financializer news A weblog highlighting financial topics making news in the international media.

bill addresses: Part of the bill addresses the grim outlook for many workers who don't have access to workplace retirement accounts, according to Market Watch. It offers small businesses tax incentives to set up automatic enrollment in retirement plans for its workers, or allows them to join multiple employer plans, where they can band together with other companies to offer retirement accounts to their employees in the first place. The SECURE legislation which stands for Setting Every Community Up for Retirement Enhancement puts into place numerous provisions intended to strengthen retirement security across the country. The bill also eliminates the maximum age cap for contributions to traditional individual retirement accounts. The SECURE Act is a nice thing anything we can do on a bipartisan basis in this day and age is something of value but my sense is the changes in the act are really quite modest, said Alicia Munnell, director of the Center for Retirement Research at Boston College, and a columnist for Market Watch. Not all retirement experts are certain the bill will have much of an impact. (news.financializer.com). As reported in the news.

british voters: Pro-Brexit campaigners hold placards near the Houses of Parliament on Friday in London, the UK. Photo Sun Wei/GT Tired British voters wanted to end the Brexit chaos that began three years ago, but the real tests at home and abroad still loom, according to Global Times China. New political landscape The landslide victory in general election on December 12 gave the Conservative Party's Commons the largest majority with 365 seats since Margaret Thatcher won a third term in 1987. Boris Johnson's Brexit deal is now on the right track to complete its passage through both houses of parliament in time to break Brexit impasse by the end of January 2020. Boris Johnson promised to get Brexit done on time by the 31st of January, no ifs, no buts, no maybes, he said right after his victory, which eliminates one of the main hurdles faced by him, and his predecessor Theresa May in the past. The election is very unusual, because it is more like a Brexit election where traditional party loyalty has given place to differences between Remain and Leave. Johnson's large majority means he will only need to rely on the support of Tory MPs to pass any Brexit legislation with ease. (news.financializer.com). As reported in the news.

cao meng: The overall atmosphere is very dynamic, Huang told the Global Times, according to Global Times China. Earlier this month, two solid-fueled Kuaizhou-1A rockets were fired into orbit from the same spaceport in northern China with a gap of less than six hours. For both players with state-owned enterprise backgrounds or private-invested, this year means harvesting the gains of past efforts, said Huang Zhicheng, an expert in the space industry. Kuaizhou-1A is a low-cost solid-fuel carrier rocket with high reliability and a short preparation period. Cao Meng, head of marketing at Expace Technology Co, which is subordinate to state-owned CASIC, told the Global Times that the company has basically completed its mission of eight to nine launches planned at the beginning of the year, and it is scheduled to do four to five launches in the first half of next year. The rocket, developed by a company under the China Aerospace Science and Industry Corp CASIC is mainly used to launch low-orbit microsatellites. (news.financializer.com). As reported in the news.

development pattern: With each transaction, they receive immediate fees and tax revenue, but also take on the long-term responsibility to provide ongoing service, maintenance, and in the case of And while that new big box store, strip mall, or drive-thru restaurant may last only a couple of decades, the maintenance obligations from all that asphalt and those new sewer lines are eternal, according to Market Watch. Too often, though, we haven't ever bothered to quantify those obligations. Bolstered by state and federal funding, municipal bond debt financing as well as tax incentives and deferrals, cities and towns that want to induce new development have many means of doing so. When you begin to do the math on our development pattern, what you find is alarming. This is not hyperbole. Most cities and towns in North America are functionally insolvent. (news.financializer.com). As reported in the news.

law: The threshold is far lower than the current 10 percent, according to The Japan Times. The revised law is expected to take effect around May next year. According to the survey, 86 percent of responding institutional investors worldwide believe the revised foreign exchange and trade law could negatively affect foreign investment in Japanese stocks. ; Enacted in November, the revised law requires foreign investors to notify the government before acquiring a stake of 1 percent or more in listed companies in national security-related fields such as weapons, nuclear energy and semiconductors. Organizations including the CFA Society Japan conducted the survey from Nov. 15 to 27, collecting answers from 115 institutional investors working for asset management companies, banks, life insurance businesses and others. But many respondents are critical of what they see as an attempt to restrain shareholders from exercising the right to submit proposals. Institutional investors will be exempt from the tighter regulations unless they demand a position on the company's board or the transfer or discontinuance of a key business. (news.financializer.com). As reported in the news.

