George Pataki, former New York governor, discusses the problems with Puerto Rico's debt crisis and what the Trump administration could do to help.
Puerto Rico's governor, Ricardo Rossello, is trying to balance between pursuing his party's long term goal of statehood and working to save the island's economy. He has to choose.
A federal control board overseeing Puerto Rico’s finances rejected the U.S. territory’s proposed budget on Tuesday because it said it lacks at least $200 million in specific cost-saving measures and contains nearly $120 million in overspending and ineligible expenditures.
Authored by Patrick Buchanan via Buchanan.org, If Gov. Bruce Rauner and his legislature in Springfield do not put a budget together by Friday, the Land of Lincoln will be the first state in the Union to see its debt plunge into junk-bond status. Illinois has $14.5 billion in overdue bills, $130 billion in unfunded pension obligations, and no budget. “We can’t manage our money,” says Rauner. “We’re like a banana republic.” Speaking of banana republics, Puerto Rico, which owes $74 billion to creditors who hold its tax-exempt bonds, and $40 billion in unfunded pension liabilities, has already entered bankruptcy proceedings. The island’s imaginative 38-year-old governor, Ricardo Rossello, however, has a solution. Call Uncle Sam. On June 11, Rossello held a plebiscite, with a 23 percent turnout, that voted 97 percent to make Puerto Rico our 51st state. “(T)he federal government will no longer be able to ignore the voice of the majority of the American citizens in Puerto Rico,” said Rossello. Washington cannot “demand democracy in other parts of the world, and not respond to the legitimate right to self-determination that was exercised today in the American territory of Puerto Rico.” Had the governor been talking about the island’s right to become free and independent, he would have had a point. But statehood inside the USA is something Uncle Sam decides. Rossello calls to mind Count Mountjoy of Grand Fenwick, who, in “The Mouse that Roared,” plotted to rescue his bankrupt duchy by declaring war on the U.S., sailing to America to surrender, and then demanding the foreign aid America bestows on defeated enemies. Yet Puerto Rico’s defaults on its debts may soon be our problem. Many bond funds in which Americans have invested their savings and retirement money are full of Puerto Rican bonds. According to The New York Times, the U.S. Virgin Islands, the Northern Marianas and Guam are in the same boat. With 100,000 people, the Virgin Islands owe $6.5 billion to pensioners and creditors. Then there is Connecticut, a state that has long ranked in the top tier in per capita income and wealth. Connecticut, too, appears wobbly. Rising pension benefits, the cost of servicing the state debt and falling tax revenue due to fleeing residents and companies like Aetna and General Electric, have dropped Connecticut to near the national bottom in growth prospects. “The state’s population is falling: Its net domestic out-migration was nearly 30,000 from 2015 to 2016. In 2016, it lost slightly more than 8,000 people, leaving its population at 3.6 million,” reports Fox News: “(R)ecent national moving company surveys (show) more people leaving Connecticut than moving in. In 2016, the state also saw a population decline for the third consecutive year.” As its example of a welfare state going belly up, the EU offers us Greece. And questions arise from all of these examples. Is this an inexorable trend? Has the old New Deal formula of “tax and tax, spend and spend, and elect and elect” finally run its course? Across the West, social welfare states are threatened by falling revenues, taxpayer flight, rising debt as a share of GDP, sinking bond ratings and proliferating defaults. Record high social welfare spending is among the reasons that Western nations skimp on defense. Even the Americans, who spent 9 percent of GDP on defense under President Kennedy and 6 percent under President Reagan, are now well below that, though U.S. security commitments are as great as they were in the Cold War. Among NATO nations, the U.S. is among the least socialist, with less than 40 percent of GDP consumed by government at all levels. France, with 57 percent of GDP siphoned off, is at the opposite pole. Yet even here in America we no longer grow at 4 percent a year, or even 3 percent. We seem to be nearing a point of government consumption beyond the capacity of the private sector to provide the necessary funds. Some Democrats are discovering there are limits to how much the government can consume of the nation’s wealth without adversely affecting their own fortunes. And in the Obamacare debate this week, Republicans are running head-on into the reality that clawing back social welfare benefits already voted may be political suicide. Has democratic socialism passed its apogee? Native-born populations in the West are aging, shrinking and dying, not reproducing themselves. The cost of pensions and health care for the elderly is inexorably going up. Immigration into the West, almost entirely from the Third World, is bringing in peoples who, on balance, take more in social welfare than they pay in taxes. Deficits and national debts as a share of GDP are rising. Almost nowhere does one see the old robust growth rates returning. And the infrastructure of the West — roads, bridges, tunnels, ports, airports, subways, train tracks — continues to crumble for lack of investment. The days of interstate highway systems and moon shots seem to be behind us. Are Puerto Rico and Illinois the harbingers of what is to come?
