Alan Greenspan Quotes, Past Quotes, Japan Quotes

Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets. We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past. But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?

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Tags : Alan Greenspan Quotes , Past Quotes , Japan Quotes

Gold still represents the ultimate form of payment in the world. Fiat money in extremis is accepted by nobody. Gold is always accepted.

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Tags : Alan Greenspan Quotes , Gold Quotes , World Quotes

If I say something which you understand fully in this regard, I probably made a mistake.

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Tags : Alan Greenspan Quotes , Mistake Quotes , Made Quotes

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

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Tags : Alan Greenspan Quotes , Political Quotes , Growth Quotes

I'm a better economist than I was a sax player.

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Tags : Alan Greenspan Quotes , Player Quotes

History demonstrates that participants in financial markets are susceptible to waves of optimism. Excessive optimism shows the seeds of its own reversal in the form of imbalances that tend to grow over time.

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Tags : Alan Greenspan Quotes , Optimism Quotes , Imbalance Quotes

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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Tags : Alan Greenspan Quotes , Running Quotes , Zero Quotes

Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.

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Tags : Alan Greenspan Quotes , Jobs Quotes , Philosophy Quotes

The arts develop skills and habits of mind that are important for workers in the new economy of ideas.

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Tags : Alan Greenspan Quotes , Art Quotes , Skills Quotes

Capitalism is based on self-interest and self-esteem; it holds integrity and trustworthiness as cardinal virtues and makes them pay off in the marketplace, thus demanding that men survive by means of virtue, not vices. It 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.

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Tags : Alan Greenspan Quotes , Integrity Quotes , Self Esteem Quotes

Excessive optimism sows the seeds of its own reversal.

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Tags : Alan Greenspan Quotes , Optimism Quotes , Reversal Quotes

Regulation of derivatives transactions that are privately negotiated by professionals is unnecessary.

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Tags : Alan Greenspan Quotes , Regulation Quotes , Derivatives Quotes

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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Tags : Alan Greenspan Quotes , Imagination Quotes , Able 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.

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Tags : Alan Greenspan Quotes , Regulation Quotes , Moral Quotes

Regulators have not been able to achieve the level of future clarity required to act pre-emptively. The problem is not lack of regulation but unrealistic expectations. What we confront in reality is uncertainty, some of it frighteningly so...

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Tags : Alan Greenspan Quotes , Ignorance Quotes , Reality Quotes

To succeed, you will soon learn, as I did, the importance of a solid foundation in the basics of education - literacy, both verbal and numerical, and communication skills.

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Tags : Alan Greenspan Quotes , Success Quotes , Education 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.

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Tags : Alan Greenspan Quotes , Home Quotes , Years Quotes

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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Tags : Alan Greenspan Quotes , Mistake Quotes , Self Quotes

If you think you understand what I am saying you do not understand what I am saying.

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Tags : Alan Greenspan Quotes , Thinking Quotes , Economist Quotes

The guiding purpose of the government regulator is to prevent rather than to create something.

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Tags : Alan Greenspan Quotes , Government Quotes , Purpose Quotes