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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.

Alan Greenspan

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More quotes by Alan Greenspan

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.

I have long argued that paying down the national debt is beneficial for the economy: it keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.

Without calling the overall national issue a bubble, it's pretty clear that it's an unsustainable underlying pattern.

Now, I only play very occasionally, and in fact, more piano than clarinet or sax.