Puerto Rico governor declares emergency at Government Development Bank

Puerto Rico governor declares emergency at Government Development Bank - The Washington Post
"SAN JUAN, Puerto Rico — Gov. Alejandro García Padilla ­announced Saturday that he has declared a state of emergency at the Government Development Bank, a moved aimed at ensuring that Puerto Ricans continue to receive essential government services.
The governor said he issued an executive order Friday to halt the erosion of the bank’s dwindling liquidity by allowing withdrawals only to fund necessary costs for health, public safety and education services.
The order does not call for a moratorium on the bank’s principal or interest payments.
García said the government bank, known as GDB, is in talks with creditors regarding a payment of nearly $423 million, due in May.
The order is the first taken under the Puerto Rico Emergency Moratorium and Financial Rehabilitation Act enacted this past week, which gives the governor emergency powers to deal with the fiscal crisis, including the ability to declare a moratorium on all bond payments.
“The GDB’s financial condition has continued to deteriorate and, absent the measures ordered in this executive order, there is an imminent risk of a drastic decrease in GDB’s liquidity in the immediate term.
This, in turn, would jeopardize the provision of essential services by the commonwealth,” the order states..."

Capitalism vs. socialism in one chart: South Korea vs. Venezuela edition

Capitalism vs. socialism in one chart: South Korea vs. Venezuela edition - AEI | Economics Blog » AEIdeas:
"If you are trying to make a point about statism vs. democratic capitalism, comparing the fortunes of North and South Korea is an easy and effective way to make it.
A great natural experiment.
(Just compare night-time satellite photos of the Korean peninsula.)
One a modern, advanced economy.
The other a hellhole.
Same people, same geography, different political economy.
But the comparison is such an extreme — totalitarian North Korea is one of the most nightmarish nations ever to exist — that some might find it easy to dismiss.
A weird one-off.
So how about this comparison instead?
South Korea vs. Venezuela. 
Certainly the latter isn’t Switzerland. Freedom House calls Venezuela a “partly free” nation that oppress political opposition.
But FH labels North Korea as “unfree” and uses the phrase “crimes against humanity” in the opening paragraph of its report.
The Index of Economic Freedom ranks Venezuela #176 out of the  178 nations it tracks, ahead of Cuba and North Korea.
But Venezuela is a much richer nation, with a per capita GDP (on a purchasing power basis) of $18,000 vs. $2,000 for North Korea. 

Wow: Obama Just Went VERY Far, Even By His Standards - 'Then White Folks...'

Wow: Obama Just Went VERY Far, Even By His Standards - 'Then White Folks...':

"The president did not cite specific laws, but in the past has opposed state-level voter ID laws. Obama spoke to the Chicago law students just days after Wisconsin implemented its new voter ID law for the first time in its presidential primaries. Voter turnout Tuesday was the largest since 1972.

Obama’s comments Thursday differ from those made in 2014, when he told Al Sharpton the enemy of participation was not voter ID laws, but apathy.

“Most of these laws are not preventing the overwhelming majority of folks who don’t vote from voting,” Obama said than. “Most people do have an ID. Most people do have a driver’s license. Most people can get to the polls. It may not be as convenient’ it may be a little more difficult.”"

We Need a Sequel to The Big Short to Critique Public Pensions

We Need a Sequel to The Big Short to Critique Public Pensions - Reason.com
The Big Short is clearly a hit. Nominated for (and winning) a host of major awards, the film has reportedly clocked $131 million worldwide on a $28 million production budget.
That should give screenwriters the incentive to follow up with the true-to-life sequel.
Call it The Big Short, Part Two.
Part one offered rare insight into the usually arcane world of government finance.
When the film's protagonists (played by Brad Pitt, Christian Bale, Ryan Gosling and Steve Carell) prepare to bet that the housing bubble is about to blow, they identify the culprits:
The bad guys are not just the sellers who prepared mortgage debt securities but the buyers of those toxic securities as well.
And the biggest buyers of all were the managers of America's public-employee pension funds.
The housing bubble may have collapsed, but the public-employee pension fund managers are still with us.
If anything they're bigger than ever, still insatiably seeking high returns just over the horizon line of another economic bubble.
And where do these predators go for their high returns? 
Along with their high-risk investments in hedge funds and private equity (where we have minimal transparency), pension fund managers invest in housing, once again inflated to unaffordable levels, thanks to over-regulation and low interest rates.
They invest in public utilities that collect guaranteed fixed profits on overpriced services, thanks again to over-regulation.
They invest internationally.
And they invest in domestic stocks.
In every case, the goal of these powerful pension funds—Wall Street's biggest players—is to rack up another year of high returns.
And to do this they need corporate profits, financial sector profits, rising home prices, rising utility rates—all of it fueled by debt accumulation.
It's an unsustainable model.
As America is slowly turned into a debtors' prison, there will eventually be nobody left to pay the interest..."

