QUOTES by Alan Greenspan
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"The only way to have several currencies from divergent nations lumped together is if they are culturally close, such as Germany, the Netherlands and Austria. If they aren't, it simply can't continue to work."
Quote by -Alan Greenspan
"If I seem unduly clear to you, you must have misunderstood what I said. -- Speaking to a Senate Committee in 1987, as quoted in the Guardian Weekly, November 4, 2005."
Quote by -Alan Greenspan
"We're a democratic society. Shutting down the government should not be on the agenda."
Quote by -Alan Greenspan
"I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I said."
Quote by -Alan Greenspan
"Markets do very weird things because it reacts to how people behave, and sometimes people are a little screwy."
Quote by -Alan Greenspan
"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."
Quote by -Alan Greenspan
"There are errors in this book. I do not know where they are. If I did they wouldn't be there. But with close to two hundred thousand words my probabilistic mind tells me some are wrong."
Quote by -Alan Greenspan
"I've been in and out of Wall Street since 1949, and I've never seen the type of animosity between government and Wall Street. And I'm not sure where it comes from, but I suspect it's got to do with a general schism in this society which is really becoming ever more destructive."
Quote by -Alan Greenspan
"History has not dealt kindly with the aftermath of protracted periods of low risk premiums."
Quote by -Alan Greenspan
"Fear is a far more dominant force in human behaviour than euphoria - I would never have expected that or given it a moment's thought before, but it shows up in the data in so many ways."
Quote by -Alan Greenspan
"Look, I'm very much in favor of tax cuts, but not with borrowed money. And the problem that we've gotten into in recent years is spending programs with borrowed money, tax cuts with borrowed money, and at the end of the day that proves disastrous. And my view is I don't think we can play subtle policy here."
Quote by -Alan Greenspan
"Anything that we can do to raise personal savings is very much in the interest of this country."
Quote by -Alan Greenspan
"If I turn out to be particularly clear, you've probably misunderstood what I've said."
Quote by -Alan Greenspan
"When you go back and look at American history, it's not terribly different from Canadian history. If you weren't self-reliant on the prairie, you wouldn't survive."
Quote by -Alan Greenspan
"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."
Quote by -Alan Greenspan
"The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake."
Quote by -Alan Greenspan
"The very nature of finance is that it cannot be profitable unless it is significantly leveraged... and as long as there is debt, there can be failure and contagion."
Quote by -Alan Greenspan
"There are winners and there are losers. And as much as we would like to help the losers, if we do it in the way that directs the limited capital of the society to support the low-productivity parts of the economy, it means that the rest of the economy - our overall standard of living - will not rise as much as it could."
Quote by -Alan Greenspan
"There are winners and there are losers. And as much as we would like to help the losers, if we do it in the way that directs the limited capital of the society to support the low-productivity parts of the economy, it means that the rest of the economy - our overall standard of living - will not rise as much as it could."
Quote by -Alan Greenspan
"Before I met Ayn Rand, I was a logical positivist, and accordingly, I didn't believe in absolutes, moral or otherwise. If I couldn't prove a proposition with facts and figures, it was without merit."
Quote by -Alan Greenspan
"Europe is very critical to the United States in the sense not only do we have a fourth of our exports there, but more importantly, a significant proportion of the foreign affiliate profits in fact, half of U.S. corporations, are in Europe."
Quote by -Alan Greenspan
"There is a huge number of people outside our borders who would love to come here. In fact, many of them come here, get well educated, and then are required to leave... This is a factor in income inequality."
Quote by -Alan Greenspan
"Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs."
Quote by -Alan Greenspan
"Most high-income people in our country do not realize that their incomes are being subsidized by their protection from competition from highly skilled people who are prevented from immigrating to the United States. But we need such skills in order to staff our productive economy, so that the standard of living for Americans as a whole can grow."
Quote by -Alan Greenspan
"I stated that I'm a libertarian Republican, which means I believe in a series of issues, such as smaller government, constraint on budget deficits, free markets, globalization, and a whole series of other things, including welfare reform."
Quote by -Alan Greenspan
"I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well."
Quote by -Alan Greenspan
"I have found no greater satisfaction than achieving success through honest dealing and strict adherence to the view that, for you to gain, those you deal with should gain as well."
Quote by -Alan Greenspan
"I do not understand where the backing of Bitcoin is coming from. There is no fundamental issue of capabilities of repaying it in anything which is universally acceptable, which is either intrinsic value of the currency or the credit or trust of the individual who is issuing the money, whether it's a government or an individual."
Quote by -Alan Greenspan
"Corruption, embezzlement, fraud, these are all characteristics which exist everywhere. It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum. No one has ever eliminated any of that stuff."
Quote by -Alan Greenspan
"We really can't forecast all that well, and yet we pretend that we can, but we really can't."
Quote by -Alan Greenspan
"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."
Quote by -Alan Greenspan
"One of the problems with hedge funds is that they are changing so rapidly. If you have the balance sheet that closed business last night, by 11 A.M. this morning, that won't tell you very much about what they're doing."
Quote by -Alan Greenspan
"The only way you get economic progress, real standards of living moving higher, is to have the savings of the society continuously invested in the cutting-edge technologies. And those technologies which are obsolescent get dropped out."
Quote by -Alan Greenspan
"I get so engaged when I have a problem you cannot solve that I just cannot break away from what I am doing - I keep thinking and thinking and cannot stop."
Quote by -Alan Greenspan
"Every economy exists, no matter what the level of democracy, has elements of crony capitalism. It's - given human nature and given the democratic structures, which we all, I assume, adhere to, that is an inevitable consequence."
Quote by -Alan Greenspan
"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."
Quote by -Alan Greenspan
"I always believed in animal spirits. It's not their existence that is new. It's the fact that they are not random events, but actually replicate in-bred qualities of human nature which create those animal spirits."
Quote by -Alan Greenspan
"Chinese productivity is the highest in the world but the way they do it is by borrowing the technology from abroad, either by joint ventures or other means."
Quote by -Alan Greenspan
"Chinese productivity is the highest in the world but the way they do it is by borrowing the technology from abroad, either by joint ventures or other means."
Quote by -Alan Greenspan
"An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable."
Quote by -Alan Greenspan
"The person I liked the best was Gerald R. Ford. He was the most decent man in politics I ever had any relationships with."
Quote by -Alan Greenspan
"Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds. Then fear hits, and it comes down very sharply. When I started to look at that, I was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart."
Quote by -Alan Greenspan