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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
6/30/2015 10:44:08 AM

Puerto Rico governor says island can't pay its public debt

Puerto Rico governor warns island can't pay $72B public debt, report released on economy



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SAN JUAN, Puerto Rico (AP) -- The governor warned that Puerto Rico can't pay its $72 billion public debt as international economists released a critical report Monday on the island's economy.

The news from Gov. Alejandro Garcia Padilla delivered another jolt to the recession-gripped U.S. island, as well as a world financial system already worrying over Greece's collapsing finances.

Garcia is scheduled to air a pre-recorded televised address late Monday afternoon as legislators continue to debate a $9.8 billion budget that calls for $674 million in cuts and sets aside $1.5 billion to help pay off the debt. The budget has to be approved by Tuesday.

The governor hopes to defer debt payments while negotiating with creditors, spokesman Jesus Manuel Ortiz said late Sunday, confirming comments by Garcia that appeared in a report in The New York Times published that evening.

"There is no other option. I would love to have an easier option. This is not politics, this is math," Garcia is quoted as saying in the Times.

Puerto Rico's bonds were popular with U.S. mutual funds because they were tax-free, but hedge funds and distressed-debt buyers began stepping in to buy up debt as the island's economy worsened and its credit rating dropped.

Garcia's comments will likely not have much impact on Wall Street, said economist Jose Villamil, a former U.N. consultant and CEO of an economic and planning consulting firm.

"The markets are clear that Puerto Rico is heading to a direction of a restructuring or default," said the economist, adding that a voluntary restructuring by bondholders might be the best option.

"The last four administrations have kicked the can down the road," said Villamil. "At this point, there is no more can to kick. So we're going to take some very strict measures and some very profound measures. It's going to hurt, but there's no way out."

A report released Monday by a former World Bank chief economist and others found that Puerto Rico's fiscal debt is larger than originally thought and urged the government to act quickly.

"This is a daunting agenda politically, legally and organizationally. It is also an urgent one: The government's cash balances can evaporate in the face of delays, reducing the room for maneuver and intensifying the crisis," the report stated.

The economists praised Garcia's administration for taking action on higher taxes, pension reforms, spending cuts and freezes, but they also noted that anticipated revenue projections systematically exceed collections, and that policy failures have in part caused Puerto Rico to be cut off from market access.

"Growth has not just been low, but output has actually been contracting for almost a decade now, which is remarkable for an economy suffering neither civil strife nor overt financial crisis," the report stated.

Some legislators were taken aback by Garcia's comments to the newspaper, including Rep. Jenniffer Gonzalez, spokeswoman for the main opposition party.

"I think it's irresponsible," Gonzalez said. "He met privately with The New York Times last week, but he hasn't met with the leaders of this island."

Puerto Rico's constitution dictates that the debt has to be paid before any other financial obligation is met. If Garcia seeks to not pay the debt at all, it will require a referendum and a vote on a constitutional amendment, she said in a phone interview.

The U.S. territory's situation has drawn comparisons to Greece, where the government decreed this weekend that banks would be shuttered for six business days and restrictions imposed on cash withdrawals. Greece's five-year financial crisis has sparked questions about its continued membership in the 19-nation shared euro currency and the European Union.

Garcia recently confirmed that he had considered having the Puerto Rico government seek permission from the U.S. Congress to declare bankruptcy amid a nearly decade-long economic slump. His administration is currently pushing for the right for Puerto Rico's public agencies to file for bankruptcy under Chapter 9. Neither the agencies nor the island's government can file for bankruptcy under current U.S. rules.

The U.S. Congress is in recess this week for the July 4 holiday, and the island's economic woes have not been an issue for lawmakers as they rushed to complete a high-profile trade bill, annual spending measures and other legislation before their break.

Puerto Rico's public agencies owe a large portion of the debt, with the power company alone owing some $9 billion. The company is facing a restructuring as the government continues to negotiate with creditors as the deadline for a roughly $400 million payment nears.

Garcia has taken several measures to help generate more government revenue, including signing legislation raising the sales tax to 11.5 percent and creating a 4 percent tax on professional services. The sales tax increase goes into effect Wednesday and the new services tax on Oct. 1, to be followed by a transition to a value-added tax by April 1.

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
6/30/2015 10:55:38 AM

Cigarettes or spark suspected in Taiwan fire that burned 498

Associated Press

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Raw: Video Captures Fire at Taiwan Water Park

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TAIPEI, Taiwan (AP) — Investigators in Taiwan were focusing Monday on the possibility that a cigarette butt or spark caused the blaze that burned 498 people, killing one, at a weekend water park party when colored powder sprayed from the stage caught fire.