AM Fruitcake

History for April 11

History for April 11 - On-This-Day.com:
Oleg Cassini 1913 - Fashion designer, Ethel Kennedy (Skakel) 1928 - Wife of U.S. Attorney General Robert Kennedy, Joel Grey 1932 - Singer (Katz), dancer, actor ("Cabaret"), actress Jennifer Grey's father 


Louise Lasser 1939 - Actress ("Mary Hartman, Mary Hartman", "Slither"), Peter Riegert 1947 - Actor ("The Mask"), Jim Lauderdale 1957 - Country singer, songwriter 


1783 - After receiving a copy of the provisional treaty on March 13, the U.S. Congress proclaimed a formal end to hostilities with Great Britain.


1901 - Construction on the Empire State Building was completed. The building was dedicated and opened on May 1, 1931.


1945 - During World War II, American soldiers liberated the Nazi concentration camp of Buchenwald in Germany.


1947 - Jackie Robinson became the first black player in major-league history. He played in an exhibition game for the Brooklyn Dodgers.


1961 - Israel began the trial of Adolf Eichman, accused of World War II war crimes.


1970 - Apollo 13 blasted off on a mission to the moon that was disrupted when an explosion crippled the spacecraft. The astronauts did return safely.


1980 - The Equal Employment Opportunity Commission issued regulations specifically prohibiting sexual harassment of workers by supervisors.


1984 - China invaded Vietnam.

Trey Gowdy Just Sent A Brutal Wake-Up Call To Every Single Democrat - There's No Escaping

Trey Gowdy Just Sent A Brutal Wake-Up Call To Every Single Democrat - There's No Escaping:

"Democrats have routinely downplayed the events which occurred that day, especially Hillary Clinton. Clinton famously yelled, “what difference, at this point, does it make?” during her appearance before the committee in 2015, despite being secretary of state at the time of the debacle.

Gowdy further detailed the purpose of the committee in a statement on his congressional blog."

How High Are Beer Taxes in Your State?

How High Are Beer Taxes in Your State? | Tax Foundation:
"Tax treatment of beer varies widely across the U.S., ranging from a low of $0.02 per gallon in Wyoming to a high of $1.29 per gallon in Tennessee.
Check out today’s map below to see where your state lies on the beer tax spectrum."

UK Equalities Chief Who Popularised The Term 'Islamophobia' Admits: 'I Thought Muslims Would Blend into Britain... I should Have Known Better'

UK Equalities Chief Who Popularised The Term 'Islamophobia' Admits: 'I Thought Muslims Would Blend into Britain... I Should Have Known Better':
The former head of Britain’s Equalities and Human Rights Commission (EHRC), Trevor Phillips, has admitted he “got almost everything wrong” on Muslim immigration in a damning new report on integration, segregation, and how the followers of Islam are creating “nations within nations” in the West.

Phillips, a former elected member of the Labour Party who served as the Chairman of the EHRC from 2003-2012 will present “What British Muslims Really Think” on Channel 4 on Wednesday. 
An ICM poll released to the Times ahead of the broadcast reveals: 

• One in five Muslims in Britain never enter a non-Muslim house;
• 39 per cent of Muslims, male and female, say a woman should always obey her husband;
• 31 per cent of British Muslims support the right of a man to have more than one wife;
• 52 per cent of Muslims did not believe that homosexuality should be legal;
• 23 per cent of Muslims support the introduction of Sharia law rather than the laws laid down by parliament.

