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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
Economist
Entrepreneur
Jazz Musician
Politician
New York City
New York
Dealt
Lows
Periods
Risk
Economy
Premiums
History
Protracted
Aftermath
Kindly

More quotes by Alan Greenspan

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The recent evidence increasingly suggests that an economic expansion is already well under way, although an array of influences unique to this business cycle seems likely to moderate its speed.
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If I say something which you understand fully in this regard, I probably made a mistake.
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Excessive optimism sows the seeds of its own reversal.
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I've always argued that this country has benefited immensely from the fact that we draw people from all over the world.
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Crony capitalism is essentially a condition in which... public officials are giving favours to people in the private sector in payment of political favours.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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This decade is strewn with examples of bright people who thought they built a better mousetrap that could consistently extract abnormal returns from the financial markets. Some succeed for a time. But while there may occasionally be mis-configurations among market prices that allow abnormal returns, they do not persist.
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If we are to remain preeminent in transforming knowledge into economic value, America's system of higher education must remain the world's leader in generating scientific and technological breakthrough, and in meeting the challenge to educate workers.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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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.
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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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Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this.
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Now, I only play very occasionally, and in fact, more piano than clarinet or sax.
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If all currencies are moving up or down together, the question is: relative to what? Gold is the canary in the coal mine. It signals problems with respect to currency markets. Central banks should pay attention to it.
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
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The tub helps me relax, and it's a great place to read.
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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.
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If we allow terrorism to undermine our freedom of action, we could reverse at least part of the palpable gains achieved by postwar globalization. It is incumbent upon us not to allow that to happen.
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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.
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It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations, enhances a person's ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making
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