More than 400 people remained hospitalized, including 202 in serious condition, city officials said. A 20-year-old woman with burns to 90 percent of her body died after being taken off life support with her family's consent, said a hospital spokeswoman, who spoke anonymously because she wasn't authorized to speak publicly.

Taiwan's Central News Agency said her 12-year-old brother also had burns on 90 percent of his body.

Police recommended criminal charges against the organizer of Saturday's party, as well as two technicians, at the Formosa Fun Coast park in suburban Taipei.

"It's still not clear what happened, but there were a number of people smoking and the weather was warm," New Taipei City news department head Lin Chieh-yu said. Temperatures around greater Taipei topped 36 degrees Celsius (96.8 F) before the party.

The three tons of colored starch-based powder bought by the organizers from Tai Won, a seller in the island's southern county of Yunlin, were flammable, said Chou Hui-fang, a representative of the seller. She said the buyer was informed about the risk of fire.

"Whether it's corn starch or flour starch, this kind of stuff, no matter how long it's been around, if it's in dense quantities and if it's hot, it can catch fire," Chou said. She said her 4-year-old company has been questioned by police and health officials but was not considered at fault.

"We didn't know what the buyers were going to do with it or how much they would use," she said. "It might have been supplies for a whole year."

Taiwan Premier Mao Chi-kuo banned use of the powder at future private events. Colored powder is often thrown on revelers during the annual Holi celebrations in India and Nepal, a Hindu festival. The powder at Saturday's party was made in Taiwan, Chou said.

The water park was ordered to close after the fire.

Taiwan police recommended charges of professional neglect and public endangerment for party organizer Lu Chung-chi, who was arrested but released on bail of 1 million Taiwan dollars (US$32,000) and restricted from leaving the island, a New Taipei City police spokesman said.

Local media photos showed Lu kneeling on the ground to apologize, pledging to take full responsibility.

Police also recommended charges for the stage hardware technician and the person responsible for shooting off the powder. Each was given bail of 300,000 Taiwan dollars. Officers questioned two others involved in the event but did not recommend charges, said Yan Bo-jen, news liaison for the local police precinct.

Taiwan university student Liang Sheng-kai said flaming powder hit his legs, apparently catching fire after it was sprayed from a concert stage into the front row where he was standing.

With the park's water features several hundred meters (yards) away, too far to douse the fire or ease burns, people screamed and panicked to find exits as balls of fire surged from the ground, he said. He said the right and left sides of the stage were blocked.

"It was very messy and a lot of people fell over or got knocked down," said Liang, 20, who is being treated for his burns in a Taipei hospital.

Five victims were from Hong Kong, two from mainland China and one each from Japan, Malaysia and Singapore. Authorities were still checking on the nationalities of three other foreigners. More than 200 were students, Central News Agency said.

Hong Kong is reviewing venues and other factors before it gives licenses to two local events similar to the water park party, Secretary Ko Wing-man said.

A total of 498 people were injured by the fire, according to the latest statement from the city government's health department. It said 202 were badly injured, 236 lightly or moderately injured, and 60 others were unclassified.

___

Associated Press writers Kelvin Chan in Hong Kong and Christopher Bodeen in Beijing contributed to this report.



Police recommended criminal charges against the organizer and technicians of a water park party in Taiwan.
Woman taken off life support



"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
6/30/2015 11:03:58 AM

String of Fires at 6 Predominantly Black Churches Scrutinized

ABC News


String of Fires at 6 Predominantly Black Churches Scrutinized (ABC News)


A string of churches with predominantly black congregations – from Florida to Tennessee -- has reported fires in the past week, officials say.

The circumstances surrounding the six fires in five states differ in each case, but their occurring in the past eight days has prompted closer scrutiny.

So far only two of the six cases are being investigated as arson, and federal authorities have not launched any officialhate crime investigations.

Charleston Church Pastor Remembered After VP Biden Visit

Charlotte Church Fire Was Arson, But No Hate Crimes Investigation 'At This Time,' FBI Says

Arson was a notable problem for black churches in the mid-1990s and prompted then-President Bill Clinton to push for the creation of the Church Arson Prevention Act in 1996, though a related U.S.Department of Justice task force was suspended at the end of his second term.

This week's fires come amid a tense time in some Southern cities after a shooting by an alleged racist at a historic black church in Charleston, South Carolina, left nine dead. The result has been a push for the removal of the Confederate flag from several state Capitols amid reignited debates over the region's racial history.