mediterranean allies: The measure strengthens military ties with Greece and lifts a decades-old arms embargo on Cyprus, reaffirming the U.S. commitment to the countries and positioning the allies to keep Turkey's regional ambitions in lifting the U.S. Arms Embargo on Cyprus and extending necessary Foreign Military Assistance to Greece, this legislation brings forth a comprehensive approach to the stability of key regional partners, Sen, according to The Independent. Marco Rubio Marco Antonio Rubio Congress looks to Mediterranean allies to counter Turkey, Russia Rubio Confirmations of Trump judges not getting enough attention Senate panel advances Trump's nominee to lead Small Business Administration MORE Fla. the lead Republican co-author of the legislation, said in a statement. Congress passed legislation last week as part of a 1.4 trillion spending package that makes the U.S. a key player in the market for natural gas in the region through a security and energy partnership with Eastern Mediterranean countries. Sen. The discovery over the past decade of large fields of natural gas in the separate maritime waters of Cyprus, Egypt and Israel has altered the dynamics of the sometimes volatile region. Bob Menendez Robert Bob Menendez Booker releases list of campaign bundlers MSNBC's Ali Velshi to move to weekends, host two-hour program Saagar Enjeti says Corbyn's defeat in UK election represents 'dire warning' for Democrats MORE D-N.J. the ranking member of the Senate Foreign Relations Committee and co-author of the bill, said the legislation marks the dawn of a new day for the United States' engagement in the Eastern Mediterranean. (news.financializer.com). As reported in the news.

life story: With that in mind, many find that along with creating a vision board for the new year, reading real-life tales about regular people who've achieved extraordinary things is just the recipe to get them pumped up for all the great things a new year can bring, according to The Independent. Thankfully, some of our favorite celebrities have written heartfelt and truthful memoirs about their rise to the top and the lessons they've learned along the way. Oftentimes, we find ourselves down about what we didn't do versus all that we accomplished and the opportunities a new year brings. Here are three great memoirs from some of the top stars in Hollywood who have shared their life story in book form. She's admitted that her role on the show gave her career a boost she didn't dream possible. Barnes & Noble Michael Brochstein/SOPA Images/Light Rocket via Getty Images Taraji P. Henson's Around The Way Girl Taraji P. Henson 2016 John Lamparski/Wire Image With the hit FOX show Empire in its fifth season, fans are sad they won't be able to see Henson as Cookie Lyon on their television screens every week. (news.financializer.com). As reported in the news.

section issues: Citing complaints from market participants about overlapping functions at some of the markets, the FSA proposed integrating the second section and the Jasdaq to make clear the roles of each market, according to The Japan Times. At present, the TSE consists of four markets the first section for big companies, the second section for midsize firms, the Jasdaq comprised of a variety of companies and the Mothers dedicated to startups. In a reform plan drafted by a study group, the FSA also proposed slimming down the composition of the Topix index of all first section issues on the TSE by excluding those whose trading volumes remain sluggish. ; The agency will urge the bourse to start implementing the proposals around the first half of 2022, according to the report. Although the Jasdaq is characterized as an emerging market, it handles some big names, including McDonald's Holdings Co. The FSA proposed setting the minimum market capitalization requirement for the prime market at 10 billion 91 million while taking transitional measures to retain the currently listed small-cap issues. Japan . According to the plan, the TSE will create a prime market, which would be equivalent to the first section, a standard market for stocks listed in the second section and the Jasdaq, and a growth market for those in the Mothers. (news.financializer.com). As reported in the news.

money: Amid ongoing chaos and protests in Hong Kong, some NGOs there have increasingly played a role of accelerating street violence as they fund radical and illegal street protesters and call for donations to those arrested for violence, according to Global Times China. On December 19, Hong Kong police arrested four members of Spark Alliance, an online fundraising platform that raises money to aid illegal protesters, on the charge of money laundering. Photo Cui Meng/ GT Hong Kong police's crackdown on fundraising platforms serving illegal protesters was applauded by Chinese netizens who called for more efforts to cut illicit money flows to rioters. Some rioters vandalized and set fire to the HSBC Mong Kok branch on Christmas Eve after the bank closed Spark Alliance's account in November in adherence to its global standards. Similar organizations including 612 Humanitarian Relief Fund, Justice Defense Fund, and many others have a record of scandal and financial misconduct documented by Hong Kong media. HSBC said Wednesday that it is saddened and disappointed by the acts of vandalism at its branch. (news.financializer.com). As reported in the news.

