Two messages: Read my article, 1 nabbed for fishing; 6,000 drug perps free
As we know, Puerto Rico’s disastrous overspending has put default in the horizon, and more debt as bond yields rise.
Pres. Obama has come up for a default plan because,
The situation in Puerto Rico “risks turning into a humanitarian crisis as early as this winter,” one senior administration official said, speaking on condition of anonymity because the person was not authorized to speak publicly.
Relief for the yet-to-happen so-called “humanitarian crisis” of course involves more government handouts for a place where over 25% of the workforce works for the government – with no calls for reducing the bureaucracy.
In the past, Republicans in Washington took a dim view of granting bankruptcy for Puerto Rico. But the GOP may be ignoring an opportunity that the Puerto Rico crisis presents for dealing with a problem closer to home: the state and local pension crisis. With his proposal, President Obama was careful to wall off the municipal bankruptcy code from larger changes. He and his political allies, especially public-sector unions, fear that helping Puerto Rico might make it easier for municipalities or other entities within states—including deeply indebted pension systems—to file for bankruptcy protections. In places like Illinois, New Jersey, and California, where taxpayers’ efforts to reform public-sector debt run into one stumbling block after another, bankruptcy might be the only way of clearing away these steep fiscal obligations. The GOP should use Obama’s Puerto Rico gambit, clearly a political ploy, to start a discussion on municipal debt that the administration and its allies would rather not have.
No matter how you put it, it’s all about the spending.
A regulation directly affecting 8 million Americans that is yet another instance, as the WSJ put it, of “U.S. tax and regulatory policies that hamper the entire U.S. economy.”
Read my post, Fatca: Discrimination with no representation
The LatAm countries are Mexico, Peru and Chile (which in turn are members of the Pacific Alliance):
U.S. Reaches Trans-Pacific Partnership Trade Deal With 11 Pacific Nations. Trans-Pacific Partnership created after bitter fights over automobile industry, intellectual property rights and dairy products. China is not included since it did not meet criteria. The TPP is yet to be approved by Congress,
But Mr. Obama faces a steep challenge in the months ahead to win approval for the deal in a deeply divided Congress. Only a handful of Democrats support Mr. Obama’s trade policy, and Republican support is unpredictable in the 2016 election year, depending on the stance of presidential candidates and new leadership in the House. As it is, the deal can’t go to a vote before Congress until early next year.
Ian Bremer commented on the TPP on Facebook – now on YouTube,
While Secretary of State John Kerry and Ambassador to the United Nations Samantha Power busied themselves in a video conference with Pres. Obama, Israel’s Prime Minister Benjamin Netanyahu delivered a most powerful speech, which you can watch in full:
Read my post on Netanyahu’s thunderous silence and the West’s moral vacuum.
I’m not sure in exactly what form, or exactly when, but in our connected world, there are storm clouds gathering:
You don’t have to be a supporter of Putin’s domestic to recognize that he is successfully expanding Russia’s influence and strengthening his country’s global position, while Obama has thoroughly squandered American prestige, abandoned allies, embraced our enemies, and reduced American influence to third-rate status.
But Putin sees a necessity in humiliating the United States. That’s business. And yet, despite Putin’s obviousness, the White House team and its acolytes publicly scratch their heads and other body parts, saying, “We’re not certain what the Russians intend.”
4. In Obama’s world posturing is enough to produce an conclusive result. That may be, but Obama is actively working towards a conclusive result in other areas. I have stated several times that I fully expect Obama to cede Guantanamo to Cuba. You can be sure Putin and the Castros already are planning to gain from that eventuality. Or do you really believe Putin wasn’t listening when John Kerry declared “The era of the Monroe Doctrine is over”?
Lest you find me unduly alarmist, my gut tells me that, once a Russian three star general warns US officials ‘we request your people leave’, all bets are off.
And remember the signing amount of $100 billion Obama administration released to Iran for agreeing to the Nuclear Deal? Russia is getting a big chuck of that money. Tehran is ordering missile equipment as well as satellite and space technology worth $21 billion from Moscow.
Another storm cloud, which may or may not be catching Putin’s attention, is the Colombia/FARC agreement. Alvaro Uribe sums it up in one tweet:
“I helped elect Santos in 2010 and he brings terrorists to power, buried our policies that elected him, and offers me a guaranteed jail sentence.”
Ayudé a elegir a Santos en 2010 y lleva terroristas al poder enterró nuestras políticas que lo eligieron y me ofrece la cárcel de garantía
— Álvaro Uribe Vélez (@AlvaroUribeVel) September 30, 2015
Uribe may prove to be an optimist.
Colombia is Latin America’s third-largest economy. If the FARC is legitimized, all sorts of hell is going to break lose.
In a lighter mode, The Art of Manliness has How to Gird Up Your Loins: An Illustrated Guide