News for today's 2018

My dreams are in sight with Belviq

8:16 AM Tukiyooo 0

Happy Thursday everyone!<br /><br />So, I had a guy that is following my progress ask me, "do you have any goals (other than the weight loss) that you are trying to reach, like do certain activities or wear a certain clothing item?"  He was suggesting that it would be totally awesome to see what it is that I would like to achieve eventually so that when that time comes and I do make those goals, everyone can celebrate with me by seeing photos etc.<br /><br />I have a lot of goals.  There are certains things I would love to do.  But, I am a girl and I LOVE clothes!  At the end of the day, there are two dresses I totally want to wear.  <br /><br /><br /><div align="center"><strong>DRESS #1</strong></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgY-FP7_2JKDlxt2GVHBHfimC51d4g5q3FctYiC_04Sef62qpNvctszmTPQ-tgwyWB3XuxHOadV6FxtyMTRNjfwxKk9pYtAZJ4chlbbHe-Qp8J_TmIpYBVREjv28ucex4QBcCZDX1KELG4/s1600/1056924_3200212979866_1916797183_n.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgY-FP7_2JKDlxt2GVHBHfimC51d4g5q3FctYiC_04Sef62qpNvctszmTPQ-tgwyWB3XuxHOadV6FxtyMTRNjfwxKk9pYtAZJ4chlbbHe-Qp8J_TmIpYBVREjv28ucex4QBcCZDX1KELG4/s320/1056924_3200212979866_1916797183_n.jpg" width="180" /></a></div> This dress is a Michael Kor's dress that one of my long time friends, Terah Aultman has hanging in her closet waiting for me.  She told me, when I can fit in this dress, I can have it.  Of course, I LOVE Michael Kors AND I love BLING - this is a sequensed (sp?) dress and I can't wait to wear it!<br /><br /><div align="center"> </div><div align="center"><strong>DRESS #2</strong></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu2xVtUptoLNMEhqj-dkDmcThOT4QbcAgpzGPocKGJe0jpnLDE1HmzSuIKUtJ83GXQJU0ubQT7FDxvOwzwRXKohd-trW1jNzneFFVJGp_aWXjuKrbhC7qO8sS9GDdao08X5TJ1WF3aGW4/s1600/IMG_0174%5B1%5D.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhu2xVtUptoLNMEhqj-dkDmcThOT4QbcAgpzGPocKGJe0jpnLDE1HmzSuIKUtJ83GXQJU0ubQT7FDxvOwzwRXKohd-trW1jNzneFFVJGp_aWXjuKrbhC7qO8sS9GDdao08X5TJ1WF3aGW4/s320/IMG_0174%5B1%5D.JPG" width="240" /></a></div>This cute little dress I got on clearance for $3!!  The reason was because it was not marked with the appropriate size and they were bringing in fall clothes.  I can't wait to wear this dress withi some cute cowboy boots!  My goal si to be in this little number by spring!!  <br /><br />Today, I wore my "skinny" jeans and I got so many compliments.  It feels great to know that my hard work is FINALLY starting to show.  <br /><br />Belviq is truly my miracle RX.  It helped me fix the problem that was causing me so much trouble with eating and I am pumped up every day!<br /><br />Have a wonderful Thursday!<br />Ellie<br /><br /><br /><br /><br />

My dreams are in sight with Belviq

Happy Thursday everyone! So, I had a guy that is following my progress ask me, "do you have any goals (other than the weight loss) that...

