One who intends to leave others better off for his having existed.

12/12/13

Please let this not happen in the Piedmont Triad; "Puerto Rico Dips Into Cash to Repay Loan"

"Puerto Rico last week repaid a $400 million short-term loan ... by drawing on its pile of cash rather than by selling bonds, in the latest sign of the island's travails funding itself

...The financially strapped territory had planned to use proceeds from a new bond sale to pay off the loan this month, but the island hasn't tapped the market. The island's bonds have plunged in value this year as investors feared its large debt load and economic malaise could cause it to default.

...The territory on Monday announced a 5.3% decline in economic activity in October compared with the same month of 2012."

http://online.wsj.com/news/articles/SB10001424052702303560204579250503880005812?KEYWORDS=puerto+rico
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"Puerto Rico May Be Cut to Junk by Moody’s on Weak Economy

...A rating cut may lead funds to sell some of those holdings....

Puerto Rico’s general-obligation debt, already graded one step above junk, may be cut by Moody’s Investors Service if the commonwealth’s finances continue to deteriorate and it isn’t able to access credit markets soon.

The self-governing commonwealth has been aiming to sell as much as $1.2 billion of sales-tax bonds by Dec. 31 to help balance budgets. A spike in the island’s debt yields has blocked Puerto Rico from accessing the capital markets."

http://www.bloomberg.com/news/2013-12-12/puerto-rico-may-be-cut-to-junk-by-moody-s-as-economy-weakens.html
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"Wave of Looting Sweeps Argentina

Shopkeepers in Argentine cities on Tuesday hustled to protect their stores after a wave of deadly looting swept through several cities, as mobs took advantage of striking police forces to pillage shops and supermarkets.

Economists say Argentina's inflation tops 25%, even though the government says it is far lower.

...Over more than a decade in power, Mrs. Kirchner and her predecessor and late husband, Nestor Kirchner, used the country's income from high commodity prices on social spending, spurring growth and reducing poverty. But the policies have also led to persistent inflation, which has eroded savings and hurt the poor...

...Calm was restored after a late-night deal to double the starting police wage to 8,000 pesos ($1,300) a month and officers returned to patrolling the streets...

...the major wage gains secured by the police forces are being watched closely by unions, who say they will likely push for similar increases. Teachers and other unions negotiate their annual salary increases early next year, potentially creating more instability"

http://online.wsj.com/news/articles/SB10001424052702304014504579250362428299836?KEYWORDS=argentina+wave+of+looting

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