Over One Year Later, State Department Finally Turns Over Records; Committee Still Waiting for Others | Select Committee on Benghazi

Over One Year Later, State Department Finally Turns Over Records; Committee Still Waiting for Others | Select Committee on Benghazi:

“It is deplorable that it took over a year for these records to be produced to our committee, and that our Democrat colleagues never lifted a finger to help us get them. Shame on them and everyone else who has demanded this committee to give up before gathering all of the facts. This investigation is about a terrorist attack that killed four Americans, and it could have been completed a lot sooner if the administration had not delayed and delayed and delayed at every turn. For example, the committee still does not have records we requested over a year ago, and we are still waiting for some witnesses to be made available for interviews "

Everything is racist..... pay up!------Dartmouth Sorority cancels Kentucky Derby party over 'racial connotations'

Dartmouth Sorority cancels Kentucky Derby party over 'racial connotations' - Washington Times: "Every year Dartmouth College’s Kappa Delta Epsilon (KDE) sorority hosts a Kentucky Derby-themed party in the spring, but this year, the sorority cancelled those plans after students claimed the soiree was racist.
The sorority traditionally held the invite-only party the same weekend as the famous Kentucky Derby horse race.
In 2015, a group of campus Black Lives Matter protestors rallied outside the party, calling the event racist and elitist, and accusing the sorority of “recreating an Antebellum South atmosphere on the Ivy league campus,” The College Fix reported.
Protesters held signs declaring “black rage” and repeated chants of “What is Derby? It’s the face of genocide,” and “What is Derby? It’s the face of police brutality.”
Now, according to campus newspaper The Dartmouth, the sorority has voted to rebrand the party, changing the theme from Kentucky Derby to Woodstock. 
Nikol Oydanich, KDE vice president, said that after speaking to last year’s protesters and other individuals in the Afro-American Society, the sorority decided to change its theme because of its “racial connotations.”
“[It is] related to pre-war southern culture,” she told The Dartmouth. “Derby was a party that had the power to upset a lot of our classmates.”
“We realized that if anyone on campus felt uncomfortable or upset with the theme, then we obviously shouldn’t have it,” said KDE social chair Jehanna Axelrod.
The first Kentucky Derby horse race was held in 1875, 10 years after the Civil War ended."

Number of State Employees Who Make $100,000+ Up 50 Percent Under Snyder

Number of State Employees Who Make $100,000+ Up 50 Percent Under Snyder [Michigan Capitol Confidential]:
"When Gov. Rick Snyder took office in 2011, 927 people on the state of Michigan's payroll made $100,000 or more. 
By 2015, the number of six-figure employees had increased by 55 percent to 1,437.
One of the largest increases was in the number making $126,000 or more, which is where state government's highest salary category begins.
In the 2010-11 fiscal year, there were 165 state employees who were paid that much. 
By 2015, the number had almost doubled to 310 (up 88 percent).
The average state employee salary last year was $57,171.
While the vast majority of state employees are included in the annual state report listing these figures, some in the six-figure group may not be included because they are paid by unconventional means.
In particular, the Michigan Economic Development Corporation, the agency in charge of state business subsidies, pays its people with a mix of state tax revenue and money from negotiated payments from Indian casinos that have been earmarked to the agency.
The MEDC has 19 employees who are paid $100,000 or more, led by its director, Steven Arwood, who gets $267,000. 
That number is down from 52, in 2014."

Lunch video-----Rodney Dangerfield Funniest Jokes Ever On The Johnny Carson Show 1983 on...

Noon-toon

Hillary Clinton Declares ‘Not Even Remotest Chance’ She’ll Be Charged in Email Scandal | Video | TheBlaze.com

Hillary Clinton Declares ‘Not Even Remotest Chance’ She’ll Be Charged in Email Scandal | Video | TheBlaze.com:

"Though Clinton has repeatedly tried to dismiss the matter as a security review, FBI officials told Fox News the matter is a criminal investigation because the FBI doesn’t do routine security reviews.

“I will tell you sitting here in the Bronx, we are moving forward,” Clinton said. “The Republicans’ fondest wishes will not be fulfilled.”"