The Best Way To Choose A Personal Trainer Orinda

7:08 AM Tukiyooo 0

<div style='font-style:italic;' class='uawbyline'>By Michael Petry</div><br /><br />  <div class='uawarticle'>When it comes to becoming physically fit, there are 2 primary ways for you to do it. One is to take on the whole job yourself, which means researching as well as documenting everything regarding your progress and making sure that you stay safe within your natural boundaries. The other option is to employ a professional personal trainer who does the majority of the work for you, leaving you to deal with only the job of actually exercising.<br />  <br />  Why Have A Personal Trainer?<br />  <br />  Even though some people think it's too expensive, quite a few workout enthusiasts have chosen to have a personal trainer Orinda. Not only are they very helpful in guiding you to your fitness goals, but they also help relieve the burden you would have carried if you had chosen to workout alone.<br />  <br />  Factors To Look Out For<br />  <br />  As Orinda offers a lot of professional fitness experts, it will help you to have at least a basic guide as to what you need to be looking for. Here are a few characteristics that are needed in a good personal trainer Orinda:<br />  <br />  *	A trainer whose personality clicks well with you, which may take a while to properly check out.<br />  <br />  *	A trainer whose personality clicks well with you, which may take a while to properly check out.<br />  <br />  *	A trainer who puts your safety above everything, including watching you every time you go through your routine, and not spending your paid-for time socializing with others.<br />  <br />  *	A trainer who puts your safety above everything, including watching you every time you go through your routine, and not spending your paid-for time socializing with others.<br />  <br />  Qualities To Avoid<br />  <br />  While there are characteristics for you to look for when seeking your own personal trainer, there are still things that you should be aware of. Some of the seemingly normal characteristics in a fitness coach that you have to avoid include:<br />  <br />  *	If he or she pays more attention to others and uses your allotted time to socialize with other people, as this shows his or her disinterest in helping you work out.<br />  <br />  *	If he or she looks at his or her cell phone instead of watching you work out safely more often than not, in turn showing his or her disregard for your safety.<br />  <br />  *	If he or she pushes you beyond your physical capabilities, and/or gives you medical advice without being properly trained for it, as only a qualified medic may diagnose you properly.<br />  <br />  *	If he or she insists that you start working out straight after meeting, without discussing properly about your goals and current physical health. Such an act is clearly that of a money-grabbing person, and not someone who is willing to discuss your plans and possible paths open to you.<br />  <br />  Why Orinda, California?<br />  <br />  Having a personal trainer Orinda is one of the best things for a physical fitness enthusiast to have. Orinda is a city that is well-known for its friendly and hospitable people, and you will have little problem in finding the ideal trainer for you.<br />  <br />  </div><br />  <div class='uawresource'><br />  	<div style='font-style:italic;' class='uawabout'><br />  		About the Author:<br />  	</div><br />  	<div class='uawlinks'>Being in excellent shape with the aid of <a href="http://www.theperfectworkout.com/personal-trainer-orinda/">Personal Trainer Orinda</a> not only improves your own entire body but also your health as well. The huge benefits that you can receive from <a href="http://www.theperfectworkout.com/personal-trainer-mountain-view/">Personal Trainer Mountain View</a> are limitless.</div><br />  </div><br />

The Best Way To Choose A Personal Trainer Orinda

By Michael Petry When it comes to becoming physically fit, there are 2 primary ways for you to do it. One is to take on the whole job yo...

