. >> this is the wages ledger that proves greenspan was a low ranking officer in the ghetto.ordered by the germans to establish police forces to make them accessories to nazi war crimes. sons of good families were recruited in a vain attempt to mitigate the german's actions. greenspan signed up on the same day as his best friend, grossman. >> the germans knew what they were planning, that the ghetto will be liquidating, and they knew they would need hands for doing this. >> as the liquidation of the ghetto approached, the jewish police were given a pay raise. >> everyone needs to eat and be safe, so perhaps money -- it was not money but it was the way to survive. >> in the book of remembrance, greenspan's friend describes on how on those two terrible days nazis brutally beat jewish policeman as they shepherded their fellow jews to cattle cars. many of those forced to purchase a paid that's one of those forced to participate was henry -- one of those forced to participate was henry. >> we had to cooperate with the germans. they used us under the threat of shooting us. and we d

for more we are joined by elise greenspan from wells fargo.essa brewer who covers the insurance sector for us. it is impossible to put a toll or a number but it seems cold. we have to do it. what do we know about the insurers right now? >> thank you for having me. before i get started, it is devastating for those in california. in terms of the insurance industry, this is what the insurance industry is there for. you know, to settle and pay these claims. in terms of our estimates, this will be a $20 billion plus loss. you were talking about the 10,000 structures that have been damaged. you know, property values out there on average around $3 million. if you do the math with those few numbers you can go from 20 billion to perhaps $30 billion of losses for the insurance industry. >> i want to be very clear and careful, contest, we don't have any idea how these fires started. we do not know where the blame may or may not be. the insurance companies are there to pick up the pieces and rebuild. what can you tell us about liability given a lot of hom

a lot of people are saying potentially, i think greenspan said there was some irrational exuberance during, when everything exploded, and it feels like that right now with ai. the housing market, we need to start to get buyers and sellers in the market. sellers are holding off because you locked in a rate at 5%. people don't want to give up their lower rates for higher rates. why would they? there is no inventory, prices are high and rates are high. people are sort of -- sonali: what will move the needle? what level of rates do you think will be the new unlocking level? bess: there was a survey done that i read about, people said they would get in the market around 5.5%. that doesn't mean everyone but people feel like that still feels comfortable. last time i was here, we talked about that. it is slow and steady. all progress is incremental. let's hope the economy holds, let's hope there is not more inflation. if those things happen, it could be even more challenging. sonali: are there hopeful signs when it comes to inventory? bess: i cannot lie to you. we are seeing a bit of a pickup, so

denmark wants to talk and greenspan wants -- greenland wants to talk, isn't that interesting. what do you make of it. >> he has been serious, he is a deal maker. president trump love ing to make deals, he understands that national security aspect of what is going on with greenland, they have minerals and resources at the end of the day they want better leadership in greenland. i think president trump will sit down with the entities and we understand that china and russia is moving into the arctic circle. they are moving in with ice busters that is close we need a present there, right now we have a military presence if we could make a deal with them with more presence we have to be able to protect our northern front, what better way to make a better relationship with greenland also better relationship with the people in th the ac in the. >> thank you senator tommy tuberville, good luck tomorrow in the hearing. >> thank you. larry: coming on kudlow will congress ever cut spending in our lifetime? you know ever cut spending two trillion dollar deficit. even more education lone ca

in the fed has discussed what it has met and alan greenspan at one time said i think it means 0 inflation end of the argument. >> any overture from the current administration for a position for you? >> i would not say anything and i'm very honored. >> i appreciate that and i would be very eager to say so if and when the opportunity arises. >> let's see if the second time is a charm we will be watching, please come back. >> thank you so much good to see you. the deepseek drama is slamming the a.i. sector still. we have 28 minutes left to trade what does it mean to all the silicon valley and silicone venture capitalist who were planning support huge amounts of cash into artificial intelligence startups this year, carter ream is one of them the m13 cofounder has been one of the top vcs in the nation he will join us live in studio and a fox business exclusive this is a rare interview. we will ask him are you still ceding startups that are focused on a.i. and does this situation scare you? a dexcom g7 is one of the easiest ways to take better control of your diabetes. this small wearable... re