Costco (COST) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Деньги от продажи правительству нужны будут для погашение долгов, на выполнение текущей операционной деятельности и для других целей. Тем самым представитель Пуэрто Рико, Рикардо Росселло, надеется, что партнерские отношения между государственным и частным секторами, запущенные в течение следующих трех лет, приведут к новым инвестициям в размере 5 млрд резаной и 100 000 рабочих мест.
President Donald J. Trump today announced his intent to nominate the following individuals to key positions in his Administration: Brenda Burman of Arizona to be Commissioner of Reclamation, Department of the Interior. Ms. Burman is currently Director of Water Strategy at the Salt River Project, which operates one of the original Reclamation projects approved in 1903. Ms. Burman has worked for nearly 20 years on western water matters including Tribal water settlements, Colorado River, and other river basin issues. Under the George W. Bush Administration, Ms. Burman served as Deputy Commissioner, the number two position at Reclamation, before becoming Deputy Assistant Secretary for Water and Science. Ms. Burman holds a J.D. from the University of Arizona and a B.A. from Kenyon College. Peter B. Davidson of Virginia to be General Counsel, Department of Commerce. Mr. Davidson recently served as Senior Vice President for Congressional Relations at Verizon Communications, and prior to that, as General Counsel to the United States Trade Representative. He has also served as Vice President for Congressional Relations at USWEST and Qwest, General Counsel and Policy Director to the Majority Leader of the House of Representatives, Attorney-advisor in the Office of Legal Counsel of the Department of Justice, director of congressional and media relations at the United States Information Agency, staff to Representatives Dick Armey and Bill Frenzel, and law clerk on the United States Court of Appeals for the Tenth Circuit. Mr. Davidson has degrees from Carleton College and The University of Virginia School of Law, where he served as Notes Editor on the Law Review. He was raised in Minnesota and northern Wisconsin and currently resides in Virginia with his wife Kari, and they have three children: Madeleine, Sophie, and Björn. Douglas W. Domenech of Virginia to be an Assistant Secretary of the Interior, Insular Affairs. Mr. Domenech currently serves as Senior Advisor to the Secretary of the Interior. Previously he was the Secretary of Natural Resources for the Commonwealth of Virginia, overseeing six state environmental, recreation, and historic resource agencies. He also previously worked for the Forest Resources Association. During the George W. Bush Administration, Domenech served at the Interior Department as White House Liaison and Deputy Chief of Staff to Secretaries Gale Norton and Dirk Kempthorne. In addition, he served as the Acting Deputy Assistant Secretary for Insular Affairs. Mr. Domenech currently serves as the Secretary’s appointee to the Advisory Council of the Conservation Trust of Puerto Rico. His family is from Puerto Rico, and he holds a B.S. in Forestry and Wildlife Management from Virginia Tech University. He is married to Jeanne Domenech and they reside in Alexandria, Virginia. Jason Kearns of Colorado to be a Commissioner of the United States International Trade Commission for the remainder of a 9 year term expiring December 16, 2024. Mr. Kearns currently serves as Chief International Trade Counsel (Democratic Staff) to the Committee on Ways and Means in the House of Representatives. In that position, he advises Members of Congress on legislation concerning trade and on oversight issues involving the Office of the U.S. Trade Representative and other agencies involved in international trade policy and regulation. Before that, he served for three years in the Office of the General Counsel to the U.S. Trade Representative. From 2000 through 2003, Mr. Kearns worked in the international trade group of the law firm, WilmerHale. Mr. Kearns holds a M.P.P. from the Kennedy School of Government at Harvard University, a J.D. from the University of Pennsylvania, and a B.A. from the University of Denver. He is married to Lindy Arnof Kearns and they have three children.
