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Puerto Rico's Crushing Debt Is Unpayable – And The Fallout Will Hit Florida
WLRN ^
| 6/30/15
| Tim Padgett
Posted on 06/30/2015 12:36:02 PM PDT by Kartographer
click here to read article
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To: Kartographer
Maybe it’s time to make it legal to declare Chapter 9 bankruptcy and start all over again. They may just do that with the City of Chicago pension fund soon.
21
posted on
06/30/2015 1:31:29 PM PDT
by
RayChuang88
(FairTax: America's economic cure)
To: Kartographer
I say we just flip the Island over and start over! ;-)
Is that you Hank?
22
posted on
06/30/2015 1:37:18 PM PDT
by
762X51
To: Kartographer
73 billion dollars with a population of 3.7 million is some pretty impressive spending.
23
posted on
06/30/2015 1:38:03 PM PDT
by
Covenantor
("Men are ruled...by liars who refuse them news, and by fools who cannot govern." Chesterton)
To: Sooth2222
Puerto Rico can not print money. They can become a State very easily. Until now they haven't been to keen on the idea of paying taxes but now they may see the benefit. Two new Dem Senators what is not to like.
24
posted on
06/30/2015 1:51:08 PM PDT
by
itsahoot
(55 years a republican-Now Independent. Will write in Sarah Palin, no matter who runs. RIH-GOP)
To: Kartographer
Watch what happens to Puerto Rico’s debt problem, it’s going to be the RAT’S solution to the debts they have run up in the cities, counties and states that they control.
25
posted on
06/30/2015 1:51:55 PM PDT
by
fella
("As it was before Noah so shall it be again,")
To: Popman
1/3 on disability?
Where is 60 minutes doing a fraud expose?
26
posted on
06/30/2015 2:07:38 PM PDT
by
BenLurkin
(The above is not a statement of fact. It is either satire or opinion. Or both.)
To: Kartographer
Let's give it back to Spain/the EU. ; )
27
posted on
06/30/2015 2:11:59 PM PDT
by
Chgogal
(Obama "hung the SEALs out to dry, basically exposed them like a set of dog balls..." CMH)
To: Kartographer
Easy:
It will be blamed on Rick Scott.
28
posted on
06/30/2015 2:15:00 PM PDT
by
VRW Conspirator
(American Jobs for American Workers)
To: Kartographer
From the standpoint of the US, the best thing that could happen with regard to Puerto Rico is that it sink under the ocean. If we make it a state, it will become like Quebec, an unassimilated lump that is a drain on our economy. If we give it independence, it will soon be taken over by someone like Chavez or Castro, who will side with our enemies (Chinese or Russian or Iranian missiles?). Bad as the current situation is, there seems to be no good alternative. It's a tar baby.
29
posted on
06/30/2015 2:17:07 PM PDT
by
JoeFromSidney
( book, RESISTANCE TO TYRANNY, available from Amazon)
To: Kartographer
The Bronx is going to have a big population spike!
To: fieldmarshaldj; AuH2ORepublican; Impy; GOPsterinMA; randita; Sun; NFHale; ExTexasRedhead; GeronL; ..
Puerto Rico was doing well for a short time, but ‘Rats regained the governorship and now look at things. I hope this isn’t the first of a series of dominos.
31
posted on
06/30/2015 3:42:02 PM PDT
by
Clintonfatigued
(The War on Drugs is Big Government statism)
To: Covenantor; Old Sarge; JRandomFreeper
"73 billion dollars with a population of 3.7 million is some pretty impressive spending."
Pikers compared to my Ex-Wife!
32
posted on
06/30/2015 5:13:20 PM PDT
by
Kartographer
("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
To: Kartographer
The dominoes need to fall!
The jig is up. It's game over. And one can hope the guilty criminal architects will suffer hardest, but we all know that won't ever happen.
Years before the dotcom bust, I asked my friends who freely chose to “invest” in those companies, WHY????
The dotcoms sold no products, had no profits or business plans, and outside of marketing ponzi schemes, had no value.
Before the housing bust, I was screaming it was insane of the Fed government to allow/require financial companies to set up $0 down loans, with no income verification, who then re-sold those “mortgages” as legitimate products to “pension investment funds”.
And don't even get me started on derivative markets. So here we all are, gathered together to suffer the consequences of tolerating greed and corruption.
Nothing will change for the very rich and the very poor.
The vast majority of the middle class OTOH, will be killed off, one way or the other, by the New World Order.
33
posted on
07/01/2015 7:48:02 PM PDT
by
sarasmom
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