The bottom line, however, is that, while immigration and imports can significantly cushion the consequences of the wealth effect and its draining pool of unemployed workers for awhile, there are limits,
More Quotes from Alan Greenspan:
in more vulnerable countries where (the principal bank's) guarantee is more likely to be called upon and (where) cost might deter some aberrant borrowing.Alan Greenspan
these borrowers, and the institutions that service them, could be exposed to significant losses.
Alan Greenspan
The good news is that evidence is becoming more persuasive that our electronic infrastructure will be ready for the Century Date Change, ... The public's understanding of the degree of our Y2K readiness also has grown, and fears of widespread disruptions around the CDC appear to be waning, though we are not as yet home free.
Alan Greenspan
As I indicated several weeks ago to a university audience, ... it is just not credible that the United States, or for that matter Europe, can remain an oasis of prosperity unaffected by a world that is experiencing greatly increased stress.
Alan Greenspan
A gradual reduction over time of the GSE portfolios should be a non-event to investors and market participants, other than GSE shareholders,
Alan Greenspan
Somewhat to my surprise, this came out as a far more robust relationship, indicating the greater the deficit, the greater the long-run interest rate,
Alan Greenspan
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