A senior official from the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives said they have special agents, certified fire investigators, looking into the different fires.

"At this time, ATF has not determined the fires are related. We are still determining origin and cause so we cannot say all are arson," the official told ABC News.

The ATF is also reportedly checking the fires against its Bomb Arson Tracking System to see whether there are any commonalities among the fires.

Mark Potok, a senior fellow at the Southern Poverty Law Center in Montgomery, Alabama, a hate group-monitoring organization, said only three of the six fires appear to be true cases of arson. And while those three -- in Tennessee, Georgia and North Carolina -- may have been intentionally set, he said he believes it's unlikely they were done in an organized and unified fashion.

"I think it's very unlikely,in terms of a conspiracy," he told ABC News.

"It's entirely possible, perhaps even likely, that some of these churches were attacked because of all that's happened in the past three weeks," Potok said in reference to the debate over the continued use of the Confederate battle flag.

The first fire was reported at the College Hill Seventh Day Adventist Church in Knoxville, Tennessee, on Sunday, June 21. Stacks of hay and soil were placed against the church's metal doors and set on fire, according to ABC affiliate WATE-TV.

"I see this and I think of an intention to try to destroy this entire church," Pastor Cleveland Hobdy III told WATE.

Knoxville Police Department spokesman Darrell DeBusk told WATE that it has been deemed an incident of vandalism and not a hate crime because, in most hate crime cases, the suspect leaves a message or indication of the reason behind the attack and no such mention was found in this case.

The second church was in Georgia two days later, and Macon Bibb County Fire Chief Marvin Riggins told station WMAZ that it was suspicious and is being investigated as an arson.

Fruitland Presbyterian Church in Gibson County, Tennessee, was also set on fire that same day and officials have not released any updates about the investigation, nor did they immediately return ABC News' calls. Fire Chief Bryan Cathey told ABC affiliate WBBJ-TV that there were some questions about whether it was an accidental fire because residents recalled there being several lightning strikes in the area around the time of the fire.

The fourth fire burned down a portion of the Briar Creek Road Baptist Church in east Charlotte, North Carolina, in the early morning hours of June 24, and investigators immediately classified it as arson.

"We completed our work on the scene and determined this was intentionally set," Charlotte Fire Department senior investigator David Williams told The Associated Press of the $250,000 worth of damage.

The investigations into the final two churches that reported fires Friday June 26 are still underway and their respective cause has not yet been determined. Both the state law enforcement agency and the FBI are looking into the Glover Grove Missionary Baptist Church fire in Warrenville, South Carolina, according to the AP.

Further south, the state fire agency is also looking into the blaze at Greater Miracle Temple in Tallahassee, Florida, that caused an estimated $700,000 in damage early Friday morning, according to the Tallahassee Democrat.

No injuries were reported at any of the fires.

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
6/30/2015 11:12:35 AM

'Mind blowing' flames destroy homes in Washington state

By DONNA BLANKINSHIP2 hours ago

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Massive Fire Threatens Washington State Homes

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WENATCHEE, Wash. (AP) — From just across the Wenatchee River, Dominick Bonny watched a whole neighborhood in his central Washington town burn as a wildfire destroyed two dozen homes and forced hundreds to flee.

"With the wind blowing away from us, it was like we were watching a natural disaster within arm's reach," he said.

Wildfires hit parts of central and eastern Washington over the weekend as the state is struggling with a severe drought. Mountain snowpack is at extremely low levels, and about one-fifth of the state's rivers and streams are at record low levels.

Eastern Washington has been experiencing temperatures into the 100s, and last week Washington Gov. Jay Inslee issued an emergency proclamation that allows state resources to quickly be brought in to respond to wildfires.

Washington's struggles with wildfires come as Alaska, its fellow Pacific Northwest state, is facing more and harsher wildfires this year.

In Wenatchee, the wildfire fueled by high temperatures and strong winds roared into town Sunday afternoon. The blaze ignited in brush just outside Wenatchee, quickly burning out of control about 120 miles east of Seattle.

Rainfall on Monday provided some relief, but hot, dry conditions and wind posed continuing challenges. The flames have burned more than an estimated 4 square miles, officials said. Three firefighters suffered minor injuries, but no injuries to residents were reported.

Fire crews concentrated Monday on preventing any more homes from being burned, State Patrol Trooper Brian Moore said. Crews worked to put out hot spots in already burned areas.