Pat Buchanan, The American ConservativeIf Gov. Bruce Rauner and his legislature in Springfield do not put a budget together by Friday, the Land of Lincoln will be the first state in the Union to see its debt plunge into junk-bond status.
Фильм доступен для просмотра с 27 июня в прямом эфире RTД. Пуэрто-Рико – остров в Карибском море, аннексированный Соединёнными Штатами в 1898 году. Парадокс заключается в том, что его жители – граждане США, но при этом территория не является штатом и управляется по другим правилам. Такая двойственная ситуация постепенно привела к тому, что вот уже несколько лет экономика Пуэрто-Рико находится в глубоком кризисе. Для выхода из него Вашингтон ввёл внешний контроль и меры жёсткой экономии. Подписывайтесь на RTД Russian — http://www.youtube.com/subscription_center?add_user=rtdrussian RTД на русском — https://doc.rt.com/ Vkontakte — http://vk.com/rtdru Facebook — https://www.facebook.com/RTDru/ Twitter — https://twitter.com/rtd_rus
Another month means a whole new batch of titles will soon be available to stream. Here are all the movies and TV shows that will be new on Netflix in July.
PUERTO RICO GOING BANKRUPT: It’s been on the verge for a year. Investors Business Daily says Puerto …
PUERTO RICO GOING BANKRUPT: It’s been on the verge for a year. Investors Business Daily says Puerto Rico “essentially declared bankruptcy” earlier this month. Puerto Rico is currently $73 billion in debt, which is close to 100% of the island’s annual output. It owes a sizeable portion of this to the island’s current and future […]
The number of people smoking in the U.S. has fallen considerably over the years. The most recent figures from Centers for Disease Control and Prevention show that just 15 percent of adults are cigarette smokers - down from 20.9 percent in 2005. There is considerable variation between states though, as this infographic shows. You will find more statistics at Statista As Statista's Martin Armstrong notes, the most smoke-free state is Utah, where 9.1 percent of adults admit to the habit. On the other end of the scale, 26 percent of Kentucky residents represent the most prolific tobacco consumers. Outside of the 50 states, Guam actually has the highest rate of smokers, at 27.4 percent. Puerto Rico, on the other hand has the second lowest rate - 10.7 percent.
Жители Пуэрто-Рико имеют американский паспорт, но не имеют права голоса на выборах президента. В то же время законы, по которым живут пуэрториканцы, принимаются в Соединённых Штатах. На острове зреют протесты против несправедливости такого положения.
Puerto Rico’s governor said Friday that he will go to court to fight a federal control board’s call to cut a public pension system by 10 percent, furlough tens of thousands of government workers and eliminate Christmas bonuses.
