Sunday, August 10, 2014

2:59 PM 8/10/2014: In a San Juan Neighborhood, an International Arts Festival - NYT

In a San Juan Neighborhood, an International Arts Festival

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Members of the “Colectivo Morivivi,” a group of teens from Puerto Rico, work on their mural for the Santurce Es Ley 5 festival in Santurce, Puerto Rico.Credit Alexis Busquet
The Santurce neighborhood was once a forgotten part of San Juan, P.R. But something has stirred in the barrio where at night, gunfire isn’t an unfamiliar sound. It started with the artists.
Five years ago, a small group of gallery owners gathered to paint a mural on one of the neighborhood’s ramshackle buildings. What began as a small, semi-spontaneous arts-driven community event has since grown into an international arts fair.
The Santurce Es Ley 5 festival, Aug. 8, 9 and 10, is an example of what the event organizer and gallery owner Alexis Busquet calls “proliferation through art” — the transformation of a neighborhood through artwork and positive community interaction. The event includes open studios, music and experimental media throughout the weekend, as well as dozens of freshly painted, bright murals and art installations throughout the neighborhood. It’s a safe celebration of Santurce’s potential, led by artists and the community, Mr. Busquet said.
“It’s a great mix of young cultural artists with the existing community,” Mr. Busquet, a Pratt graduate and former New York resident, said of the neighborhood’s transformation. “It’s getting better through art. We understand the power of art.”
Buses running through Santurce during the festival will transport visitors between galleries and murals, and the Puerto Rico Museum of Contemporary Art will screen documentaries about the neighborhood.
Nearly 100 international and local artists will be on exhibit throughout the weekend. This year’s centerpiece artwork, a sweeping multistory mural, is being done by the Colectiva Morivivi, a group of teenage girls from Puerto Rico with talent well beyond their years. Mr. Busquet said he hopes the exposure from Santurce Es Ley 5 will lead to a long-term investment in the neighborhood.
“If gentrification means that more artists are going to move here and make it a better place, then sign me up,” he said. “We’re just tracing a line between what we love and what we think should happen. We’re taking broken places and fixing them. It’s an underground movement, but it’s curated and run by artists and gallery artists and the community.”

In a San Juan Neighborhood, an International Arts Festival

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The Santurce Es Ley 5 festival in Puerto Rico will include murals, art installations, music and experimental media.

Morning Agenda: Markets Fall but Strategists Shrug

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The stock market ended July with a dive but analysts were upbeat. | Argentina may be in default but also may be in denial. | A popular prepaid money card has opened a path to fraudulent schemes. | Trulia is at a competitive disadvantage while it...

Lenders to Puerto Rico Utility Extend Payment Deadline

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The Puerto Rico Electric Power Authority owes about $800 million on two main credit lines. But if the banks force the utility to pay immediately, that could increase their likelihood of losses.

A Newly Found Mite Is Jenny From the Reef

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A research team that liked listening to the music of Jennifer Lopez called an aquatic mite it discovered Litarachna Lopezae.

