Thursday, October 8

Domestic Politics

Peaceful transfer of power in America
Corruption, Bribes, Illicit Finance & Money Laundering, Democracy, United States

Peaceful transfer of power in America

America's 18-month presidential election has come to a close, with Hillary Clinton conceding defeat to Donald Trump. It was an election that at times felt like a reality-TV show gone wrong, with one candidate fending off multiple investigations and the other communicating one outlandish comment after another. It was a low period for America. With 61 percent of Americans reporting an "unfavorable" opinion of Donald Trump and 52 percent reporting an "unfavorable" opinion of Hillary Clinton, Trump and Clinton set records for the worst and second-worst liked U.S. presidential candidates in Gallup-polling history. Issues took a backseat, but they were, nonetheless, there: Deficiencies with the Affordable Care Act, Obama's signature healthcare law, that were never fixed and that ca...
An American in Cuba: History & People
Communism, Dictatorship, authoritarian

An American in Cuba: History & People

It was the first full day of the trip. I awoke early, ate breakfast and met my tour guide Rose and travel companions in the hotel lobby. It would be a full day touring by foot and bus. We were eight adventurers--George and Barbara, a couple who ran a family furniture business in Florida, Mike and Ana, a couple living in the Pacific Northwest who were just months away from expecting their first baby, Joel, a man in his 30s or 40s from California, two women from Alaska, and me. Clouds over head kept the air cool as we walked around Havana. Back at the Plaza de Armas, the story of Cuba unfolded. Christopher Columbus had landed there in 1492, declaring the island to be "the most beautiful land human have ever seen." Twenty years later, the Spanish took it as their own, using mostly un...
Cuba: Hello Havana
Communism, Dictatorship, authoritarian

Cuba: Hello Havana

It takes less than an hour to reach Cuba from Tampa, Florida by airplane. Simple, really. And yet it is still hard to see that Cuba is just 90 miles from the United States. The island has been forbidden land for most law-abiding Americans for so long. For the most part, it is still not legal to travel there unless you book, like I did, an educational tour through one of the roughly 100 organizations certified by the State Department to run people-to-people cultural tours. The U.S. government allows travel to Cuba for up to 12 different reasons. Tourism isn't one of them. So while the Canadians head straight for the beaches and stay there, Americans visit senior-center projects, organic farms, child care centers, artistic sites and museums. For most, it's a pretty packed schedule. Get...
Fate of Greece in Limbo After Voters Choose ‘No’ to Debt Deal
Democracy, Europe, EU, Eurozone, and United Kingdom, Finance, Currency, Debt, National Budgets & Interest Rates, Types of News: Analysis

Fate of Greece in Limbo After Voters Choose ‘No’ to Debt Deal

A day after an unprecedented referendum in which Greek voters rejected an offer by creditors to continue their bailout of the country's finances in exchange for strict economic reforms, the fate of Greece and its proud people lie in deep uncertainty. With a vote of 61-to-29 percent, the Greeks resoundingly said "no" to their European partners' plans to continue financing Greek debt under the condition that Greece would pass more "austerity" measures such as cuts to pensions and spending programs and increases in the value-added tax. Now, though everyone seems to deny the possibility of a Greek expulsion from the 19-member common-currency Eurozone, the path to keeping Greece in the union isn't clear. Key European leaders are sending mixed signals. Eurogroup (group of finance min...
Greece Puts Debt Bills Up For Democratic Vote
Democracy, Europe, EU, Eurozone, and United Kingdom, Finance, Currency, Debt, National Budgets & Interest Rates, Foreign Aid, International Development, Global Economics, Types of News: Brief

Greece Puts Debt Bills Up For Democratic Vote

Greece is to hold a national referendum to decide whether the country will accept a deal offered by creditors over the country's debt obligations and tax, spending and pension policies. Caught between his government's promises to pay its debts and his own campaign promises to oppose fiscal reforms demanded by creditor institutions, Greek Prime Minister Alexis Tsipras announced today that he will let the people decide the fate of the country. "Our responsibility is for the future of our country. This responsibility obliges us to respond to the ultimatum through the sovereign will of the Greek people," Tsipras said. While it seems like a lot is riding on the national referendum, scheduled to take place Sunday, July 5, the vote might come too late. Greece owes a debt payment of €1.5...
North Korean Dealings with Hong Kong-Business Keep Regime Alive
Communism, Dictatorship, authoritarian, Corruption, Bribes, Illicit Finance & Money Laundering, Sanctions

North Korean Dealings with Hong Kong-Business Keep Regime Alive

Despite extensive sanctions against North Korea by the United Nations, European Union and United States in response to its nuclear testing, the world's most isolated country is not as isolated economically as one might suspect.According to a groundbreaking investigation by the Financial Times, North Korea relies on an obscure web of connections to finance foreign and domestic projects and bring in the foreign currency it needs to survive.The main group, Office 39 based in North Korea, conducts "illicit economic activities" to produce income for the leadership, according to the Financial Times. North Korea is also known to export weapons, drugs and indentured servants.It has dealings with a multi-million dollar private company based in Hong Kong, referred to as the Queensway Group. The pri...
U.S. Congress Gives President Authority to Negotiate Trade Deals
Global Trade, United States

U.S. Congress Gives President Authority to Negotiate Trade Deals

Not since 2007 has a U.S. president had authority to negotiate trade deals with other nations on behalf of the country. The authority, known as "fast-track" because it will allow the executive branch to hammer out the details of a trade deal and send the bill to Congress for an up-or-down vote, expired in 2007. Today President Obama achieved a major breakthrough in restoring that authority to the Executive branch. The Senate voted 60-38 on a bill to grant the president Trade Promotion Authority. The House voted 218-208 a week earlier. The bill faced major political and procedural hurdles in both branches of Congress. H.R. 2146 spells out trade priorities for the United States and establishes rules for Congress to consider trade agreements. Once President Obama signs the bill, he'll set ...