The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.
ALAN GREENSPANI 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.
More Alan Greenspan Quotes
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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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History demonstrates that participants in financial markets are susceptible to waves of optimism.
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Rules cannot take the place of character.
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The number of mistakes I have made are just awesome. There is no number large enough to account for that.
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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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Derivatives have permitted the unbundling of financial risks.
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There’s an interesting question here because if the gold price broke in that context, the thermometer would not be just a measuring tool. It would basically affect the underlying psychology.
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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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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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If I seem unduly clear to you, you must have misunderstood what I said.
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Market financed withdrawals of home equity in recent years.
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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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Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.
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The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.
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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.
ALAN GREENSPAN