VA Bosses In 7 States Ordered Wait Time Records Falsified

VA Bosses In 7 States Ordered Wait Time Records Falsified – DennisMichaelLynch.com:
"More than 100 facilities investigated, and 29 people disciplined for improper scheduling and falsifying records.
USA TODAY — Supervisors instructed schedulers to falsify patient wait times at Veterans Affairs’ medical facilities in at least seven states, according to newly released investigation reports from the department’s inspector general.
VA whistle-blowers say schedulers still are manipulating wait times. Shea Wilkes, co-director of a group of more than 40 whistle-blowers from VA medical facilities in more than a dozen states, said the group continues to hear about it from employees across the country who are scared to come forward.
The manipulation gave the false impression that the facilities in Arkansas, California, Delaware, Illinois, New York, Texas and Vermont were meeting VA performance measures for shorter wait times.
The reports detail for the first time since the Phoenix VA wait-time scandal in 2014 how widespread scheduling manipulation was throughout the VA.
Investigators previously have said manipulation was “systemic” but they did not identify which facilities had problems and how serious they were.
The investigations found that employees at 40 VA medical facilities in 19 states and Puerto Rico regularly “zeroed out” veteran wait times, which masked growing demand as new waves of veterans returned from wars in Iraq and Afghanistan and as Vietnam veterans aged and needed more health care. 
In some cases, the system encouraged manipulation even without explicit instruction from supervisors."

Low tax-supported debt gets Nebraska a No. 1 ranking

Low tax-supported debt gets Nebraska a No. 1 ranking - Omaha.com: Money:
"Most people probably don't imagine the vicinity of South Sioux City, Neb., as the national leader in responsible government finance, but it is, according to financial publication Barron's.
This week, Barron's named Nebraska the best state in the country when it comes to managing government budgets. 
Iowa was second and South Dakota third — making the tri-state corner near South Sioux City the nation's garden spot when it comes to savvy government finance.
“Nebraska has virtually no tax-supported debt and the country's lowest unfunded pension obligation,” Barron's wrote.
“It is notable for having a 'cash-balance plan,' a cross between a traditional pension and a 401(k) plan that has been adopted by companies including IBM.
This cuts financial obligations relative to regular pensions.
Other states are looking at the idea.”
A lot of it comes down to the fact that you can't lose at a game you refuse to play:
Low state debt is the law in Nebraska. 
The Nebraska constitution prohibits the state from having more than $100,000 of bond debt.
“I am thrilled we are ranked No. 1,” Gov. Dave Heineman said in an interview.
“We don't spend money we don't have.”...

Destroying travel-----TSA: Beefed up airport security could roil summer travel lines

TSA: Beefed up airport security could roil summer travel lines - POLITICO
"...TSA Administrator Peter Neffenger told reporters Friday that the agency has significantly stepped up its visible presence after the Brussels blasts, just one effort to deter would-be copy cats from targeting U.S. airports and train stations.
...It will also mean more random bag checks, particularly for bigger luggage, and additional inspections of cars and taxis coming into the airport.
Combine the random checks with what’s expected to be longer security lines, and passengers could be staring down a frustrating summer travel experience.
“This is one of the busiest or highest volume travel years we’ve ever seen,” Neffenger said, adding that travel has increased about 8 percent on average over last year.
“I care about lines, it’s not that I don’t … [but] we have to do our jobs. 
...Bill Nelson (D-Fla.) took Neffenger to task, criticizing TSA for not doing enough to screen airport workers.
Nelson said the Atlanta airport worker gun smuggling ring uncovered in December 2014 and more recently, bombs snuck onto commercial planes overseas, make it imperative that TSA push airports to tighten up access and screening for their employees.
“Atlanta, Miami and Orlando,” have thorough worker vetting in place, Nelson said.
“What about the rest of the 297 airports nationwide?”...

Report: Extradition of Romanian Hacker During Clinton Email Probe No ‘Coincidence’ | TheBlaze.com

Report: Extradition of Romanian Hacker During Clinton Email Probe No ‘Coincidence’ | TheBlaze.com:

"The extradition of Romanian hacker “Guccifer” to the U.S. during the course of the FBI’s criminal investigation into former secretary of state and Democratic presidential candidate Hillary Clinton’s email use is “not a coincidence,” an “intelligence source close to the case” told Fox News.

“Guccifer,” whose real name is Marcel Lehel Lazar, allegedly accessed the email account of Sidney Blumenthal, a Clinton confidant. This hack is how Clinton’s use of a personal account during her time as secretary of state first came to light."

