriously difficult to predict.
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People dont realize that we cannot forecast the future. What we can do is have probabilities of what causes what, but thats as far as we go. And Ive had a very successful career as a forecaster, starting in 1948 forward.
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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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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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Since I’ve become a central banker, I’ve learned to mumble with great incoherence.
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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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What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
ALAN GREENSPAN