ARGENTINA: THE GEOPOLITICS OF INTERNATIONAL MONETARY AND FINANCIAL SYSTEMS

5:59 AM Tukiyooo 0

<br /> <br /><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8b_jmNUK1PUh_6if9JUGsidcGR_YlMHxuHnE5jpUJJo85WfJkF9KBIQH5D-faGNKduuYUu2xEj7vkpXI2JexRLBEGO8hptwG9kzZ-plkKlw34FYhEmDNUCCWXTqy3L9Gv_J_kJJXHdW20/s1600/ab923df70571056fd3d9988529762275.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="320" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi8b_jmNUK1PUh_6if9JUGsidcGR_YlMHxuHnE5jpUJJo85WfJkF9KBIQH5D-faGNKduuYUu2xEj7vkpXI2JexRLBEGO8hptwG9kzZ-plkKlw34FYhEmDNUCCWXTqy3L9Gv_J_kJJXHdW20/s320/ab923df70571056fd3d9988529762275.jpg" width="254" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "Times New Roman","serif";">IIlustration </span>by Jon Krause</td></tr></tbody></table><div class="MsoNormal" style="line-height: normal; text-align: center;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><br /></span></b></div><div class="MsoNormal" style="line-height: normal; text-align: center;"><span style="color: #134f5c;"><span style="font-size: x-large;"><b><span style="font-family: "Times New Roman","serif";">THE VULTURES VICTORY: </span></b></span></span></div><span style="color: #134f5c;"><span style="font-size: x-large;"> </span></span><br /><div class="MsoNormal" style="line-height: normal; text-align: center;"><span style="color: #134f5c;"><span style="font-size: x-large;"><b><span style="font-family: "Times New Roman","serif";">VULTURE FUNDS HAVE RAISED GREED TO A NEW LEVEL</span></b></span></span></div><div class="MsoNormal" style="line-height: normal; text-align: center;"><br /></div><span style="color: #444444;"><span style="font-size: x-small;"><span style="font-family: "Times New Roman","serif";">By </span>Joseph E. Stiglitz, a Nobel laureate in economics and University  Professor at Columbia University, was Chairman of President Bill  Clinton’s Council of Economic Advisers and served as Senior Vice  President and Chief Economist of the World Bank. His most recent book is  <i>The Price of Inequality: How Today’s Divided Society Endangers our Future</i>.</span></span><br /><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">A recent decision by a UNITED STATES appeals court threatens to upend global sovereign-debt markets. It may even lead to the US no longer being viewed as a good place to issue sovereign debt. At the very least, it renders non-viable all debt restructurings under the standard debt contracts. In the process, a basic principle of modern capitalism – that when debtors cannot pay back creditors, a fresh start is needed – has been overturned.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">The trouble began a dozen years ago, when ARGENTINA had no choice but to devalue its currency and default on its debt. Under the existing regime, the country had been on a rapid downward spiral of the kind that has now become familiar in GREECE and elsewhere in EUROPE. Unemployment was soaring, and austerity, rather than restoring fiscal balance, simply exacerbated the economic downturn.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="color: #cc0000;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">DEVALUATION AND DEBT RESTRUCTURING WORKED</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">. </span></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">In subsequent years, until the global financial crisis erupted in 2008, ARGENTINA’S annual GDP growth was 8% or higher, one of the fastest rates in the world.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Even former creditors benefited from this rebound. In a highly innovative move, ARGENTINA exchanged old debt for new debt – at about 30 cents on the dollar or a little more – plus a GDP-indexed bond. The more ARGENTINA grew, the more it paid to its former creditors.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">ARGENTINA’S interests and those of its creditors were thus aligned: both wanted growth. It was the equivalent of a “Chapter 11” restructuring of AMERICAN corporate debt, in which debt is swapped for equity, with bondholders becoming new shareholders.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Debt restructurings often entail conflicts among different claimants. That is why, for domestic debt disputes, countries have bankruptcy laws and courts. But there is no such mechanism to adjudicate international debt disputes.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Once upon a time, such contracts were enforced by armed intervention, as MEXICO, VENEZUELA, EGYPT, and a host of other countries learned at great cost in the nineteenth and early twentieth centuries. After the ARGENTINE crisis, President George W. Bush’s administration vetoed proposals to create a mechanism for sovereign-debt restructuring. As a result, there is not even the pretense of attempting fair and efficient restructurings.