AM Fruitcake

History for April 10 - On-This-Day.com

History for April 10 - On-This-Day.com:
Commodore Matthew Perry 1794, Lew Wallace 1827 - U.S. novelist ("Ben Hur"), William Booth 1829 - Founder of Salvation Army, author ("In Darkets England") 


Joseph Pulitzer 1847 - Publisher, his will left $2 million for a fund which established annual prizes for literature, drama, music and journalism, Harry Morgan 1915 - Actor ("M*A*S*H"), Steven Seagal 1951 - Actor ("Out for Justice") 


1849 - Walter Hunt patented the safety pin. He sold the rights for $100.


1912 - The Titanic set sail from Southampton, England.


1932 - Paul von Hindenburg was elected president of Germany with 19 million votes. Adolf Hitler came in second with 13 million votes.

1938 - Germany annexed Austria after Austrians had voted in a referundum to merge with Germany.


1941 - In World War II, U.S. troops occupied Greenland to prevent Nazi infiltration.


1963 - 129 people died when the nuclear-powered submarine USS Thresher failed to surface off Cape Cod, MA.


1992 - Outside Needles, CA, comedian Sam Kinison was killed when a pickup truck slammed into his car on a desert road between Los Angeles and Las Vegas.


1996 - U.S. President Clinton vetoed a bill that would have outlawed a technique used to end pregnancies in their late stages.

Chrysler Announces 1,300 Layoffs in Michigan - Breitbart

Chrysler Announces 1,300 Layoffs in Michigan - Breitbart:

"The announcement comes on the heels of decisions from both GM and Ford to close plants in Michigan and move manufacturing and jobs to Mexico.

Earlier this week Ford Motor Co. announced it was planning to spend $1.6 billion on new facilities in Mexico.

Ford’s announcement came only a few months after GM announced similar plans, in its case a plan to spend a whopping $5 billion on building new facilities in Mexico."

No, Gays and ‘Transgenders’ Are Not Being Bullied. They Are The Bullies

No, Gays and ‘Transgenders’ Are Not Being Bullied. They Are The Bullies. | TheBlaze.com
This week, Gov. Phil Bryant of Mississippi signed a religious liberty bill protecting businesses and individuals from being forced to participate in gay marriages.
The legislation also fortifies the rights of business owners to keep their bathrooms segregated by sex, as all business owners have done up until 4.5 seconds ago.
Meanwhile, a few weeks earlier, North Carolina signed a now infamous bill that will require men to pee in rooms with other men, and women in rooms with other women. 
Again in keeping with the reasonable and totally normal policies that have been in place everywhere in America for the entirety of your life and your grandparents’ lives.
...But the left is not accustomed to being disobeyed in such a manner, which explains the utterly shocked and stunned reaction from leftists across the country to these two pieces of legislation.
While the vicious attacks against Mississippi over their bill are just beginning, the outrage over the “anti-trans” law in North Carolina has reached apocalyptic volumes.

...Anyway, the next step in this North Carolina “controversy” was inevitable.
Dozens of massive corporations began putting pressure on North Carolina to scrap the law.
Mayors of major American cities banned travel to the state, prohibiting people from going to a place in order to protest North Carolina’s attempt to prohibit people from going to a place.
...It is the seemingly total lack of kindness, magnanimity, and rationality displayed by many in their camp that necessitates this sort of legislation.
If gays would simply respect the beliefs of Christian business owners, and if “transgenders” would simply respect the privacy of women and children, there would be no need for laws forcing the matter. 
But here we are.
And it’s not the fault of Christians and conservatives that we arrived here.
On the contrary, it’s the fault of the very people now whining about being persecuted.
Here’s the reality: gays and “transgenders” are not being victimized, nor are they are being martyred, oppressed, bullied or otherwise put upon. 
You can walk through Mississippi and find nary a business with a “We Won’t Serve Gays” sign hanging in the window.
You can travel down to North Carolina and not find a single instance where a government agent showed up at a so-called transgender’s house and instructed him to take off his wig and blouse.
For the most part, these people are free to do what they want and be who they are — or, in the case of “transgenders,” who they aren’t.
The only caveat is that the half dozen “transgenders” in North Carolina have to do what every other human in North Carolina has to do, and what most humans in the civilized world have to do, and share public restrooms with people who share their anatomy.
In Mississippi, gays can get married, as per the royal decree of the Supreme Court, but if they happen to stumble upon a baker or photographer who’d rather not participate in the event, they simply must find someone else.
That’s it.
In other words, they are just being asked, and now being forced, to display the faintest modicum of tolerance and respect for their fellow citizens..."