Argentina’s Alberto Fernandez Has Olive Branch Coffee Meeting With Macri

Argentina’s Alberto Fernandez Has Olive Branch Coffee Meeting With Macri(Bloomberg) -- Alberto Fernandez doesn’t take over as Argentine president until Dec. 10, but how he interacts with outgoing leader Mauricio Macri in the meantime is key to an economy in turmoil. On Monday at least the two men were talking.Fernandez arrived at the presidential palace in downtown Buenos Aires without any staff, save for a spokesman. Television networks showed pictures of the men, both in suits, shaking hands before sitting in armchairs facing each other. They met for about an hour over coffee.Later on Fernandez smiled and waved as he entered a car to leave, but he did not comment.Even that is a start for what could be a tricky transition period from a market-friendly leader who tried to enact fiscal discipline, to a left-leaning populist who has promised to increase spending for a public tired of the high cost of living and lack of strong public services.Fernandez told Macri during the meeting that he will provide details of a team to work with the Macri administration through Dec. 10, a person familiar with their discussion said. Fernandez didn’t mention anyone specific and he did not hand over a list of names, the person said. Fernandez’s adviser Santiago Cafiero will coordinate the transition team, they added.Argentine Bonds Fall After Fernandez Wins Presidential VoteMacri has been grappling with a contracting economy, high inflation, a sliding currency and a tricky debt negotiation with the International Monetary Fund. The economy could be in even worse shape by the time Fernandez takes office, so statements of intent to work together in the interim could reassure markets, investors and the public alike.A surprisingly strong win by Fernandez in a primary vote in August spooked markets, with the currency slide that followed forcing Macri to enact capital controls. In the early hours of Monday after Macri conceded the election, Fernandez was giving little away.“Hopefully those who were our opponents during these four years are conscious of what they’re leaving behind and help us rebuild the country from the ashes,” he told supporters at his campaign bunker.Fernandez Wins in Argentina as Voters Rebuff Macri’s AusterityAnalysts argue Fernandez may need to moderate his rhetoric after Macri’s coalition fared better than expected in congressional races, setting the stage for potential gridlock.“That implies greater limitations for Alberto Fernandez’s future government,” said Camila Perochena, a political science professor at University of Torcuato Di Tella in Buenos Aires. “The need to reach consensus with the opposition is becoming more evident.”Investors are waiting for Fernandez to unveil his economic team and further clues to his policy direction. His team ranges from traditional economists to unorthodox policy makers. It’s unclear how Fernandez will renegotiate Argentina’s $56 billion credit line with the IMF, a deal that’s currently suspended due to policy uncertainty.“Alberto Fernandez will have little time to find the formula for an economic turnaround,” said Nicolas Solari, director of polling firm Real Time Data. “The coalition he’s bringing to the presidency is just as broad as it is unstable.”For his part, Macri’s government moved quickly overnight to limit the market fallout from his loss, significantly tightening capital controls to stabilize the peso. Argentines can only buy $200 in greenbacks per month, sharply down from the previous ceiling put in place Sept. 1 of $10,000. Before then, dollar purchases were unlimited.Argentina’s Election and Currency Controls: All You Need to KnowThe Argentine peso gained 0.8% on Monday after the controls. Bonds declined, with spreads between U.S. Treasury notes widening 98 basis points to the highest in nearly two months. Stocks also declined with a benchmark U.S.-listed ETF falling 2.4%. A key question will be how Fernandez interacts with his powerful deputy, former president Cristina Fernandez de Kirchner. She was president from 2007 to 2015 and handed Macri an economy damaged by years of Peronism -- an anti-elite political movement that traditionally favors workers over business owners.Some noted Fernandez’s left-leaning remarks in his victory speech, in particular expressing support for former Brazilian President Luiz Inacio Lula Da Silva, who is in jail. He also plans to travel soon to Mexico to meet its left-wing president, Andres Manuel Lopez Obrador.“We’ll have to see the tone of Fernandez’s administration to find consensus,” said Juan Germano, director of Argentina polling firm Isonomia. “The last four years showed there was no consensus between Kirchner’s and Macri’s parties, but with this election result, both sides have more incentives to reach consensus.”(Adds stocks trading in 14th paragraph. A previous version of the story corrected the exchange rate.)To contact the reporters on this story: Patrick Gillespie in Buenos Aires at pgillespie29@bloomberg.net;Jorgelina do Rosario in Buenos Aires at jdorosario@bloomberg.netTo contact the editors responsible for this story: Juan Pablo Spinetto at jspinetto@bloomberg.net, Rosalind MathiesonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.