Elsewhere in central Washington, a new wildfire was reported burning late Monday south of the small town of Mansfield, about 40 miles northeast of Wenatchee. The state Emergency Management agency authorized state assistance to fight that fire, which reportedly has burned more than 3 square miles. There were no reports of any homes being threatened.

Tom Bryant surveyed the smoldering ruins of his home in the hills above Wenatchee and said he and his wife had to race out of the house at the last minute as the fire advanced Sunday night.

On Monday, he pointed to a Mustang sports car that was a burned wreck and to his BMW motorcycle that was destroyed in the garage.

"It's going to be tough to replace," Bryant said. "It hurts, but it's just stuff. It's painful."

He was unable to save photographs and important documents, Bryant said. "That's where all our stuff is," he said, pointing to a burned file cabinet.

Evacuations were mainly in the north end of town and included a Wal-Mart store, the Chelan County Emergency Management office said. The store did not burn, but several commercial buildings were near the blaze, Washington State Patrol Trooper Darren Wright said.

Emergency management officials late Monday morning also briefly issued a shelter-in-place order after ammonia started leaking from a fruit warehouse. They later said it had dissipated and was no longer a threat.

The Blue Bird warehouse, which uses ammonia for cold-storage, was among a few commercial buildings to burn.

Bonny, who lives just outside Wenatchee, called the speed of the blaze "just mind-blowing."

Phil Bentz, who lives on the same side of the river as the fire, said his home hadn't been evacuated. "We were waiting for someone to knock on the door, but they didn't come. So far, so good," Bentz said.

About noon Monday, fire trucks poured water on a burning warehouse in downtown Wenatchee, sending big black clouds into the air over the city. Farther north of town, scorched hillsides showed where the flames were stopped just short of irrigated apple orchards and residential subdivisions.

Officials know the fire started in brush on the edge of town, but they are still trying to determine what sparked it. Sweltering heat above 100 degrees, tinder-dry brush and strong winds helped fuel it.

Last month, Inslee declared a statewide drought emergency.

State Lands Commissioner Peter Goldmark has banned all outdoor fires on state land protected by the Natural Resources department, and campfires have been banned at state parks and on state-controlled ocean beaches.

Hilda Emerson, 37, was among the people who fled the flames Sunday.

"I went and grabbed what I could — my computers, irreplaceable stuff, toys for my daughter — and I left," she said. "I never had to do this before."

She and her 4-year-old daughter, Nissa, spent the night on cots set up by the Red Cross in the gymnasium of Eastmont High School in East Wenatchee.

___

Associated Press writers Bob Seavey and Courtney Bonnell in Phoenix and Chris Grygiel and Gene Johnson in Seattle contributed to this report.


"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
6/30/2015 11:24:13 AM

Fire chief says blaze destroys historic stadium in Oregon

Associated Press

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EUGENE, Ore. (AP) — A spectacular fire destroyed Eugene's historic Civic Stadium on Monday evening and prompted the temporary evacuation of a two-block area, the fire chief said.

Fire crews found flames shooting twice the height of the structure when they were called to the stadium at about 5:30 p.m., police spokesman John Hankemeier said. Smoke was visible throughout the city, which is about 100 miles south of Portland.

The stadium's dry, seasoned lumber caused the blaze to spread quickly, Eugene-Springfield Fire Chief Randy Groves said after the fire was controlled at about 7 p.m.

He said the cause is under investigation. No one was hurt.

The stadium was approved by voters in 1938 during the Great Depression and opened that same year. Labor was provided by the Works Progress Administration, and materials were donated by lumbermen in the area. The Eugene Emeralds, a minor league team, had been a long-time tenant, but vacated in 2009.

A nonprofit group of community activists bought it in April, with plans to eventually build a soccer field and a park on the property.

"We're really heartbroken," said Derek Johnson, co-founder of the Eugene Civic Alliance, which worked for years to secure the stadium from the city of Eugene. "It's a hard day.

"When I first heard, I was desperately hoping that something could be saved of the stadium," he told The Register-Guard newspaper (http://is.gd/MxoQmT). "It's a magnificent structure but it was wood, and that was one of the parts of it that was really beautiful. But that wood ... that's an impermanent structure."

One spectator said he saw the fire start.

"I looked over and there was a small fire, just a couple feet wide, inside the press box, about 20 to 30 feet up from home plate," said Danny Sales, South Eugene High's head baseball coach.

Sales said he immediately called 911.

"And by the time I got off the phone with the operator, the whole stadium was on fire," he said.

___

Information from: The Register-Guard, http://www.registerguard.com


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