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Poor countries are typically at a huge disadvantage in bargaining with big multinational lenders, which are usually backed by powerful home-country governments. Often, debtor countries are squeezed so hard for payment that they are bankrupt again after a few years.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="color: #cc0000;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">FINANCIAL FIRMS PUT THEIR OWN INTERESTS AHEAD OF THOSE OF THE COUNTRY – AND THE WORLD. </span></b></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYJni2_2WF2iSDIO4gdpX10Gk5YJ0Qd38MlfQyPWcwz1yxDyTDsSd1QrE0W4uudTda1BRTD6YxhYTik5-btQJ1UoofUepgWh0Z9SLIabRlZKpwmX256aLlf4PruyyxOyXQZVyenCy_QSHJ/s1600/maxresdefault.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="231" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYJni2_2WF2iSDIO4gdpX10Gk5YJ0Qd38MlfQyPWcwz1yxDyTDsSd1QrE0W4uudTda1BRTD6YxhYTik5-btQJ1UoofUepgWh0Z9SLIabRlZKpwmX256aLlf4PruyyxOyXQZVyenCy_QSHJ/s400/maxresdefault.jpg" width="400" /></a></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt; mso-fareast-font-family: "Times New Roman";">Economists applauded ARGENTINA’S attempt to avoid this outcome through a deep restructuring accompanied by the GDP-linked bonds. <b style="mso-bidi-font-weight: normal;">But a few “vulture” funds – most notoriously the hedge fund Elliott Management</b>, headed by the <b style="mso-bidi-font-weight: normal;">billionaire Paul E. Singer</b> – saw ARGENTINA’S travails as an opportunity to make huge profits at the expense of the ARGENTINE people. They bought the old bonds at a fraction of their face value, and then used litigation to try to force ARGENTINA to pay 100 cents on the dollar.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-size: small;"><span style="font-family: "Times New Roman","serif";">AMERICANS have seen how financial firms put their own interests ahead of those of the country – and the world. The vulture funds have raised greed to a new level.</span></span></div><span style="font-size: small;"> </span><br /><div class="MsoNormal" style="line-height: normal; text-align: justify;"><span style="font-size: small;"><span style="font-family: "Times New Roman","serif";">Their litigation strategy took advantage of a standard contractual clause (called <i>pari passu</i>) intended to ensure that all claimants are treated equally. Incredibly, the US Court of Appeals for the Second Circuit in New York <a href="http://www.gpo.gov/fdsys/pkg/USCOURTS-ca2-12-00105" target="_blank">decided</a>that this meant that if ARGENTINA paid in full what it owed those who had accepted debt restructuring, it had to pay in full what it owed to the vultures.</span></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="color: #cc0000;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">LENDERS ARE SUPPOSED TO BE EXPERTS ON RISK MANAGEMENT AND ASSESSMENT</span></b></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">If this principle prevails, no one would ever accept debt restructuring. There would never be a fresh start – with all of the unpleasant consequences that this implies.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">In debt crises, blame tends to fall on the debtors. They borrowed too much. The creditors are equally to blame – they lent too much and imprudently. Indeed, lenders are supposed to be experts on risk management and assessment, and in that sense, the onus should be on them. The risk of default or debt restructuring induces creditors to be more careful in their lending decisions.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="color: #cc0000;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">THE REPERCUSSIONS OF THIS MISCARRIAGE OF JUSTICE MAY BE FELT FOR A LONG TIME</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">. </span></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtnYA3rhAFT9jzbe0EBv4OZpNtker0ld-T7UkDrD_CWOBqJz3mfRCE1K_qdbN8cjeA9gsOPZAByPcwNW5TVEcFQZ1wdY-_UTY_H-divNlhzWyLEFDDCuNsa5G-Y0zr2p_P_UFgtVPZg9U6/s1600/griesa.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="179" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgtnYA3rhAFT9jzbe0EBv4OZpNtker0ld-T7UkDrD_CWOBqJz3mfRCE1K_qdbN8cjeA9gsOPZAByPcwNW5TVEcFQZ1wdY-_UTY_H-divNlhzWyLEFDDCuNsa5G-Y0zr2p_P_UFgtVPZg9U6/s320/griesa.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"> <br /><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;">US Judge Thomas Griesa: Impartial or lackey of Financial Institutions?</div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-size: xx-small;"><span style="font-family: "Calibri","sans-serif"; line-height: 115%;"><br /></span></span><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"></span></div></td></tr></tbody></table><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">After all, what developing country with its citizens’ long-term interests in mind will be prepared to issue bonds through the US financial system, when AMERICA’S courts – as so many other parts of its political system – seem to allow financial interests to trump the public interest?