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February 11 2014

07:41

Puerto Rico Blues

Sunny Puerto Rico hits the skids. Its debt goes to junk level. Puerto Rico’s in trouble. We’ll go south to ask why.

A demonstrator wearing a Guy Fawkes mask joins a teacher's protest outside the Department of Labor in San Juan, Puerto Rico, Wednesday, Jan. 15, 2014. Striking school teachers are gathering in Puerto Rico's capital to talk with government officials about recent changes to their retirement system as part of a two-day walkout. (AP)

A demonstrator wearing a Guy Fawkes mask joins a teacher’s protest outside the Department of Labor in San Juan, Puerto Rico, Wednesday, Jan. 15, 2014. Striking school teachers are gathering in Puerto Rico’s capital to talk with government officials about recent changes to their retirement system as part of a two-day walkout. (AP)

Guests

Dan Rosenheck, professional services correspondent and sports editor at The Economist.

Carlos Colon de Armas, professor of finance and acting dean at the University of Puerto Rico’s Graduate School of Business.

Orlando Sotomayor, professor of economics at the University of Puerto Rico.

From Tom’s Reading List

New York Times: Economy and Crime Spur New Puerto Rican Exodus — “Puerto Rico’s slow-motion economic crisis skidded to a new low last week when both Standard & Poor’s and Moody’s downgraded its debt to junk status, brushing aside a series of austerity measures taken by the new governor, including increasing taxes and rebalancing pensions. But that is only the latest in a sharp decline leading to widespread fears about Puerto Rico’s future. In the past eight years, Puerto Rico’s ticker tape of woes has stretched unabated: $70 billion in debt, a 15.4 percent unemployment rate, a soaring cost of living, pervasive crime, crumbling schools and a worrisome exodus of professionals and middle-class Puerto Ricans who have moved to places like Florida and Texas.”

 The Economist: Buying on credit is so nice — “The macroeconomic situation in Puerto Rico is strikingly similar to that of Greece in 2010. It uses an expensive currency it cannot control. Its citizens eagerly dodge paying taxes to a bloated public sector. And its officials protest too much that default is unthinkable. However, there have been no riots or calls for a change of government.”

The Wall Street Journal: Puerto Rico Seeking $2 Billion Debt Offering –”Puerto Rico has said it doesn’t need to borrow before its fiscal year ends in June. But it wants to show investors it can still borrow money in the public bond market despite a sharp rise in yields on its bonds, 15% unemployment and $70 billion in outstanding debt, officials have said.”

November 03 2013

21:00

HGL 033: Bar preparation sanity with Themis Bar Review

In this session of the Happy Go Legal podcast, Chelsea interviews Rich Douglas, COO of Themis Bar Review - he will share his thoughts on how you can create a successful environment and support team for preparing for the bar exam, and tips for success. http://happygolegal.com/2013/08/hgl-033-bar-preparation-sanity-with-themis-bar-review/

November 01 2013

21:12

Gail Vaz-Oxlade: From Debt-Ridden to Debt-Free - Nov 1, 2013

As part of our Project Money, Gail Vaz-Oxlade guests hosts a special Project Money edition of The Current and shares her advice on how manage unmanageable debt.

January 28 2012

13:15

Ireland needs to default

Ireland has more debt than any other country in the world.

December 09 2011

12:12

What If We Paid Off The Debt? The Secret Government Report : Planet Money : NPR

It sounds ridiculous today. But not so long ago, the prospect of a debt-free U.S. was seen as a real possibility with the potential to upset the global financial system. http://www.npr.org/blogs/money/2011/10/21/141510617/what-if-we-paid-off-the-debt-the-secret-government-report

September 02 2011

22:15

David Graeber | The History of Debt

Dr. Moira Gunn learns about this history of Debt from London University anthropologist and author, David Graeber, from the pages of his new book, Debt: The First 5,000 Years. http://itc.conversationsnetwork.org/shows/detail5031.html