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Australian sentenced to 36 years for murder, rape of Israeli

Australian sentenced to 36 years for murder, rape of IsraeliAn Australian judge sentenced a man to 36 years in prison on Tuesday for the murder and rape of an Israeli student whom he bludgeoned into unconsciousness moments after she stepped off a tram in Melbourne before setting her corpse on fire. Victoria state Supreme Court Justice Elizabeth Hollingworth ordered Codey Herrmann, 21, to serve at least 30 years behind bars for his crimes against 21-year-old Aiia Maasarwe last January. The judge said she would have sentenced Herrmann to 40 years in prison with 35 years to be served before he became eligible for parole if he had not pleaded guilty in the face of an overwhelming prosecution case.




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Here's What California's Kincade Wildfire Looks Like From Space

Here's What California's Kincade Wildfire Looks Like From SpaceThe Bay-area's Kincade wildfire has grown so large that a satellite can record the plumes from 23,000 miles away in space.




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Correction: Puerto Rico-Cruise Ship Death story

Correction: Puerto Rico-Cruise Ship Death storyIn a story Oct. 28 about charges brought in a cruise ship death, The Associated Press reported erroneously that a child who died was 2 and the man's niece. SAN JUAN, Puerto Rico (AP) — A man who police say dropped his young granddaughter from the 11th floor of a cruise ship docked in Puerto Rico in July has been accused of negligent homicide.




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Is Trump trying to unleash the Border Patrol on all of America?

Is Trump trying to unleash the Border Patrol on all of America?Two in three Americans live in the "border zone," a 100-mile stretch inland where some constitutional due process and privacy protections are functionally canceled in the name of border security. The zone includes entire states -- Delaware, Florida, Hawaii, nearly all of New England, and all but a tiny sliver of Michigan -- as well as about three in four of our 20 largest metro areas. Is the Trump administration trying to make it bigger?The prospect seems obviously attractive to immigration hawks like White House senior adviser Stephen Miller, known to be the president's chief influence on border policy. Yet the possible suggestion of interest in expanding the border zone comes not from Miller but acting Commissioner of U.S. Customs and Border Protection (CBP) Mark Morgan, who joined President Trump on stage at a law enforcement conference in Chicago this week."We will be building 450 miles of big, beautiful wall by the end of 2020," Morgan said, implausibly. "With every mile of wall that's being built, I promise you, it's not just the cities and towns on the border. I always say: Every town, every city, every state is a border town, a border city, and border state."Is that just a figure of speech? Because it's blatantly untrue -- unless the border zone goes national.My suspicion here may seem unfounded, and I hope it is. But I think there are two good reasons to be wary.The first is the nature of the border zone, which too few Americans realize exists. The Fourth Amendment protects our right "to be secure in [our] persons, houses, papers, and effects, against unreasonable searches and seizures" and requires specific probable cause before search warrants are issued. But at the border, CBP agents are allowed to conduct searches of bags and vehicles without meeting those requirements. And in 1953, the Justice Department issued a regulation saying these relaxed rules apply within a "reasonable distance" from the actual border, a term the DOJ defined as 100 miles.The 100-mile decision was made by unelected administrators. It wasn't open to public input, nor was it determined by our representatives in Congress. Nevertheless, the Supreme Court upheld the rule in 1976 in U.S. v Martinez-Fuerte, where the 7-2 majority wrote that usually law enforcement must have "individualized suspicion" to breach someone's privacy, but as long as the Border Patrol checkpoints are "reasonably located" (i.e. within the 100-mile range), agents can stop, search, and question motorists without any particular cause.As the minority opinion noted, there's "no principle in the jurisprudence of fundamental rights which permits constitutional limitations to be dispensed with merely because they cannot be conveniently satisfied." The fact that CBP agents typically won't be able to establish probable cause by looking at a moving vehicle should not mean they get to ignore the Constitution. That's not how rights work, and this "papers, please" style of law enforcement is fundamentally un-American.Yet even if you agree with the theory of the 100-mile rule, the practice is a disaster and sees CBP authority expanded well past what Martinez-Fuerte permitted. As Cato Institute scholar and former CIA analyst Patrick Eddington has detailed, CBP agents "elect to ignore the court's admonition in the Martinez-Fuerte ruling that 'any further detention ... must be based on consent or probable cause.'" They've "used violence to remove motorists from their vehicles when they decline to answer questions after asserting their rights;" expanded their searches to planes, buses, and trains; and used the checkpoints in service to the wars on drugs and terror. (No terrorists have ever been arrested this way.)The upshot, as the ACLU has reported in its extensive coverage of the border zone, is CBP "agents are stopping, interrogating, and searching Americans on an everyday basis with absolutely no suspicion of wrongdoing, and often in ways that our Constitution does not permit." And in the years since the 100-mile rule was created, Border Patrol agents have grown from a force of 1,100 to around 21,000, with an estimated 170 permanent "interior checkpoints." What may have been relatively innocuous at the start is now a major problem.That brings us to the second reason to be worried by Morgan's remark: The border zone as it exists today was implemented with remarkably little pushback. The Border Zone Reasonableness Restoration Act of 2019 would reduce the zone to 25 miles, but that would still include most major cities in the current designation -- and it has no legislative traction anyway.If neither Congress nor the Supreme Court objects to this status quo, why would we expect them to object to extending the border zone to include the final third of the population? If it's fine to have CBP infringing around 200 million people's Fourth Amendment rights, what's another 100 million?It's not true that every town, every city, every state is a border town, a border city, and border state. The unchallenged corruption of the border zone gives us good cause to be leery of any talk that suggests they are.




