Alan Greenspan Quotes, Character Quotes

But rules cannot substitute for character.

5 years ago

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Tags : Alan Greenspan Quotes , Character Quotes

It seems superfluous to constrain trading in some of the newer derivatives and other innovative financial contracts of the past decade. The worst have failed; investors no longer fund them and are not likely to in the future.

5 years ago

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Tags : Alan Greenspan Quotes , Business Quotes , Past Quotes

While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.

5 years ago

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Tags : Alan Greenspan Quotes , Diversity Quotes , Imbalance Quotes

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.

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Tags : Alan Greenspan Quotes , Safety Quotes , Gold Quotes

Regulation - which is based on force and fear - undermines the moral base of business dealings. It becomes cheaper to bribe a building inspector than to meet his standards of construction. Protection of the consumer by regulation is thus illusory.

5 years ago

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Tags : Alan Greenspan Quotes , Regulation Quotes , Moral Quotes

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.

5 years ago

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Tags : Alan Greenspan Quotes , Business Quotes , Years Quotes

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. In the process we have created [a] privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals. Eliminating such restrictions would reduce at least some of the income inequality.

5 years ago

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Tags : Alan Greenspan Quotes , America Quotes , Labor Force Quotes

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.

5 years ago

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Tags : Alan Greenspan Quotes , Talking Quotes , Today Quotes

All taxes are a drag on economic growth. It's only a question of degree.

5 years ago

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Tags : Alan Greenspan Quotes , Political Quotes , Growth Quotes

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.

5 years ago

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Tags : Alan Greenspan Quotes , Running Quotes , Financial Quotes

As long as we issue fiat currency, I see no alternative to a legal tender law.

5 years ago

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Tags : Alan Greenspan Quotes , Money Quotes , Law Quotes

I'm always amazed that my wife can handle different subjects - one day politics, the next day foreign policy. And she always has so much fun doing it. We make a good team.

5 years ago

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Tags : Alan Greenspan Quotes , Fun Quotes , Team Quotes

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.

5 years ago

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Tags : Alan Greenspan Quotes , Home Quotes , House Quotes

The need for values is inbred. Their content is not.

5 years ago

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Tags : Alan Greenspan Quotes , Needs Quotes , Inbreds Quotes

Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices, ... This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.

5 years ago

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Tags : Alan Greenspan Quotes , Risk Quotes , Aftermath Quotes

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.

5 years ago

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Tags : Alan Greenspan Quotes , Gold Quotes , Derivatives Quotes

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. The number of mistakes I have made are just awesome. There is no number large enough to account for that.

5 years ago

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Tags : Alan Greenspan Quotes , Mistake Quotes , Successful Quotes

In an economy that already has lost some momentum, one must remain alert to the possibility that greater caution and weakening asset values in financial markets could signal or precipitate an excessive softening in household and business spending.

5 years ago

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Tags : Alan Greenspan Quotes , Momentum Quotes , Financial Quotes

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-market financed withdrawals of home equity in recent years.

5 years ago

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Tags : Alan Greenspan Quotes , Home Quotes , Years Quotes

I was a fairly good amateur musician, and I was an average professional. But the one thing I saw was that the big band business was fading.

5 years ago

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Tags : Alan Greenspan Quotes , Average Quotes , Musician Quotes