</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Countries would be well advised not to include <i>pari passu</i> clauses in future debt contracts, at least without specifying more fully what is intended. Such contracts should also include collective-action clauses, which make it impossible for vulture funds to hold up debt restructuring. When a sufficient proportion of creditors agree to a restructuring plan (in the case of ARGENTINA, the holders of more than 90% of the country’s debt did), the others can be forced to go along.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">The fact that the International Monetary Fund, the US Department of Justice, and anti-poverty NGOs all joined in opposing the vulture funds is revealing. But so, too, is the court’s decision, which evidently assigned little weight to their arguments.</span></b></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">For those in developing and emerging-market countries who harbor grievances against the advanced countries, there is now one more reason for discontent with a brand of globalization that has been managed to serve rich countries’ interests (especially their financial sectors’ interests).</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">In the aftermath of the global financial crisis, the United Nations Commission of Experts on Reforms of the International Monetary and Financial System urged that we design an efficient and fair system for the restructuring of sovereign debt. The US court’s tendentious, economically dangerous ruling shows why we need such a system now.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhVXnE7Nhhby5Oa-PEaD-v-9cGzbc6EKZXWwkmclVOu2YR5n2LEcmTPHYuLeOVfi1E80_21jjVlym_7BTWSnDBj6yloOZyBBbwVh2BKc16kPRLQRENCYvxLWvrtLkGfIDKgWy_oODOeUvPO/s1600/e708039e01de95e712f809849cd2cc0b_XL.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="257" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhVXnE7Nhhby5Oa-PEaD-v-9cGzbc6EKZXWwkmclVOu2YR5n2LEcmTPHYuLeOVfi1E80_21jjVlym_7BTWSnDBj6yloOZyBBbwVh2BKc16kPRLQRENCYvxLWvrtLkGfIDKgWy_oODOeUvPO/s400/e708039e01de95e712f809849cd2cc0b_XL.jpg" width="400" /></a></div><div class="MsoNormal" style="line-height: normal; text-align: center;"><br /></div><div class="MsoNormal" style="line-height: normal; text-align: center;"><span style="color: #134f5c;"><span style="font-size: x-large;"><b><span style="font-family: "Times New Roman","serif";">ARGENTINA ANTICIPATED ADDRESSING ‘VULTURE FUNDS’ ISSUE AT G20 SUMMIT</span></b></span></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="color: #cc0000;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 14.0pt; mso-fareast-font-family: "Times New Roman";">The Argentine leader said Greece is going for its third debt restructuring with ‘shaves’ and yet has been unable to pay, “and to us who have agreed with 93% of bondholders and have been paying regularly since 2005, they want to beat us down”.</span></b></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">After arriving in RUSSIA for the two-day G20 summit, ARGENTINE President Cristina Fernández stressed she will be addressing the “vulture funds issue” during the summit despite the US rejected to mention it in the final statement.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">The ARGENTINE president said ‘vulture funds take advantage of everyone” </span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">“Vulture funds take advantage of everyone, not only ARGENTINA” she told reporters adding ARGENTINA will discuss “employment creation, production and investment “which are” the elements which will save the global economy amid a context of crisis”.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">“I was reading that in GREECE the government has allowed the sale of food with expired dates and over a million government staff despite not having been paid for the last year, still go every day to work fearing the loss of jobs”, added the ARGENTINE president.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="color: #cc0000;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">ARGENTINA WILL HOLD BILATERAL TALKS WITH RUSSIAN AND CHINA</span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">.</span></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">“These are the things we should talk about and deal with the ‘vulture funds’ which take advantage of countries close to defaulting or indebted as us” insisted Cristina Fernandez. “This has happened to the GREEKS and the SPANIARDS and the PORTUGUESE and in SPAIN vulture funds also purchased junk sovereign bonds at rock bottom prices and will be asking for full face payment”.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">The Argentine leader said GREECE is going for its third debt restructuring with ‘shaves’ and yet has been unable to pay, “and to us who have agreed with 93% of bondholders and have been paying regularly since 2005, they want to beat us down”.