officer: He was tasked with spearheading the implementation of its restructuring measures. ; Seki is set to join leading Japanese electric-motor manufacturer Nidec Corp. as president and chief operating officer, according to The Japan Times. The 58-year-old, who has confirmed the move, was among the contenders to be Nissan's chief executive officer in October but missed out to Makoto Uchida, who was until recently the company's China chief. Nissan said in a statement it accepted the resignation but did not disclose the reasons for the departure of Jun Seki, who took the automaker's No. 3 post of vice chief operating officer on Dec. 1. Nissan has seen its share of executive departures since last year's shock arrest of former longtime chief Carlos Ghosn, but Seki's exit stands out because he was part of a triumvirate set up to disperse leadership responsibilities at the automaker, Japan's third largest by output. Seki will be joining a company that makes about an eighth of Nissan's sales, but has a market value that's more than 60 percent higher at about 4.5 trillion 41 billion . Known for its precision products, Nidec is the world's No. 1 supplier of hard-drive motors. The defection marks yet another distraction for Nissan, which is struggling to recover from the chaos unleashed by Ghosn's arrest and an industry downturn, with profits at a decade-low and relations tense with French partner Renault SA. The departure of Seki, who spent most of his career in engineering and manufacturing at Nissan, comes at a precarious time for the company and the auto sector, with established carmakers seeking scale through consolidation as a way of splitting the billions of dollars in investments needed to keep up with the shift toward electric and self-driving cars. (news.financializer.com). As reported in the news.

tokyo trading: Hong Kong's Hang Seng Index, South Korea's Kospi and Australia's S&P/ASX 200 were closed, according to Market Watch. Among individual stocks, Nissan 7201, 0.57% sank in Tokyo trading after its vice chief operating officer who had been tasked with the auto maker's recovery from scandal said he will step down. Japan's Nikkei NIK, -0.36% slipped 0.2%, while the Shanghai Composite SHCOMP, -0.08% was about flat and the smaller-cap Shenzhen Composite 399106, -0.67% rose 0.4%. Taiwan's Taiex Y9999, 0.75% was flat. E-commerce company Rakuten 4755, 1.01% also declined. The S&P 500 SPX, 0.51% and Dow Jones Industrial DJIA, 0.37% finished with tiny losses. U.S. stocks closed mixed on Tuesday, with only the Nasdaq COMP, 0.78% managing to post another record-high close. (news.financializer.com). As reported in the news.

velocity: Hirsch Velocity Cirrus allows users to control, manage, maintain, and update their Hirsch access control systems via a fast, simple-to-navigate web user interface, according to The Independent. Dealers can now deploy ACaaS services with the full range of advanced Hirsch Velocity and Mx Controller-enabled features. Related CONTENTIdentiv Receives Multi-Year Project Awarded by Schreiner Group for Secure RFID InlaysUS DOE Office of Electricity Selects PARC, Con Edison, GE to Improve Grid Reliability Identiv Reports 2Q 2019 Results Identiv Introduces Retired U.S. Navy Vice Admiral Robin R. Braun as Board Director Identiv Joins Security Industry Association's Cybersecurity Advisory Board ; 12.25.19Identiv, Inc. launched Hirsch Velocity Cirrus, the industry's most reliable cloud-based Access Control as a Service ACaaS solution, built on the award-winning Hirsch physical access control system PACS platform. Customers can choose core features for basic access or advanced features, including government-grade, secure connectivity between hardware and server, full Mx Controller support, alarm and event viewer, enrollment manager, customizable reports and threat levels, employee/person-escort and two-person rules, and anti-passback and timed anti-passback. Updates occur automatically and invisibly. By providing Velocity services from the cloud, users no longer need to manage local software or server hardware, said Mark Allen, Identiv GM, Premises. (news.financializer.com). As reported in the news.

