Alan Greenspan

The US economy came to a virtual standstill in the final three months of 2007 as the deepest slump in the real estate market for a quarter of a century acted as a brake on expansion, according to data released in Washington today.

The world economy is facing the risk of both recession and faster inflation. Global growth this quarter and next may be the slowest in four years, while inflation might be the fastest in a decade, say economists at JPMorgan Chase & Co.

Former Federal Reserve Chairman Alan Greenspan says the odds the U.S. will fall into a recession are "clearly rising" and he believes economic growth is "getting close to stall speed."

WASHINGTON -- Treasury Secretary Henry Paulson told Congress on Wednesday the government will hit the current debt ceiling on Oct. 1. He sought quick action to increase the limit, saying it was essential to protect the "full faith and credit" of the country, especially at a time of financial market turmoil. The limit is $8.965 trillion. Unless Congress votes to raise it, the country would be unable to borrow more money to keep the government operating and to pay debt obligations coming due.

Sept. 17 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said China will be the U.S.'s major competitor by 2030 and the world's economic fate depends on how much more Chinese leaders embrace markets.

The pessimists who have long forecasted that America’s economy was in for trouble finally seem to be coming into their own. Of course, there is no glee in seeing stock prices tumble as a result of soaring mortgage defaults. But it was largely predictable, as are the likely consequences for both the millions of Americans who will be facing financial distress and the global economy.

The Allied Forces obtained a reproduction of the "Communist Rules for Revolution" in 1919. Looking back, it is apparent that the “powers that be” have been quite successful implementing the plan.