elise greenspan follows the insurance injury for wells fargo. welcome to the show.osses and it could go up to 40. >> yeah, we have set expectations around 30 billion of insured losses with the expectation that things could rise to 40 billion, and to your earlier point, this is a loss that's really going to fall on the personal property side. so really hit, you know, homeowners insurers, we expect around 85% of that, you know, 30 to perhaps $40 billion loss will fall on the homeowners side with a much smaller percentage on commercial property. >> we had a stat in our intro about insurance costs rising. itst it's actually they rose 9% more than the pace of inflation. that's extremely steep, and sounds like they're only going to go higher. is there a point at which you're afraid the industry is going to fall under scrutiny? that is one of the big drivers of inflation, in terms of these inflation reports, insurance costs, that's not going down. any pressure, external pressure on the insurance companies? there's really no way around it in some aspects of it? >> exactly.

when i think about the late '90s, in '95 when greenspan said the markets are showing a -- irrational exuberance, and the s&p proceeded to go up 25% a year for the next five years. we've had two 25% plus five years. the last year was clearly driven by the fateful eight, right? and i know cnbc has this thing about the mag seven, which is funny. you know, they should throw the broadcom in there, make it the fateful eight. so, maybe these companies, the capex comes in better than expected. that's what i'm really waiting for next week, to see what they have to say on that front. >> agreed. the capex numbers from all the other -- that's going to be important. but at least now, there's potential money coming from the government to replace that capex -- >> but that's the thing. it's not coming from the government. that was the chips act last year. that was -- >> a government-sponsor funnel from the private sector into some of these companies. >> yeah. >> maybe. >> let me just go to fateful eight, mag seven, whatever you want to call them. there's a couple of them that even with this run, the

i think it was alan greenspan that said if you understand what i said i must have misspoke. rick. thank you very much. >> all right. >> bob pisani i hope our fed panel. >> is gone because i'm. >> going. >> to say something really. really just inappropriate here. just if. >> you're. >> listening on the radio, turn the volume down. you don't want to hear this. >> which is that. >> bob i feel. >> like nvidia. >> right. >> now like the fed. we know. >> they're kind of on hold nvidia is not on hold. nvidia is down. >> what five 6%. there's a lot of fears around stuff. >> so we're not only watching the fed. and i think the press conference. >> is very. >> important coming up. >> but there's. >> a lot of. >> other stuff. >> happening under the hood that has nothing. >> to do. >> with the. >> fed that i think is. >> equally. >> if not more so important. >> right. >> now. >> including the. >> big rotation. >> we're. >> seeing today. i mean, before. >> this, there was more stocks. >> up than down. >> and i. >> agree, there's. >> obviously some money coming. >> out of nvidia. >> i just want

think back to the greenspan commission on social security, a very successful reform on social security. they did not change much for 20 years. they gave people 20 years notice that they would increase the retirement age. the reason you do that is that you are a pretty young fellow. if we were going to do anything that affected your thinking about retirement, we should give you plenty of time to adjust your saving patterns so you still have the healthly retirement you deserve. as an economist from that literature it is clear. alan our back and bill gail had a piece on the long-run budget deficit. it is clear that moving earlier is better than moving later. but it does not mean you affect current retirees. it is like giving people a chance to plan to minimize the impact from reforms you might make. linda: you have survived your hour. thank you for coming, and i hope you will join us again. dr. hassett: of course. thank you. >> more from the c-span archives now of ken hassett, the presidenelect's pk to chair the national economic council. in 2019, he joined the national review institute's

. >> alan greenspan. >> figured it out before others during his tenure. there are a couple of well respected governors who wanted to tighten policy, thinking that we were on the verge of an inflationary pressure, and he slowed things down quite a bit and proved to be right. and so i think this one is slightly different in that it's much more visible. and we're starting already to see some of the impacts. so i think this will play out much more quickly for reasons that you've talked about. businesses are adopting this technology, using it to change how they do business in things such as call centers. so i actually expect this to play out relatively quickly. and so much in the news that i think all of us will be able to see it and measure it for ourselves. >> you know. >> a week ago i would have said that i would have expected the fed to pause at this go around. they kind of set it up for such. we've seen the rate cuts. we've seen a lot of questions about what comes next. and i thought the fomc was kind of in a good position to just pause and look around. t