canada u.k: Open Search Log In Join Huff Post Plus Join Huff Post Plus In 2019, Teens Helped Prove Gen Z Is UnstoppableNEWS POLITICS ENTERTAINMENT COMMUNITY LIFE PERSONAL VIDEO SHOPPING HIGHLINEU.S. Canada U.K. Australia Brazil Espa a France Greece India Italia Japan Korea Maghreb QuebecU.S. Edition function var disable AdRotation 1 ; var ads Div var default Delivery f ; // enable Queue 0 wait ForGlobal function return window.html AdWH && window.ad SetSync Called; function // override ads Pl in template if 'function' typeof window.ad SetPlId if 'undefined' typeof window.orig AdsPlId window.orig AdsPlId window.ads Pl; if 'undefined' ! typeof window.orig AdsPlId // override ads Net Id in template if 'function' typeof window.ad SetNet Id if 'undefined' typeof window.orig NetId window.orig NetId window.ads Nt; if 'undefined' ! typeof window.orig NetId ads Div.reload Count 0; var recovery Id ''; var needs Recovery recovery Id && recovery Id.length && kraken ad Block && kraken ad Block.active; var ad Id needs Recovery recovery Id '963875180'; // try ad Id ad Id; catch e // Override adtech call type var delivery type default ; var adtech call type ; switch delivery type case by request adtech call type ajax ; break; case text adtech call type text ; break; case iframe adtech call type iframe ; break; case iframe proxy adtech call type f ; break; case collapsed adtech call type fc ; break; default adtech call type default Delivery; break; var args 'lb', 'lb' ; if needs Recovery function ads Div //html AdWH ad Id, args 0 args 1 fileless ads Div ; ; else html AdWH ad Id, args 0 args 1 adtech call type, ads Div ; if !disable AdRotation ads Rotate Mult ads Div ; if typeof debugadcode 'function' debugadcode 'AdTech', placement 'leaderboard flex', mnid ad Id ads Div ; wait ForGlobal 'jQuery', function function ev, elem if elem && !elem.contains ads Div return; var refresh Rate 1; ads Div.reload Count ; if ads Div.reload Count % refresh Rate 0 && typeof ads Reload Ad 'function' ads Reload Ad ads Div ; ; ; ad SetInView '0' ; ; // wFG html AdWH //modulous queue closing ; if typeof HPAds ! 'undefined' U.S. NEWS 12/25/2019 04 06 pm ETIn 2019, Teens Helped Prove Gen Z Is Unstoppable From activist Greta Thunberg to actress and producer Marsai Martin, here's a look at some of the many young adults who showed the kids are yes, still all right, according to MSNBC. By Saba Hamedy ASSOCIATED PRESS Climate activists participate in a student-led climate change march in Los Angeles on Nov. 1. All rights reserved.BREAKING NEWSTap here to turn on desktop notifications to get the news sent straight to you. If 2019 proved anything, it's this Never underestimate the youths. From their wokeness on social media to their on-the-ground activism, the generation of young adults helped elevate issues often ignored or not taken as seriously by older generations most notably climate change . As the decade comes to an end and millennials age into their late 20s and 30s, this next generation is showing their might in a variety of ways. Thanks to Generation Z which Pew Research Center defines as those born after the year 1996 who are 22 or younger by the end of 2019 this year was a little more bright. (news.financializer.com). As reported in the news.

cbs news: Follow him on Twitter David Andelman, according to CNN. The views expressed in this commentary are his own. Author of A Shattered Peace Versailles 1919 and the Price We Pay Today, he was formerly a foreign correspondent for The New York Times and CBS News in Europe and Asia. View more opinion on CNN. (news.financializer.com). As reported in the news.

christ: The 83-year-old pope listed several places -- including Syria, Lebanon, Iraq, Venezuela and Ukraine -- while calling for peace, according to CNN. There is darkness in human hearts, yet the light of Christ is greater still, the pope told the thousands gathered in St. Speaking from the Vatican balcony under a clear blue sky on Wednesday, the Holy Father prayed for people struck by war, political instability, natural disasters and disease among other hardships in his annual Urbi et Orbi to the city and the world message. Peter's Square. There is darkness in economic, geopolitical and ecological conflicts, yet greater still is the light of Christ, he added. There is darkness in personal, family and social relationships, but the light of Christ is greater. (news.financializer.com). As reported in the news.

homes: A watch and act warning remains in place for the region, where fires have destroyed 84 homes and hundreds of other buildings, as well as claiming one life, according to Nine News Australia. There has again been flareups throughout the day with crews attending to breakouts and undertaking asset protection, emergency services said. To improve your experience update it here News National South Australia bushfires Milder weather helps battle against blaze crisis ahead of weekend heat By AAP10 24pm Dec 25, Australian firefighters have used Christmas Day to try to bring the devastating Adelaide Hills bushfire under control. A watch and act warning remains in place for the Adelaide Hills fire, which has destroyed 84 homes and hundreds of other buildings as well as claiming one life. Similar weather conditions will be experienced tomorrow before temperatures and winds start to increase on Friday. AAP Slightly milder conditions today were expected to give the state's Country Fire Service some chance of bringing the 25,000-hectare blaze to heel. (news.financializer.com). As reported in the news.