Authored by Patrick Buchanan via Buchanan.org, In the first round of the special election for the House seat in Georgia’s Sixth District, 30-year-old Jon Ossoff swept 48 percent. He more than doubled the vote of his closest GOP rival, Karen Handel. A Peach State pickup for the Democrats and a huge humiliation for President Trump seemed at hand. But in Tuesday’s final round, Ossoff, after the most costly House race in history, got 48 percent again, and lost. If Democratic donors are grabbing pitchforks, who can blame them? And what was Karen Handel’s cutting issue? Ossoff lived two miles outside the district and represented the values of the Democratic minority leader, whom he would vote to make the speaker of the house, Nancy Pelosi of San Francisco. The Pelosi factor has been a drag on Democrats in all four of the special elections the party has lost since Trump’s November triumph. Prediction: Democrats will not go into the 2018 Congressional elections with San Fran Nan as the party’s face and future. No way. As President Kennedy said, “Sometimes party loyalty asks too much.” Post-Trump, it is hard to see Republicans returning to NAFTA-GATT free-trade globalism, open borders, mass immigration or Bushite crusades for democracy. A cold realism about America’s limited power and potential to change the world has settled in. And just as Trump put Bush-Romney Republicanism into the dumpster in the 2016 primaries, Hillary Clinton’s defeat, followed by losses in four straight special elections, portend a passing of the guard in the Democratic Party. So where is the party going? Clearly, the energy and fire are on the Bernie Sanders-Elizabeth Warren left. Moreover, the crudity of party chair Tom Perez’s attacks on Trump and the GOP, being echoed now by Democratic members of Congress, suggest that the new stridency to rally the angry left is gaining converts. Trump’s rough rhetoric, which brought out the alienated working class in the ten of thousands to his rallies, is being emulated by “progressives” — imitation being the sincerest form of flattery. Nor is this unusual. After narrow presidential defeats, major parties have often taken a hard turn back toward their base. After Richard Nixon lost narrowly to JFK in 1960, the Republican right blamed his “me-too” campaign, rose up and nominated Barry Goldwater in 1964. A choice, not an echo. After Hubert Humphrey lost narrowly to Nixon in 1968, the Democratic Party took a sharp turn to the left in 1972 and nominated George McGovern. A 21st-century variant of McGovernism seems be in the cards for Democrats today. The salient positions of the party have less to do with bread-and-butter issues than identity politics, issues of race, gender, morality, culture, ethnicity and class. Same-sex marriage, abortion rights, sanctuary cities, Black Lives Matter, racist cops, La Raza, bathroom rights, tearing down Confederate statues, renaming streets, buildings and bridges to remove any association with slave-owners or segregationists, putting sacred tribal lands ahead of pipelines, and erasing the name of the Washington Redskins. The Democrats’ economic agenda? Free tuition for college kids, forgiveness of student loan debt, sticking it to Wall Street and the 1 percent, and bailing out Puerto Rico. And impeachment — though a yearlong FBI investigation has failed to find any Trump-Kremlin collusion to dethrone Debbie Wasserman Schultz or expose the debate-question shenanigans of Donna Brazile. And where are the Democratic successes since Obamacare? The cities where crime is surging, Baltimore and Chicago, have been run for decades by Democrats. The worst-run state in the nation, Illinois, has long been dominated by Democratic legislators. The crisis of the old order is apparent as well across the pond. Jeremy Corbyn, a Bernie Sanders radical socialist, led his party to major gains in the recent parliamentary elections, as Conservative Prime Minister Theresa May saw her majority wiped out and faces the same seditionist grumbling as Nancy Pelosi. Western elites are celebrating the victory of Emmanuel Macron, the “youngest French President since Napoleon,” who defeated Marine Le Pen by a ratio of almost 2-to-1 and whose new party, En Marche! (In Motion!), captured the Assembly. But the celebrating seems premature. For the first time in the history of De Gaulle’s Fifth Republic, neither the center-left Socialists nor center-right Republicans, the parties that have ruled France for 60 years, made it into the finals in a presidential election. And while the first round of that election saw the ruling Socialist Party’s candidate run fifth, with 6 percent, the votes of the rightist Le Pen and far left-Communist Jean-Luc Melenchon together topped 40 percent. It is the flanks of European politics that seem still to be hard and growing, and the center that seems shaky and imperiled. Moreover, Macron faces daunting problems. Unemployment is nearly 10 percent, with youth unemployment twice that. Terrorist attacks from within Muslim communities continue to rise, as do the number of boats of Third Worlders migrating from across the Med. Can anyone believe that, as these trends continue, Europeans will continue to back centrist policies and moderate politicians to deal with them? Dream on. That is not the history of Europe.
