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It has taken three long years, filled with court filings, corruption charges and deadly hurricanes, but there appears to be progress in Puerto Rico as the island looks to come out from under its massive debt. In late September, Puerto Rico officially filed its roadmap out of bankruptcy with a federal court. If approved, the long-awaited new plan of adjustment would reduce a major portion of the island’s debt by more than 60 percent and cut Puerto Rico’s tax-supported debt from $50 billion to $25 billion. It’s a huge step forward, even if critical aspects of the plan are not yet finalized.One of the more contentious issues is that of bondholder prioritization. This latest plan seems to buy into the idea that “general obligation” (GO) bondholders should be favored over others.  These bondholders claim that they deserve priority, which requires GO bonds to be paid ahead of all other obligations, no matter the scenario. They claim that they enjoy a … [Read more...] about Getting debt prioritization right is vital to Puerto Rico’s recovery

It is said that those whom the gods wish to destroy they first make mad.Judging by President TrumpDonald John TrumpStates slashed 4,400 environmental agency jobs in past decade: study Biden hammers Trump over video of world leaders mocking him Iran building hidden arsenal of short-range ballistic missiles in Iraq: report MORE’s recent decision to breathe new life into the world trade war despite the presidential election now being less than one year away, it would seem that the gods are conspiring to destroy him. This would especially appear to be the case considering that if there is one thing that can precipitate a U.S. economic recession next year, it is an escalation in the world trade war.In its recent World Economic Outlook Report, the IMF took stock of the damage to the global economy wrought by the trade war. It noted that primary as a result of that war, the world economy has moved from a situation in 2018 in which 75 percent of the world’s economies were … [Read more...] about The economic madness of Mr. Tariff Man

President TrumpDonald John TrumpStates slashed 4,400 environmental agency jobs in past decade: study Biden hammers Trump over video of world leaders mocking him Iran building hidden arsenal of short-range ballistic missiles in Iraq: report MORE said Thursday that if House Democrats are going to impeachment him they should do it "now" and "fast" so he can have a "fair" trial in the Republican-controlled Senate. ADVERTISEMENTIn a series of tweets, Trump also said he wanted House Speaker Nancy PelosiNancy PelosiTrump's legal team huddles with Senate Republicans On The Money: Falling impeachment support raises pressure for Dems on trade | Trump escalates fight over tech tax | Biden eyes minimum tax for corporations | Fed's top regulator under pressure over Dodd-Frank rules Overnight Health Care — Presented by Johnson & Johnson — Virginia moves to suspend Medicaid work rules | Powerful House panel sets 'Medicare for All' hearing | Hospitals sue over Trump price rule | … [Read more...] about Trump demands ‘fast’ impeachment in House

White House counselor Kellyanne ConwayKellyanne Elizabeth ConwayGeorge Conway calls out Melania Trump after she criticizes impeachment witness: 'You're amplifying what was a nothingburger reference' Trump: Democrats' impeachment 'performance' is 'unpatriotic' George Conway quote-tweets Kellyanne Conway on Trump, Biden, Ukraine MORE on Thursday called Canadian Prime Minister Justin TrudeauJustin Pierre James TrudeauBiden hammers Trump over video of world leaders mocking him Trump returns to impeachment fight after NATO clash Overnight Defense: Trump cancels presser, cuts short NATO trip | Viral video catches leaders appearing to gossip about Trump | Dem witnesses say Trump committed impeachable offenses | Trump reportedly mulling more troops in Middle East MORE's behavior in a viral video in which he was seen gossiping about President TrumpDonald John TrumpStates slashed 4,400 environmental agency jobs in past decade: study Biden hammers Trump over video of world leaders mocking … [Read more...] about Conway: Video of Trudeau gossiping about Trump was ‘childish’

President TrumpDonald John TrumpStates slashed 4,400 environmental agency jobs in past decade: study Biden hammers Trump over video of world leaders mocking him Iran building hidden arsenal of short-range ballistic missiles in Iraq: report MORE on Tuesday slammed Democrats’ ongoing impeachment inquiry as “unpatriotic” and “a bad thing for our country” during a trip to London for a meeting with NATO leaders.“I think it’s very unpatriotic of the Democrats to put on a performance,” Trump said during a meeting with NATO Secretary General Jens Stoltenberg on the sidelines of the summit, The Associated Press reports.“I think it’s a bad thing for our country,” he added.ADVERTISEMENTTrump insisted he is centered on improving domestic and foreign policy and not impeachment, despite his frequent tweets bashing Democrats over their probe, the AP noted.Trump’s comments come ahead of the House Judiciary Committee’s … [Read more...] about Trump: Democrats’ impeachment ‘performance’ is ‘unpatriotic’