mirwais rohani: Trained in China, the young Afghan doctor fled the Taliban in Kabul only to become trapped in Australia's offshore immigration detention system, according to CNN. He ended his own life in a Brisbane city hotel on October 15. Sayed Mirwais Rohani wanted to heal people, but he died a broken man. He was 32. The family's lawyer, George Newhouse, says it deserves a full inquest. A coroner's investigation into Rohani's death is in its very early stages. (news.financializer.com). As reported in the news.

cash offer: Since the Kuoks had received valid acceptances of over 90 per cent on Dec 11, they can exercise the right of compulsory acquisition over all shares held by shareholders who have not accepted the offer by the final closing date of Jan 2, according to The Independent. Provenance Capital, the independent financial adviser, had earlier advised the independent directors of POSH to recommend that shareholders accept the cash offer because it is fair and reasonable . ; sentifi Market voices on ; The shares will be acquired on the same terms as those tendered under the general offer, at the offer price of S 0.215 per share. (news.financializer.com). As reported in the news.

deficit reduction: Biggs' preference is in line with that of Alberto Alesina, an exponent of austerity for countries with large debts, according to The Independent. The Harvard University professor has been writing about government fiscal policy for much of his 33-year career. In the paper, A Guide for Deficit Reduction in the United States Based on Historical Consolidations That Worked, which Biggs authored with Kevin Hassett and Matthew Jensen, they said that The average expenditure share for successful consolidations is 80 percent if inclusive of our calculations and those from others . They argued that cuts should be focused on government wages and the provision of social transfers. He authored a book with Carlo Favero and Francesco Giavazzi, Austerity When it Works and When it Doesn't, published earlier this year. The authors argue that government debt in major industrialized countries should be reduced. Harvard University Economist Alberto Alesina said that austerity has a better track record when it consists mainly of spending cuts rather than tax increases. (news.financializer.com). As reported in the news.

gold trading: Wien didn't provide further clarity on his gold estimates or the precise direction of gold trading in 2020, according to Market Watch. However, his comments came as the precious commodity was on pace to enjoy one of its strongest daily gains since late November and its highest finish since early last month, rising past a psychologically significant level above 1,500 an ounce. It has a chance to be an interesting investment.' Byron Wien That is how the veteran investor, whom U.S. News & World Report report described as a modern-day cult figure on Wall Street and one of the most influential investors, described the outlook for the yellow metal in the coming 12-month stretch, during a CNBC interview, ahead of the release of his well-read list of market surprises. Gold for February delivery GCG20, 0.26% was most recently trading up 14.20, or 1%, at 1,503.10 an ounce on the Comex exchange. That is a relatively healthy run-up for the metal considering that stocks, which tend to move in the opposite direction of gold, have been trading near all-time highs. Gold has gained 17.3% so far this year, based on the most active contract, according to Fact Set data. (news.financializer.com). As reported in the news.

percent stake: Soft Bank did not respond to a request for comment, according to The Japan Times. Mizuho, MUFG and SMFG declined to comment. The technology conglomerate is now likely to enter the new year without the WeWork financing in place, the people said, adding the banks are also concerned about the risks involved in rescuing the U.S. office-sharing startup. ; Mizuho Financial Group Inc., Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. are seeking ways to provide the financing while offsetting exposure, the people said, declining to be identified because the information is not public. One option is to use some of Soft Bank's 26 percent stake in Chinese e-commerce giant Alibaba Group Holding Ltd. as collateral, the people said. The talks illustrate the difficulty Soft Bank poses for Japan's banks. RELATED STORIESSoft Bank's startup bookkeeping draws scrutiny after WeWork fiasco Soft Bank will have 'last laugh' on WeWork deal, analyst predicts Soft Bank is an important client so we want to do everything we can to help, but we have to consider our credit risk, said a senior banker. (news.financializer.com). As reported in the news.

photo afp: But both history and reality have proved that it is not always easy to maintain an objective and rational collective understanding, according to Global Times China. For example, once religion is radicalized, it may harm a society's rationality and lead to widespread misunderstandings on some issues. Photo AFP It is important that a society maintains an objective understanding of things. Political polarization is currently becoming a worldwide problem and causing increasingly severe divisions in many countries and societies. They are more like forces that divide society. Political parties are no longer carriers of different policies for the society. (news.financializer.com). As reported in the news.