Nordstrom Inc. (JWN) is steering ahead with its store expansion plan evident from the announcement of its intention to open another Nordstrom Rack store in Wisconsin in fall of 2018.
Уайтхэвен, АвстралияУайтхэвен-Бич — это красивейшая 7-километровая береговая линия вдоль острова Витсандей. Всемирную известность пляж получил благодаря белоснежному песку. Его окрас обусловлен наличием чистого диоксида кремния (98 %), который придает ему такой оттенок. Розовый пляж, БагамыОстров Харбор является одним из самых удивительных мест Багамских островов. Необыкновенный цвет песок приобретает из-за присутствия крошечных частиц раковин Фораминиферы. Это одноклеточные организмы, обитающие на нижней части рифов, под камнями и в пещерах прибрежного дна океана.Плайя-дель-Амор — скрытый пляж острова Мариета, МексикаЕсли бы не шум волн люди, вероятно, даже не знали бы, о скрытом от глаз пляже. Плайя-дель-Амор расположен в нескольких метрах от побережья необитаемого острова Мариета. Только несколько туристов добираются туда. Настоящий рай для любителей уединиться.Наваджо, ГрецияНа греческом острове Закинф находится один из самых прекрасных пляжей в мире. Когда-то здесь потерпело крушение судно Панайотис, которое принадлежало контрабандистам. Корабль так и покоится до сих пор в белопесчаных дюнах.Ипанема, БразилияВ Рио-де-Жанейро 23 пляжа общей протяженностью 72 километра, но Ипанема — самый изысканный и элитный. Этот пляж, прилегающий к богатому району столицы, облюбовала шикарная и модная публика, которая изо дня в день здесь тусуется, играет в волейбол и бегает трусцой. Словом, приходят других посмотреть и себя показать.Махо, Карибские островаДобро пожаловать на Махо — один из самых необычных пляжей в мире. Он находится на Карибах в 300 км от Пуэрто-Рико. И отдыхающих сюда привлекает не теплый песок и синее море. Сюда отправляются за непередаваемыми острыми ощущениями, ведь буквально в 10-20 метрах над пляжем и туристами с грохотом проносятся заходящие на посадку гигантские авиалайнеры. Опасное, но завораживающее зрелище!Стеклянный пляж, СШАНедалеко от города Форт Брэгг в Калифорнии есть интересный пляж, усыпанный разноцветными стекляшками. В начале XX века здесь была городская свалка, потом, в 1967 году власти ее закрыли и в течение многих лет проводили очистку территории. Теперь мусора здесь нет, но берег покрыт мелкими, обточенными волнами стеклянными камушками.Боттом бэй, БарбадосБоттом бэй — лучший пляж на острове Барбадос. Канонический пейзаж этого места является визитной карточкой страны.Хайамс, АвстралияПляж Hyams Beach, который находится в 300 километрах от Сиднея — пляж с самым белым песком в мире. Он такой белый, что, взглянув на него издалека, кажется, что это взбитые сливки.Пляж на острове Ваадху, Мальдивские островаЕсть в мире один пляж, который особенно красив ночью. Планктон выброшенный на пляж острова Ваадху окрашивает берега тысячами огней. Свечение объясняется биолюминесценцией — химическими процессами в организме животных, при которых освобождающаяся энергия выделяется в форме света. Голубые светящиеся волны словно отражают звезды в небе над Мальдивами!Грейс Бэй, Карибские островаВот он рай. Белый чистый и прохладный мелкий песочек манит прилечь и позагорать. Грэйс Бэй не раз признавался одним из самых лучших пляжей в мире.Океанский купол, ЯпонияНу а если все моря вам уже приелись и хочется чего-нибудь необычного, то обязательно посетите Ocean Dome. Пляжи из белого песка, океан с искусственной волной для серфинга, водные каскады, горки и аттракционы, бассейны с гидромассажем и спа, тропическая растительность, яркие экзотические шоу, устраиваемые каждый день, — здесь все создано для полноценного отдыха.