El informe de la Reserva Federal 

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Por: Sergio M. Marxuach
En el 2012 economistas del Banco de la Reserva Federal de Nueva York (conocido comúnmente como el Fed de Nueva York) publicaron un informe sobre la competitividad de la economía de Puerto Rico. Hace apenas unos días, el 31 de julio, el Fed de Nueva York publicó una actualización de ese informe. El informe más reciente ha sido prácticamente ignorado por el gobierno y la prensa local. Los pocos economistas que lo han comentado lo han despachado como un documento que no dice nada nuevo. Y eso es cierto, en parte. El informe, sin embargo, es importante por dos razones. Primero porque presenta un análisis de nuestra economía y de la situación fiscal del gobierno libre de la propaganda oficial y de la crítica politiquera usual. Segundo, el informe es importante también por sus silencios, por lo que no dice.
Sobre nuestra situación económica el informe es claro: la economía se encuentra en un estado de depresión y no hay señales que apunten a una recuperación significativa (pág. 3). La actividad económica, según medida por el Índice de Actividad Económica del Banco Gubernamental de Fomento, aumentó algo a finales del 2012 pero recientemente se ha debilitado. Mientras, el empleo se ha reducido por 10% entre el 2006 y el 2010 y se ha mantenido estancado desde entonces (pág. 5).
El informe enfatiza la reducción de la población de la isla, que ha disminuido de 3.8 millones en el 2004 a 3.6 millones en el 2013, una reducción de 212,000 personas, o un 5.5%, durante ese periodo. Más aún, la proyección para el 2014 es que la población se reduzca por un 0.65% adicional, una de las contracciones más pronunciadas en el mundo (pág. 6).
Interesantemente, se le adjudica la reducción poblacional al aumento en la migración causado por la falta de oportunidades en el mercado laboral, pero se obvia mencionar la reducción en la tasa de fertilidad en Puerto Rico. De acuerdo con los datos del Departamento de Salud, la tasa de fertilidad en la isla es de 1.7 hijos por mujer, significativamente por debajo de la tasa necesaria para mantener la población al nivel de reemplazo. Parecería que la falta de esperanza en un futuro mejor ha convencido a muchos jóvenes que no vale la pena reproducir esta sociedad podrida.
En cuanto a la situación fiscal, el informe analiza los ingresos, gastos y endeudamiento (como porciento del PNB) del gobierno de Puerto Rico y los compara con los cincuenta estados, Washington D.C., y con una muestra de naciones independientes. De acuerdo con los autores, el perfil fiscal de Puerto Rico es significativamente diferente al de los estados y se asemeja más al de una nación independiente (pág. 19).
Los autores también señalan que la probabilidad de que la crisis de Puerto Rico tenga un efecto de contagio en los mercados financieros de Estados Unidos es baja ya que (1) muchos fondos mutuos no pueden aumentar su exposición al riesgo de Puerto Rico debido a la degradación y (2) las compañías aseguradoras, tales como Assured Guaranty y MBIA, han reducido su participación en el mercado municipal después de la crisis financiera del 2008 (págs. 22 y 23). El informe no dice nada sobre las pérdidas que han sufrido los inversionistas locales, dueños de aproximadamente 30% de la deuda de Puerto Rico.
El informe concluye con seis recomendaciones para lograr la sustentabilidad fiscal: (1) promover esfuerzos para aumentar el crecimiento económico; (2) reformar el sistema contributivo; (3) mejorar los informes financieros del gobierno; (4) fortalecer el desempeño de las corporaciones públicas; (5) implementar un presupuesto para gastos de capital y adoptar un presupuesto balanceado; y (6) establecer presupuestos multianuales.
Estas recomendaciones podrían parecer simplistas pero su implementación no es tan fácil como parece. Por ejemplo, tomemos la recomendación de aumentar el crecimiento económico. ¿Cómo se logra esto en un país que ha perdido gran parte de su acervo de capital doméstico debido a la crisis bancaria del 2010, una burbuja de bienes raíces, y el desplome de los precios de su deuda pública? ¿Cómo se crea una cultura de empresarismo cuando a tres generaciones de puertorriqueños se le ha metido en la cabeza que el mejor empleo es trabajar para una compañía farmacéutica? ¿Qué instituciones legales, políticas, económicas, sociales, y culturales tenemos que cambiar para crecer la economía de manera sustentable? El asunto no es tan sencillo como algunos obtusos analistas de radio se creen.
Lo que está claro es que no debemos esperar mucha ayuda del Fed de Nueva York ni de otras instituciones norteamericanas. En la página 3 nos dicen que “la isla enfrenta dos alternativas: o maneja su propio ajuste económico y pone al Estado Libre Asociado sobre una base fiscal segura o espera a que la migración y la disciplina del mercado fuerce un ajuste aún más doloroso”.
El Fed de Nueva York parece confirmar lo que Eduardo Lalo nos adelantó más elegantemente en su libro Los países invisibles (2008): la sociedad puertorriqueña “no está capacitada para ver lo que le ha ocurrido. Al menos son ya dos generaciones las que presuponen, como derecho natural, un nivel y un estilo de vida que las causas profundas de esta crisis no permitirán reproducir a largo plazo. Así, según sus preferencias políticas, la gran masa puertorriqueña, seguirá organizando sus negaciones de la realidad, a través de la imaginación de sus salvadores. La pobreza y la impotencia son el terreno mas fértil para el mesianismo y Puerto Rico ha pasado más de cinco siglos esperando que alguien lo salve a golpes, a patadas, a tiros. Y como la espera no culmina nunca se confunde la excitación que produce con la salvación que nunca llega.”
En suma, por décadas los puertorriqueños vivimos una ilusión monetaria que nos permitió consumir y tomar prestado a niveles más altos de lo que nuestra capacidad productiva podía sostener. Y, sencillamente, el día de ajustar cuentas ha llegado.
El autor es Director de Política Pública en el Centro para una Nueva Economía. Esta columna fue publicada originalmente en el diario El Nuevo Día el 10 de agosto de 2014.
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Commissioner's report on Puerto Rican bond funds anticipated shortly

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Commissioner's report on Puerto Rican bond funds anticipated shortly

August 7, 2014
NEW YORK, USA -- Rafael Blanco Latorre, commissioner of the Puerto Rico Office of the Financial Institutions, recently told Reuters that his office is winding up an investigation into whether Puerto Rican bond funds were unsuitable for the UBS clients who bought them.

