Posted on 05/03/2017 8:17:57 AM PDT by cll
I believe first blood was Vallejo, CA.
Could be Socialist Republicans or Socialist Democrats.
Or the Judean Peoples' Front!
I have family from Cali who keep telling me that California would be just fine if they didn’t have to support the “deadbeat” other states.
I point out that Cali is about to go bankrupt, and they get rather upset.
The current population is ~3.6M. That translates to about $17,500 per resident not including the pension liability. Third graders could tell you that these bonds could not be repaid since GDP in Puerto Rico averaged $38.51B until 2015 when it magically raised to $103B. Let’s see, 40+70=110-7 for graft; 103—the Magic Number!
This bailout needs to be stopped—the hedge funds and mutual funds who bought these munis deserve to lose every damn penny.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.