Tag Archives: debt

Lin-Manuel Miranda: Puerto Rico needs “debt forgiveness” to recover

Since Lin-Manuel Miranda believes the debts that Puerto Rico incurred should be forgiven, to not honor the commitment to pay their loans, will Miranda stop charging for all his Hamilton shows or allow  you to “promise” to pay later?  A … Continue reading

Posted in culture and cycle of dependency, economic crisis, Puerto Rico economic crisis | Tagged , , , , , , , , , , , , , , | Leave a comment

Puerto Rico’s poor economy is rooted in counter-productive Puerto Rican government policies

https://www.washingtonpost.com/opinions/dont-blame-puerto-ricos-poor-economy-on-hurricanes/2018/12/17/206a5734-f181-11e8-9240-e8028a62c722_story.html The Puerto Rican government is the problem by having policies that encourage people to be on welfare, to discourage them from working.  It’s simple logic, in that one will get more behavior that is rewarded and less behavior that … Continue reading

Posted in analysis and opinion, culture and cycle of dependency, Hurricane Maria and after effects, Puerto Ricans and Puerto Rico people, Puerto Rico necessary improvements | Tagged , , , , , , , , , , , , , | Leave a comment

Puerto Rico’s unlikely financial bounceback

https://www.axios.com/puerto-ricos-unlikely-financial-bounceback–cd785c49-86ef-4527-83e8-67350cda23f3.html Felix Salmon Oct 28, 2018 Puerto Rico’s unlikely financial bounceback Puerto Rico was the poorest and most struggling part of America even before Hurricane Maria hit in September 2017. Its bonds had been in default for over a year, … Continue reading

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Socialism killed Puerto Rico too, not just Greece

  https://www.cnbc.com/2015/07/02/like-greece-puerto-rican-debt-is-all-about-socialism.html Socialism killed Puerto Rico too Jake Novak | @jakejakeny Published 12:34 PM ET Thu, 2 July 2015 CNBC.com Getty Images Capitol building in San Juan I hope no one here in the U.S. is feeling too smug about … Continue reading

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Puerto Rico co-ops unfazed by debt-forgiveness talk, Moody’s downgrade

  http://caribbeanbusiness.com/puerto-rico-co-ops-unmoved-by-debt-forgiveness-talk-moodys-downgrade Puerto Rico co-ops unfazed by debt-forgiveness talk, Moody’s downgrade By Eva Lloréns Vélez on October 16, 2017 SAN JUAN –  Cooperatives Supervision & Insurance Corp. (Cossec by its Spanish acronym) Chairwoman Ivelisse Torres said Puerto Rico credit unions, … Continue reading

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Puerto Rico’s fiscal board approves plan for Cossec, lifeline for credit unions

  http://caribbeanbusiness.com/puerto-rico-cooperatives-supervision-insurance-corp-proposes-lifeline Puerto Rico’s fiscal board approves plan for Cossec, lifeline for credit unions By Luis J. Valentín Ortiz on August 4, 2017   FAJARDO, Puerto Rico – Puerto Rico’s financial control board certified Friday, with amendments, a fiscal plan … Continue reading

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Oversight Board proposes adjustments and consolidation for Cossec

The Puerto Rico government forced the cooperativos, aka credit unions, to buy Puerto Rican bonds, which are now considered junk. Sounds like if the cooperativos had to mark these assets to market, many would be insolvent. So the regulator is … Continue reading

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