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">“The St Petersburg summit is very special since it takes place at a delicate and serious moment of world affairs, not only because of the economic crisis but also because of the complicated global institutional situation such is security in the MIDDLE EAST”</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">The ARGENTINE head of state is expected to hold bilateral meetings with RUSSIAN leader Vladimir Putin and CHINA’S Xi Jinping.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Secretary General to the presidency Oscar Parrilli also informed Cristina Fernández will be meeting INDIAN and JAPANESE leaders Manmohan Singh and Shinzo Abe respectively as well as SOUTH AFRICAN head of state Jacob Zuma in the margins of the multilateral reunion.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">With her CHINESE counterpart, the ARGENTINE leader will be signing three agreements that aim at strengthening bilateral ties in strategic areas such as economy and food.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-element: para-border-div; padding: 1.0pt 4.0pt 1.0pt 4.0pt;"><div class="MsoNormal" style="border: none; line-height: normal; mso-border-alt: solid windowtext .5pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0in; text-align: justify;"><span style="color: blue;"><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Background Information: </span></b></span></div><div class="MsoNormal" style="border: none; line-height: normal; mso-border-alt: solid windowtext .5pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0in; text-align: justify;"><b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt;"><span style="color: #cc0000;">BUSINESS CLIMATE IN LATIN AMERICA REACHES 18-MONTH HIGH</span> </span></b><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"></span></div><div class="MsoNormal" style="border: none; line-height: normal; mso-border-alt: solid windowtext .5pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><a href="http://geopoliticsrst.blogspot.co.at/2013/03/latin-american-economics.html">http://geopoliticsrst.blogspot.co.at/2013/03/latin-american-economics.html</a></span></div><div class="MsoNormal" style="border: none; line-height: normal; mso-border-alt: solid windowtext .5pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><a href="http://geopoliticsrst.blogspot.co.at/2013/09/us-and-china-battle-it-out-for-latin.html">http://geopoliticsrst.blogspot.co.at/2013/09/us-and-china-battle-it-out-for-latin.html</a></span></div><div class="MsoNormal" style="border: none; line-height: normal; mso-border-alt: solid windowtext .5pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; mso-padding-alt: 1.0pt 4.0pt 1.0pt 4.0pt; padding: 0in; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><a href="http://geopoliticsrst.blogspot.co.at/2013/03/latin-america-and-europe.html">http://geopoliticsrst.blogspot.co.at/2013/03/latin-america-and-europe.html</a></span><br /><a href="http://geopoliticsrst.blogspot.co.at/2013/02/argentinean-politics-under-claw-of.html"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">http://geopoliticsrst.blogspot.co.at/2013/02/argentinean-politics-under-claw-of.html</span></a></div></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><br /></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";"><table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: right; margin-left: 1em; text-align: right;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitMFsY5eimgB7itsouMJdw7D6dhg_0dMiQl8pNagr21ld11HE5mEUiS7ULXtdqDRDj6X2aXNgf5MR877F_ed4URIYPObYqZKWiUMf4zplqJGe-p9Mi5D_nHuQdN9p1aJTlCv0Dum68Z-rA/s1600/Paul_Singer.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitMFsY5eimgB7itsouMJdw7D6dhg_0dMiQl8pNagr21ld11HE5mEUiS7ULXtdqDRDj6X2aXNgf5MR877F_ed4URIYPObYqZKWiUMf4zplqJGe-p9Mi5D_nHuQdN9p1aJTlCv0Dum68Z-rA/s320/Paul_Singer.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Paul E. Singer</td></tr></tbody></table></span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">Cristina Fernandez will also receive at a special meeting the new chief of the World Trade Organization, Roberto Azevedo.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">According to government sources, Cristina Fernández de Kirchner will be taking to the G20 table the official decision to reopen the debt swap (which already has half-approval and is supported by the opposition) –facing a 1.3 billion dollar legal dispute against US-based vulture funds-, calls to reform the international financial system, the fight against tax havens, and the creation of employment as a key element both to face and overcome the global crisis hitting the world since 2008.</span></div><div class="MsoNormal" style="line-height: normal; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: justify;"><span style="font-family: "Times New Roman","serif"; font-size: 12.0pt; mso-fareast-font-family: "Times New Roman";">RUSSIA occupies this year the rotating chair of G20 and is hosting the St Petersburg summit at the St Constantine Palace. Putin said that the summit agenda will concentrate on uniting efforts to prop global economic growth and promote employment by creating jobs.</span></div>

