Article

2015-06-30 Economy

Governor: Puerto Rico near 'death spiral'

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Posted by Fred 2015-06-30 00:00|| || Front Page|| [11132 views ] Top

#1 And no one got anything for your debt. Just like Greece.
You are black holes in the world.
What do you plan to do about YOUR state spending?

Posted by newc 2015-06-30 00:23|| 2015-06-30 00:23|| Front Page Top

#2 Nobody could have predicted this.

Posted by Anguper Hupomosing9418 2015-06-30 00:41|| 2015-06-30 00:41|| Front Page Top

#3 Near?

Posted by DarthVader 2015-06-30 01:47|| 2015-06-30 01:47|| Front Page Top

#4 Greek model? Independence from the running dog capitalists?

Posted by Procopius2k 2015-06-30 08:40|| 2015-06-30 08:40|| Front Page Top

#5 PR bond holders were getting something like 10% tax-free interest according to one report I read; for rates like that you know you're assuming a lot of risk (they're on the order of 100 times money market rates.) Default, without bailout: it's the only way to teach the needed lesson about investment risk.

Posted by Glenmore 2015-06-30 10:20|| 2015-06-30 10:20|| Front Page Top

#6 Repeat of the State of Franklin only lasted more than Franklin's four years. Also never switched to a corn liqueur based currency... although they do have rum.

Posted by 3dc 2015-06-30 10:32|| 2015-06-30 10:32|| Front Page Top

#7 $73B?!?! WTF?!?! How many votes did that buy?

Posted by gorb 2015-06-30 13:25|| 2015-06-30 13:25|| Front Page Top

#8 Too bad that Roosevelt Roads resort plan never turned out, eh guv'nor?

Posted by Pappy 2015-06-30 14:50|| 2015-06-30 14:50|| Front Page Top

#9 Is this the end of Rico?
https://www.youtube.com/watch?v=FEiOjH0v0oM

Posted by European Conservative 2015-06-30 19:16|| 2015-06-30 19:16|| Front Page Top

#10 See also YAHOO NEWS > [AP] WHITE HOUSE: NO FEDERAL BAILOUT OF PUERTO RICO.

The Bammer Admin prefers the PR Govt. formally declare bankruptcy - IMO such a move will put PR under Federal + UNO/IMF REceivership, including possible Martial Law = Military-run Govt???

As per FREEREPUBLIC, any formal PR bankruptcy may have serious effect on FLORIDA's economy + PR Community.

Posted by JosephMendiola 2015-06-30 19:35|| 2015-06-30 19:35|| Front Page Top

#11 Puerto Rico is treated like a state for bankruptcy purposes. Which means Puerto Rico can't declare bankruptcy.

Al

Posted by frozen al 2015-06-30 20:08|| 2015-06-30 20:08|| Front Page Top

#12 De latest ...

* BLOOMBERG > PUERTO RICO CISIS SPURS US CONGRESS TO ADVANCE CHAPTER 9 [Bankruptcy] BILL, to allow the Commonwealth-Territory to go into formal bankruptcy.

* BIGNEWSNETWORK > [Market Watch] PUERTO RICO MAY PROVE TO BIGGEST THREAT TO US INVESTORS THAN GREECE CRISIS [Default].

versus

* As per CNN AM, the US + Uncle Fidel's Cuba will reopen embassies.

Posted by JosephMendiola 2015-06-30 22:11|| 2015-06-30 22:11|| Front Page Top

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