In an environment of weak financial systems, lax supervisory regimes, and vague assurances about depositor or creditor protections, the state of confidence so necessary to the functioning of any banking system was torn asunder.
More Quotes from Alan Greenspan:
The fact of the matter is, we do not have an unlimited amount of labor, ... the wealth effect cannot persist indefinitely.Alan Greenspan
But it is clear that, for the time being at least, the increase in spending on consumer goods and houses has come down several notches, albeit from very high levels.
Alan Greenspan
some drop-off in those earnings from Asia in the period ahead. In addition, there will be indirect effects on the U. S. real economy.
Alan Greenspan
Until we experience an economic slowdown, we will not know for sure how much of the extraordinary rise in output per hour in the past five years is attributable to the irreversible way value is created and how much reflects endeavors on the part of the business community to stretch existing capital and labor resources in ways that are not sustainable over the long run,
Alan Greenspan
We should not be cutting taxes by borrowing, ... We do not have the capability of having both productive tax cuts and large expenditure increases, and presume that the deficit doesn't matter.
Alan Greenspan
I think people are going to be quite surprised at their heating bills this winter,
Alan Greenspan
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Based on Topics: Confidence Quotes, Environment Quotes, Finance QuotesBased on Keywords: creditor, depositor, supervisory
The real meaning of enlightenment is to gaze with undimmed eyes on all darkness.
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The best part of the art of living is to know how to grow old gracefully.
Eric Hoffer
These impossible women! How they do get around us! The poet was right: Can't live with them, or without them.
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