News about Alan Greenspan

One may have guessed that the trial of crypto fraudster Sam Bankman-Fried would have made serious investors and regulators wary of the peculiar world of computer generated currencies. Bitcoin and the majority of the crypto world lacks transparency and governance that investors are looking for. Given all the 'known unknowns' about crypto and the demise of FTX, the devotees of these pseudo-currencies remain unapologetic. Despite billions of dollars in savings that were wiped out by Bankman-Fried's white collar swindle, the mystique is still present. It is troubling that regulators, including the Financial Conduct Authority, seek to bring crypto under their control as an investment class.

GINGRICH: The nation is now $31.4 trillion in debt. The debt, astonishmently, could be a larger spending item by 2025 than the entire Department of Defense. Interest payments accounted for $475 billion in the 2022 fiscal year. That's almost as much as the $677 billion spent on education, with more than $677 billion spent on veterans' insurance and transportation combined. The country will be saved from this fiscal insanity if there is a balanced budget - the new idea of not spending more than is collected in revenue. However, getting there will not be straightforward. I know what it takes. We undertook precisely the kind of dramatic transition that we now need when I was Speaker in 1995.

Brent Crude Futures dropped by 2.4 percent to $80.16 per barrel shortly before 11 a.m., while West Texas Intermediate crude dropped by 2.3 percent to $75.37 a barrel. Following Russia's complete takeover of Ukraine, both benchmarks are now more than $4 below their price at the same time yesterday and much cheaper than during the summer of 2022.

A plane's high-speed, hard landing of a plane causes anxiety, as well as immediate and long-term damage. There is a growing sense, particularly in the aftermath of this week's rate increase, that the UK is headed for a rough landing in 2023, with the Bank of England advising that we should brace for a downturn.