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Caribbean tourism prepares for major change

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Puerto Rican economic development secretary highlights business opportunities for American Latinos

August 8, 2014
 SAN ANTONIO, USA -- Alberto Bacó Bagué, the secretary of Puerto Rico’s Department of Economic Development and Commerce (DDEC), closed a two-day American Latino National Summit on Wednesday by outlining the government’s plan for driving economic growth. The plan focuses on...

Commentary: No Caribbean appetite for a rum fight

August 8, 2014
 It is alarming that Barbados’ Ambassador to the United States, John Beale, has publicly stated that CARICOM (the 15-nation Caribbean Community) is “inactive” and needs to take a position on the issue of Caribbean rums being wiped-out of the US market. Inactivity is not in the interest of CARICOM...

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Tourism in Puerto Rico is stagnant

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NY-bound flight evacuated in PR

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NY-bound flight evacuated in PR
Issued: August 9, 2014
An engine fire forced evacuation of a New York-bound JetBlue flight before ...
The extension of Chapter 9 provisions governing the adjustment of municipal debt in Puerto Rico would be a “positive and important” developm ...
Obama offers no time limit on Iraq military action
Issued: August 9, 2014
WASHINGTON — President Barack Obama on Saturday refused to give a time limit on America's renewed military involvement in Iraq, saying h ...

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Puerto Rico declares epidemic as chikungunya virus ...

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Puerto Rico declares epidemic as chikungunya virus continues to spread unabated. ... EXCLUSIVE: Natural News tests flu vaccine for heavy metals, finds 25,000 times higher mercury level than EPA limit for water · Russia taking McDonald's to court, threatens countrywide shutdown ... Puerto Rico is only the latest country to fall prey to the disease, which has been sweeping the Caribbean since its arrival in late 2013. According to the Pan American Health ...

Unaccompanied 

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Powerful videos, images, and articles of undocumented and refugee children now in America are being generated as quickly as more children stream across our borders on a quest for family, safety, and a home. As Americans and, at our very core as...

BoriquaChicks.com Founders Talk Puerto Rican Cuisine and Afro-Latina Identity - Latin Post

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Latin Post

BoriquaChicks.com Founders Talk Puerto Rican Cuisine and Afro-Latina Identity
Latin Post
Raised by their Puerto Rico-born mother and African-American father in a bilingual household, Dailey-Wooley and Dailey-Parham enjoyed traditional Puerto Rican dishes (such as arroz con pollo, pasteles, carne guisada, tostones and plátanos maduros) and ...

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Puerto Rico: Financial Picture Very Bleak in Commonwealth

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Analysts recommended Puerto Rico shrink its underground economy, broaden its tax base, reduce rates, and strengthen and privatize some public corporations, which account for nearly 40% of the island's debt. They said the ...

