Puerto Rico wants to declare bankruptcy

[ATCclears]

Puerto Rico Will Request Bankruptcy Protection
Puerto Rico is requesting bankruptcy protection, Gov. Ricardo Rosselló said, setting up a showdown with Wall Street firms owed billions of dollars in the largest U.S. municipal debt restructuring ever.

The governor said he would petition Puerto Rico's federal oversight board to invoke a quasi-bankruptcy law that puts its standoff with creditors before a judge. Puerto Rico and its agencies owe $73 billion to creditors, dwarfing the roughly $18 billion owed by the city of Detroit when it entered what was previously the largest municipal bankruptcy in 2013.



Another chance to watch/learn the resulting impact to the population.

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[Camelfilter]

Yeah free stuff!

-or-

It's President Trump's fault.

 

[Siglvr]

I served in the military with a bunch of PR's. Good folks, honorable and real fun dudes: hope they can figure this out and everyone gets it resolved to their satisfaction.

 

[orygun]

I served in the military with a bunch of PR's. Good folks, honorable and real fun dudes: hope they can figure this out and everyone gets it resolved to their satisfaction.

I think that usually the citizens of a given country have little in common with their "government".

 

[308]

Give everyone free stuff. It's free after all and if they need it, then they deserve it.

 

[Certaindeaf]

Maybe they can grow a potato or something. welcome to the world
I gather that all the tens of thousands of government trained doctors over there are moving over here. and of course they'll vote the same way they f'd up the first time..
anyway

 

[Sodbuster]

Similar to all of the Californians who had to leave California for Oregon. Not satisfied with Oregon as it was, they changed it to resemble what they left in the first place, California. People don't learn until it affects them directly.

 

[Alexx1401]

I served in the military with a bunch of PR's. Good folks, honorable and real fun dudes: hope they can figure this out and everyone gets it resolved to their satisfaction.

The mess there has zero to do with the kind you served with. It's decades of the Government there. They finally long ago ran out of other peoples money. The only real problem is the people who made the mess will not lose their jobs. They will get some kind of bail out and do it all over again.

 

[woody06]

Similar to all of the Californians who had to leave California for Oregon. Not satisfied with Oregon as it was, they changed it to resemble what they left in the first place, California. People don't learn until it affects them directly.

Please don't paint all ex-Californians with the same brush, Sodbuster. We fled the Peoples Republic 20 years ago because of what it had become and rural Oregon, at that time, was the kind of place we wanted to live. We hated what California had become so why would we want to make Oregon like it? Unfortunately Oregon is becoming more like Kali and that deeply pains me. But look t the political distribution throughout Oregon and it becomes clear how we are geographically divided. The northwest quadrant, roughly, contains the vast majority of the population and thus defines us politically. And it is strongly liberal. The State will continue moving to the left unless that can be changed. And I doubt that will happen.

 

[CountryGent]

It's decades of the Government there. They finally long ago ran out of other peoples money.

^ There is a lot of truth to this. I've done business down there for many years. The island has a lot going for it, both economically and otherwise, and this mess could have been avoided by sound governance and fiscal responsibility. Neither happened, of course, everything is falling apart, and people are leaving. While there are decent folks within the government that fight against it, corrupt is still rampant.

 

[Alexx1401]

Please don't paint all ex-Californians with the same brush, Sodbuster. We fled the Peoples Republic 20 years ago because of what it had become and rural Oregon, at that time, was the kind of place we wanted to live. We hated what California had become so why would we want to make Oregon like it? Unfortunately Oregon is becoming more like Kali and that deeply pains me. But look t the political distribution throughout Oregon and it becomes clear how we are geographically divided. The northwest quadrant, roughly, contains the vast majority of the population and thus defines us politically. And it is strongly liberal. The State will continue moving to the left unless that can be changed. And I doubt that will happen.

Liberals all have one thing in common. They vote to turn the place they live into a sewer. Then the ones who have money either move into well protected enclaves to keep out the people they support, or move. Many get tired of the tax burden they voted on themselves so they move. The first thing they do is start voting to turn the new home into the sewer they just left. There is of course some conservative thinking people who get enough and move too. Sadly they ones who want to turn the new place into the sewer they left seem to outnumber the the others. This is why I always warn those conservatives who move to stay vigilant. Often conservatives either don't vote, or get self important and say "I will not vote for that person. They are not conservative enough". Soon the new place starts to become just like the old place as the liberals vote. TX and ID are seeing this slowly happen to them.

 

[Certaindeaf]

When all is said and done, Cuba probably has a higher GDP than Puerto Rico.. if normal math was used.
maybe they should smash the money printing presses.. retards

 

[EPS]

You can't bring there to here without here becoming just like there the liberal mind set is all over the place and there final agenda is that we all be worth noting but what the government Says we are worth

 

[WAYNO]

I visited Puerto Rico a month ago. A very short visit, but from the little of the country I saw, there seemed to be a lot of industry, and a person could assume therefore, many ways for folks to make money.

But of all the places I've visited in the Caribbean, nowhere did I feel less welcome than Puerto Rico. I was warned of this many years ago by a soldier I served with that was from Puerto Rico. He said they hated the United States, and hated Americans. I'm now a believer.

So, to spite the United States, it seems a self fulfilling prophesy that they fail.

WAYNO.

 

[HB of CJ]

Can a Territory even go $bankrupt$? This does not bode well. If they make it work then it means that some very broke States may also consider such? Specifically I am thinking of California and Illinois. Perhaps many others. And if a major State government goes belly up, what does that mean for the entire Nation? "I have a bad feeling about this".

President Trump has only been in office for some 100+ days. The failed economic Federal and State policies have been in place for 50 years. I do not think Trump is responsible. But ... he is the poor sap who will have to deal with it. Him and Congress. Wish us luck, we are going to need it. Economic collapse SHTF is possible and must be planned for.

Respectfully.

 

[Camelfilter]

Can a Territory even go $bankrupt$? This does not bode well. If they make it work then it means that some very broke States may also consider such? Specifically I am thinking of California and Illinois. Perhaps many others. And if a major State government goes belly up, what does that mean for the entire Nation? "I have a bad feeling about this".

President Trump has only been in office for some 100+ days. The failed economic Federal and State policies have been in place for 50 years. I do not think Trump is responsible. But ... he is the poor sap who will have to deal with it. Him and Congress. Wish us luck, we are going to need it. Economic collapse SHTF is possible and must be planned for.

Respectfully.

We've been at a tipping point for quit a while, and are still very much so at risk.

Had he lost, I feel we would have tipped into collapse, which we still may, just not as guaranteed...

 

[Sodbuster]

Please don't paint all ex-Californians with the same brush, Sodbuster. We fled the Peoples Republic 20 years ago because of what it had become and rural Oregon, at that time, was the kind of place we wanted to live. We hated what California had become so why would we want to make Oregon like it? Unfortunately Oregon is becoming more like Kali and that deeply pains me. But look t the political distribution throughout Oregon and it becomes clear how we are geographically divided. The northwest quadrant, roughly, contains the vast majority of the population and thus defines us politically. And it is strongly liberal. The State will continue moving to the left unless that can be changed. And I doubt that will happen.

I agree with you Woody. And it's the shame that for most of the state of Oregon, it is conservative. But the NW portion and the SW portion (Ashland and Medford) are extremely liberal. And because the population centers are there, you have an overpowering of the rest of the state. Too bad the state of Jefferson couldn't come into being. Or the eastern half of Oregon create it's own state.

 

[woody06]

+1 on the State of Jefferson. We keep hoping!