July 23 2011

07:00

Obama: I Want A Debt Ceiling Deal For My Birthday : NPR

Host Michel Martin continues her conversation with President Barack Obama. He comments on the criticism his wife received for ordering a high-calorie meal, and shares his feelings about turning 50. http://www.npr.org/2011/07/22/138603439/obama-i-want-a-debt-ceiling-deal-for-my-birthday?ps=cprs

July 12 2011

17:30

James Turk: Gold Is Our Defense Against the Fiat Currency Graveyard - Blogs at Chris Martenson

“The rule of law has basically been thrown out the window. Money printing is the order of the day. And when politicians take control of central banks, which they have done in the United States and they are also doing in Europe, that basically destroys http://www.chrismartenson.com/blog/james-turk-gold-our-defense-against-fiat-currency-graveyard/60423

September 08 2010

08:46

Freelance Advisor: Credit Control and Debt Collection (part 1)

September 01 2010

17:24

Niall Ferguson: Empires on the Edge of Chaos

The Centre for Independent Studies 2010 John Bonython Lecture with Niall Ferguson. Is the rise and fall of empires cyclical or arrhythmic? How does economic profligacy - whether the result of arrogance or naivety - contribute to the downfall of civilisations? Today Professor Ferguson will argue that great powers or empires are in the strict sense of the word, complex systems. Made up of very large numbers of interacting components that are quite asymmetrically organised. In other words, he continues, their construction more resembles a termite hill than an Egyptian pyramid. They operate somewhere between order and disorder. Moreover imperial falls are nearly always associated with fiscal crises, when there are dramatic imbalances between revenues and expenditures. Thus alarm bells should be ringing in Washington DC but what does that for mean for Australia?

August 27 2010

19:53

Third Paradigm: 3P-061 Wossamotta U

This show examines the university as the self-perpetuating goal of education. Reviews the NY Times article "Placing the Blame as Students Are Mired in Debt," the Washington Examiner article, "Higher Education's Bubble is About to Burst," and the book by Anya Kamenetz, DIY U. Cites statistics on drop-out rates, the cost/benefit ratio, and a jaundiced look at college from "The Economics of Education and the Education of an Economist." Reads the poems "When the Shoe Fits" by Chuang Tsu and "Straight Talk from Fox" by Mary Oliver. Reconsiders some conclusions from a survey showing Republicans are happier than Democrats. Questions whether Obama has been groomed for the job, in the same way as economic hit men. Read the show transcript while listening, and view our images, videos, and links on the Third Paradigm website: http://thirdparadigm.org/3p_061.php

August 17 2010

13:58

DPCRadio: Technical Debt

Speaker: Elizabeth Naramore Technical debt is something that most project teams or independent developers have to deal with – we take shortcuts to push out releases, we don’t focus on quality, deadlines need to be met, quick fixes slowly become the standard. Whatever the reason, if we don’t manage our technical debt (not unlike financial debt), before too long our applications are technically bankrupt, and we are forced to completely refactor and start anew. In this talk, we will discuss what technical debt is, when it is acceptable and when it isn’t, and strategies for effectively managing it, both on an independent and team level. We’ll talk about how it affects the entire team and how to work through minimizing it, as well as working effectively as a team to address it.

July 13 2010

13:26

Niall Ferguson: A Checkup on Global Financial Health

http://www.onpointradio.org/2010/06/niall-ferguson-a-checkup-on-global-financial Bigfoot historian Niall Ferguson made his name with a fearless readiness to speak to history and our moment in it in the biggest terms. If you want to talk about the rise and fall of empires – Roman, American, British, Soviet – Ferguson’s your man. Now he’s followed history right into the middle of a raging debate over whether we need more stimulus spending right now, or need to slam on the spending brakes to avoid a system collapse. Ferguson’s a hit-the-brakes man. He dukes it out with Paul Krugman
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