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10/08/14 14:39 from Mike Nova's Shared Newslinks
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» Something very strange is happening in Miami
10/08/14 14:35 from Mike Nova's Shared Newslinks
mikenova shared this story from Salon.com. At the core of a global city, like London or New York, a local might look askance at the skyward hulls of new buildings, knowing that these residential projects, with striking designs by prize-w...
» JetBlue Flight Evacuated at Puerto Rico Airport - News 92 FM
10/08/14 14:30 from Mike Nova's Shared Newslinks
mikenova shared this story from puerto rican community in new york - Google Blog Search. iStock Editorial/Thinkstock(SAN JUAN, Puerto Rico ) -- Passengers suffered minor injuries Saturday after evacuating a New York -bound flight out of ...
» Fed says reviving PR economy is key to curbing ‘troubling’ population
10/08/14 14:30 from Mike Nova's Shared Newslinks
mikenova shared this story from Caribbean Business. Fed says reviving PR economy is key to curbing ‘troubling’ population loss Puerto Rico’s population has been falling for nearly a decade, and the pace of d ... Issued: August 10, 2014 T...
» Isn't the US Pot Thing Frustrating? Great Success, Popular Support and Ugly ... - San Diego Free Press
10/08/14 14:29 from Mike Nova's Shared Newslinks
mikenova shared this story from Geopolitical Aspects PR Political Status. San Diego Free Press Isn't the US Pot Thing Frustrating? Great Success, Popular Support and Ugly ... San Diego Free Press Those users are mostly black and Puerto R...
» Netherlands to scrap asylum hurdle for Russian gays
10/08/14 14:25 from Mike Nova's Shared Newslinks
mikenova shared this story from Video Wall Galleries. The Dutch government is to make it substantially easier for gay people in Russian to apply for political asylum in the Netherlands , warning that they still face “a high degree ...
» Cuba's dissident blogger launches the country's first independent news site
10/08/14 14:21 from Mike Nova's Shared Newslinks
mikenova shared this story . Enlarge Cuban blogger Yoani Sanchez takes a snapshot during a conference in Colombia on Jan. 31, 2014. (STR/AFP/Getty Images) Please support our site by enabling javascript to view ads. Dissident blogger Yoan...
» Heads on sticks: Sick ISIS video emerges showing 50 beheaded Syrian soldiers being impaled on poles and held aloft in Raqqa city
10/08/14 13:44 from Mike Nova's Shared Newslinks
mikenova shared this story from News | Mail Online. WARNING GRAPHIC CONTENT Islamic State fighters, formerly called ISIS, have attacked base for two days Ambush in Raqqa, northern Syria, ended in more than 50 executions Amateur video foo...
» A man is crucified by Islamic State militants - Google Search
10/08/14 13:39 from Mike Nova's Shared Newslinks
mikenova shared this story . Search Results News for A man is crucified by Islamic State militants Crucified By the Caliphate: Iraq Descends Into Apocalypse AINA ‎- 9 hours ago Savagery: A man is crucified in northern Syria by Isla...
» Crucified By the Caliphate: Iraq Descends Into Apocalypse
10/08/14 13:38 from Mike Nova's Shared Newslinks
mikenova shared this story from Assyrian International News Agency. They arrived bristling with heavy weapons and waving black flags from about a dozen Humvees, seized from the Iraqi army and supplied originally by the United States. Whe...
» Iraq descends into apocalypse as Islamic State fanatics seize towns
10/08/14 13:35 from Mike Nova's Shared Newslinks
mikenova shared this story from News | Mail Online. Mail on Sunday reporter Ian Birrell gives shocking despatch from Irbil Terrified residents see Islamic State (IS) jihadists capturing nearby towns Refugees speak of being offered sinist...
» Scientists may have cracked the giant Siberian crater mystery — and the news isn’t good
10/08/14 13:31 from Mike Nova's Shared Newslinks
mikenova shared this story . Researchers have long contended that the epicenter of global warming is also farthest from the reach of humanity. It’s in the barren landscapes of the frozen North, where red-cheeked children ...
» Russia’s blow to globalization - The Washington Post
10/08/14 13:28 from Mike Nova's Shared Newslinks
mikenova shared this story . Opinions Russia’s blow to globalization 249 More Cows are seen at a new dairy farm containing 960 animals on the day of its opening in the village of Petrovskoye in Leningrad region, on August 8, 2014. ...
» Russia’s quiet repression - The Washington Post
10/08/14 13:25 from Mike Nova's Shared Newslinks
mikenova shared this story . By Editorial Board August 9 at 4:28 PM WHILE MOST of the world watches Russian President Vladimir Putin as he fuels separatist forces in Ukraine and curtails imports of Western goods , his growing repression ...
» Putin Has Stumbled in Ukraine | Opinion
10/08/14 13:22 from Mike Nova's Shared Newslinks
mikenova shared this story . Fifteen years ago on Aug. 9, 1999, President Boris Yeltsin stunned Russia with his televised announcement of Vladimir Putin's appointment as prime minister, as well as his characterization of t...
» American aircraft conduct airstrikes on Iraqi militants
10/08/14 11:18 from Mike Nova's Shared Newslinks
mikenova shared this story . Smoke rises after airstrikes by the U.S. forces targeting Islamic State militants near the Khazer checkpoint outside the city of Irbil in northern Iraq, on Aug. 8, 2014. (Photo: Khalid Mohammed, AP) WASHINGTO...
» No cease-fire until rebels surrender
10/08/14 11:16 from Mike Nova's Shared Newslinks
mikenova shared this story . Doug Stanglin and Katharine Lackey, USA TODAY 8:57 a.m. EDT August 10, 2014 A woman cries while holding her newborn baby as she sits inside a bomb shelter in a maternity hospital during shelling in Donetsk on...
» Iraqi Minister: Islamic State Militants Killed at Least 500 Yazidis
10/08/14 11:10 from Mike Nova's Shared Newslinks
mikenova shared this story from Voice of America. Islamic State militants have killed at least 500 members of Iraq's Yazidi ethnic minority during their offensive in the north, Iraq's human rights minister told Reuters on Sunday. Mohamme...
» Plane crashes near Tehran's Mehrabad airport, killing dozens
10/08/14 11:10 from Mike Nova's Shared Newslinks
mikenova shared this story from Uploads by ITN. Plane crashes near Tehran's Mehrabad airport, killing dozens A plane bound for Tabas in northeast Iran has crashed after taking off from Tehran's Mehrabad airport, leaving at least 38 dead....
» France Ready to Join Effort to Save Yazidis - Wall Street Journal
10/08/14 11:10 from Mike Nova's Shared Newslinks
mikenova shared this story from World - Google News. Wall Street Journal France Ready to Join Effort to Save Yazidis Wall Street Journal Iraqi Kurdish Peshmerga fighters on the front line in Makhmur, about 280 kilometres (175 miles) nort...

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