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  • While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity.

    Alan Greenspan
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    "The mortgage market and consumer debt". Remarks by Chairman Alan Greenspan At America’s Community Bankers Annual Convention, Washington, D.C., www.federalreserve.gov. October 19, 2004.
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While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity. - Alan Greenspan
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