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Ivan Milat, who killed backpackers, dies in Australia prison

Ivan Milat, who killed backpackers, dies in Australia prisonIvan Milat, whose grisly serial killings of seven European and Australian backpackers horrified Australia in the early '90s, died in a Sydney prison on Sunday, ending hopes of a deathbed confession to more unsolved slayings. Milat died in Long Bay Prison where authorities sent him from a hospital last week to ensure he ended his days behind bars, officials said. Milat was convicted of murder in the deaths of three German, two British, and two Australian backpackers after giving them rides while they were hitchhiking.




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Michelle Obama on white flight: 'Y'all were running from us'

The former US first lady says race and lack of understanding of migrants still divides the US and world.

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Rugby World Cup: England fined for crossing halfway line before New Zealand match

England are fined a four-figure sum for crossing the halfway line as they lined up in a V formation to face the haka before their Rugby World Cup semi-final match against New Zealand.

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Postcards from a poisoned coast: Vietnam's people-smuggling heartland

Postcards from a poisoned coast: Vietnam's people-smuggling heartlandThe countryside in the Vietnamese provinces of Nghe An and Ha Tinh is dotted with billboards for labor export companies advertising jobs or study overseas. Many are feared to be Vietnamese from Nghe An and Ha Tinh, rice-growing areas in the northern-central part of the country. Poor job prospects, encouragement by authorities, smuggling gangs, environmental disaster and government pressure on Catholics are all local factors behind the wave of migrants.




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Anomalies in Trump situation room photo spark online conspiracy theories it was staged

Anomalies in Trump situation room photo spark online conspiracy theories it was stagedIn 2011, 10 years after the terrorist attacks in New York which destroyed the twin towers of the World Trade Centre, the architect of the hijackings, Osama bin Laden, was killed by US special forces in a raid in Pakistan.The US Navy Seals carrying out the raid relayed live footage to the White House, and a photograph of president Barack Obama alongside his national security team witnessing the operation was used on the front pages of newspapers around the world.




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Texas police officer shot his own son, thinking he was a home intruder, police say

Texas police officer shot his own son, thinking he was a home intruder, police sayThe incident occurred Saturday evening when the off-duty Dallas police officer returned home and thought someone might be inside, DeSoto police said.




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Florida now has 4 of the top 10 American cities where home prices are plummeting the most

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