ARGENTINA: THE GEOPOLITICS OF INTERNATIONAL MONETARY AND FINANCIAL SYSTEMS

IIlustration by Jon Krause THE VULTURES VICTORY: VULTURE FUNDS HAVE RAISED GREED TO A NEW LEVEL By Joseph E. Stiglitz, a Nobel laureate in...

Today's Teamster News 09.05.13

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<a href="http://www.marketwatch.com/story/ual-flight-simulator-techs-vote-for-teamster-representation-2013-09-04" rel="nofollow">UAL Flight Simulator Techs Vote For Teamster Representation</a>  teamster.org   ...flight simulator technicians at United Airlines voted for sole representation by the Teamsters Union. The 98 technicians were previously represented by the Teamsters at United in Denver and the Transport Workers Union at Continental in Houston prior to the 2010 merger...<br /><a href="http://www.teamster.org/teamcare" rel="nofollow">TeamCare Improvements Announced for UPS Teamsters</a>  teamster.org   ...Local union leaders representing UPS Teamsters who currently receive TeamCare health care benefits and those moving into the TeamCare plan met in Chicago today to learn about improvements made since the UPS National Master Agreement was ratified in June...<br /><a href="http://www.tcdailyplanet.net/news/2013/09/04/workers-plan-major-nationwide-protest-against-walmart" rel="nofollow">Workers plan major nationwide protest against Walmart for September 5th</a>  Workday Minnesota   ...Workers in more than a dozen cities, including St. Paul, plan protests Thursday against Walmart’s treatment of its employees. Organizers expect thousands to participate in the demonstrations...<br /><a href="http://economix.blogs.nytimes.com/2013/09/03/paid-vacations-decline/?_r=0" rel="nofollow">Paid Vacation’s Decline</a>  New York Times   ...In 1992-93, 82 percent of American workers reported receiving paid vacation days. Today the share is down to 77 percent...<br /><a href="http://www.huffingtonpost.com/2013/09/04/who-makes-the-minimum-wage_n_3866290.html" rel="nofollow">Minimum Wage Workers Largely Live In The South, Are Women</a>  Huffington Post   ...Even in Hanson County, South Dakota, America’s cheapest county, a single <a href="http://www.huffingtonpost.com/2013/07/17/worker-wage_n_3610530.html">full-time worker needs to earn $10.20 per hour</a> -- nearly $3 more than the federal minimum wage -- to afford basic needs...<br /><a href="http://www.macrobusiness.com.au/2013/09/as-austerity-lifts-so-does-europe/" rel="nofollow">As austerity lifts, so does Europe</a>  macrobusiness   ...Another good week for Europe as the latest PMI data shows the tentative recovery is gaining pace...<br /><a href="http://thinkprogress.org/economy/2013/09/04/2572141/american-families-food-insecurity/" rel="nofollow">One In Seven American Families Faces Food Insecurity</a>  ThinkProgress   ...An average of 11 percent of families were food insecure from 1998 to 2007, but in 2008 the rate spiked above 14 percent...<br /><a href="http://www.epi.org/blog/budget-debates-matter-difference-gop-democratic/" rel="nofollow">Budget Debates Matter: The Difference in GOP and Democratic Levels of Discretionary Spending for 2014 Translates into Nearly 1 Million Jobs</a>  Economic Policy Institute   ...just as the intellectual case for austerity has fallen away, American policy is now set on an extremely austere auto-pilot that will slow growth and employment, all while the economy remains very far from recovered from the Great Recession...<br /><a href="http://www.project-syndicate.org/commentary/lehman-brothers-and-the-failure-of-free-market-finance-by-adair-turner" rel="nofollow">The Failure of Free-Market Finance</a>  Project Syndicate   ...high debt burdens, relentlessly rising for several decades – in the private sector even more than in the public sector – were a major threat to economic stability...<br /><a href="http://preview.reuters.com/2013/9/3/student-loan-default-rates" rel="nofollow">What we don't know about the $1.2 trillion student loan problem</a>  Reuters   ...$28,000 -- The typical 2012 college graduate’s debt load upon Graduation Day, according to Hamilton Place Strategies...<br /><a href="http://www.economicpopulist.org/content/us-trade-deficit-returns-july-2013-5356" rel="nofollow">The U.S. Trade Deficit Returns in July 2013</a>  Economic Populist   ...The real news is the monthly China trade deficit just hit a new all time high of $30.1 billion...<br /><a href="http://www.housingwire.com/articles/26628-injunction-preventing-hundreds-of-ri-foreclosures-is-lifted" rel="nofollow">Injunction preventing hundreds of RI foreclosures is lifted</a>  HousingWire   ...A Rhode Island federal judge lifted a blanket injunction, which initially blocked foreclosures in 825 different cases...<br /><a href="http://www.bloomberg.com/news/2013-09-04/wealthy-new-yorkers-call-de-blasio-s-tax-plan-offensive.html" rel="nofollow">Wealthy New Yorkers Call De Blasio’s Tax Plan Offensive</a>  Bloomberg   ...When New York mayoral candidate Bill de Blasio first proposed taxing the rich so every child in the city could attend all-day preschool, it was October and he had support from fewer than 10 percent of Democrats in polls. Now he leads the pack...<br /><br />

Today's Teamster News 09.05.13

UAL Flight Simulator Techs Vote For Teamster Representation teamster.org ...flight simulator technicians at United Airlines voted for so...

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ARGENTINA: THE GEOPOLITICS OF INTERNATIONAL MONETARY AND FINANCIAL SYSTEMS

Today's Teamster News 09.05.13

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