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We will have more crises and none of them will look like this because no two crises have anything in common except human nature.

Alan Greenspan

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Alan Greenspan
Age: 98
Born: 1926
Born: March 6
Banker
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New York City
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More quotes by Alan Greenspan

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How do we know when irrational exuberance has unduly escalated asset values?
Alan Greenspan
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I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said.
Alan Greenspan
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If I say something which you understand fully in this regard, I probably made a mistake.
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As long as we issue fiat currency, I see no alternative to a legal tender law.
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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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If you think you understand what I am saying you do not understand what I am saying.
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In general, corruption tends to exist whenever governments have favors to extend, or something to sell.
Alan Greenspan
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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.
Alan Greenspan
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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.
Alan Greenspan
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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
Alan Greenspan
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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.
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Without calling the overall national issue a bubble, it's pretty clear that it's an unsustainable underlying pattern.
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[Republicans] swapped principle for power. They ended up with neither. They deserved to lose.
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History has not dealt kindly with the aftermath of protracted periods of low risk premiums.
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It is decidedly not true that nice guys finish last, as that highly original American baseball philosopher, Leo Durocher, was alleged to have said.
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When trust is lost, a nation's ability to transact business is palpably undermined.
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All taxes are a drag on economic growth. It's only a question of degree.
Alan Greenspan
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We may be in a rapidly evolving international financial system with all the bells and whistles of the so-called new economy. But the old-economy rules of prudence are as formidable as ever. We violate them at our own peril.
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Anything that we can do to raise personal savings is very much in the interest of this country.
Alan Greenspan
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I came to a stark realization: chronic surpluses could be almost as destabilizing as chronic deficits.
Alan Greenspan