ride-services company: Kalanick's bellicose style turned Uber into the world's largest ride-services company, revolutionized the taxi industry and challenged transportation regulations worldwide, according to The Japan Times. Very few entrepreneurs have built something as profound as Travis Kalanick did with Uber, Uber Chief Executive Dara Khosrowshahi said in a statement, crediting Kalanick's vision and tenacity. Kalanick, who helped found Uber in 2009 and once exerted nearly complete control, stepped down as chief executive in June 2017 under pressure from investors after a string of setbacks. ; He will depart Uber's board of directors by the end of the year, the company said on Tuesday. But his brashness was also blamed for a string of scandals and complaints over his leadership, resulting in a shareholder revolt to push him out. He is currently working on a startup that aims to build large industrial kitchens and lease space to restaurants. Kalanick said in a statement that now Uber was a public company, he wanted to focus on his current business and philanthropic pursuits. (news.financializer.com). As reported in the news.

bethlehem ap: Visitors converged on the town's large Christmas tree in Manger Square on Tuesday, near the spot believed to mark Jesus' birthplace, according to Nine News Australia. A worshipper prays inside the Church of the Nativity, built on top of the site where Christians believe Jesus Christ was born, on Christmas Eve, in the West Bank City of Bethlehem AP A Palestinian Scout marching band parades during Christmas celebrations outside the Church of the Nativity, built atop the site where Christians believe Jesus Christ was born, on Christmas Eve, in the West Bank City of Bethlehem AP Uniformed Palestinian scouts wearing yellow and gold capes paraded past assembled visitors, the sound of drums and bagpipes filling the cool, clear air. To improve your experience update it mark Christmas Eve in Bethlehem By AAP9 21am Dec 25, of Christian pilgrims have flocked to the West Bank town of Bethlehem, celebrating Christmas Eve in the traditional birthplace of Jesus. Vendors hawked snacks and holiday gifts, adding to the festive atmosphere. We love this opportunity, he said. Roger Hoagland, a Christian educator and missionary from Louisville, Kentucky, said he had come to lead a Baptist choir for a fourth time and described his visit as the experience of a lifetime. (news.financializer.com). As reported in the news.

chevy camaro: Franklin Jones was charged for a string of carjackings and car thefts over the last two months in St Louis County,Missouri, according to Nine News Australia. Police said he has stolen a 2011 Chevy Camaro and a 2018 Chevy Cruz and on at least two occasions he has shown a weapon to victims to steal two other cars. To improve your experience update it here News National Man 'used Tinder to steal dates' cars'By CNN3 56pm Dec 24, 2019Tweet Facebook MailA 20-year-old man has been accused of using Tinder to lure victims to him so he could steal their car, police in the USA said. Those cars include a 2009 Dodge Charger and a 2006 BMW 325i. Police said Jones stole cars in early November from along Linnell Drive in the area. When Jones took the BMW, law enforcement tried to stop him but he took off and eventually crashed in Illinois, police said. (news.financializer.com). As reported in the news.

columbia university: After completing his PhD at Brown University under Peter Howitt co-author with Philippe Aghion of seminal work in modern growth theory Guzm n obtained a coveted position at Columbia University, where he forged an academic career and became an influential expert on crucial policy debates at the domestic and global level, according to The Guardian. He has testified before the US Congress on Puerto Rico's debt crisis and spoken at the United Nations about the need for a better international system for resolving sovereign debt crises. Mart n Guzm n, with whom I have frequently collaborated in recent years, is among the world's leading experts on sovereign debt and the problems it can cause, making him the right person in the right place at the right time. In recent years he has divided his time between New York and Argentina, where he is a professor of macroeconomics at the University of Buenos Aires. They gambled on a set of policies making, for instance, untimely and unnecessarily large cuts in export taxes, paying off old, defaulted debt to so-called vulture funds with unconscionably high returns, and taking on new high-interest, long-term, dollar-denominated debt, all in the hope that market-friendly signals would lead to a rush of growth-spurring foreign investment. Trump's lack of strategic vision is going to make China great again Nouriel Roubini Read more When the former president Mauricio Macri took office, his economic team openly admitted that while they had inherited many problems, they started with one major advantage a low level of debt. (news.financializer.com). As reported in the news.