Tag Archives: default

The goal of the Fiscal Oversight Board is a new government culture to root out corruption and cronyism, to create an environment that generates jobs instead of making people dependent on welfare, to practice financial discipline instead of overspending

  https://www.elnuevodia.com/english/english/nota/thegoalisanewgovernmentculture-2579499 The goal is a new government culture The chairman of the Oversight Board José Carrión III and also member Carlos García have announced their resignations after the Supreme Court ruled appointments to the Board are constitutional, and just … Continue reading

Posted in analysis and opinion, Puerto Rico economic crisis, Puerto Rico necessary improvements, Puerto Rico politics and government | Tagged , , , , , , , , , , , , , | Leave a comment

Puerto Rico 2.0? Wall Street Warns of More Caribbean Debt Dramas

https://www.bnnbloomberg.ca/puerto-rico-2-0-wall-street-warns-of-more-caribbean-debt-dramas-1.1424581 Puerto Rico 2.0? Wall Street Warns of More Caribbean Debt Dramas Ben Bartenstein, Bloomberg News BC-Puerto-Rico-20?-Wall-Street-Warns-of-More-Caribbean-Debt-Dramas , Ben Bartenstein (Bloomberg) — The Caribbean countries of Barbados, Belize and the Bahamas, among the preferred playgrounds for the world’s wealthiest bankers, … Continue reading

Posted in culture and cycle of dependency, incompetence and mismanagement, 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 aftermath, Puerto Ricans and Puerto Rico people, Puerto Rico necessary improvements | Tagged , , , , , , , , , , , , , | Leave a comment

Venezuela’s Default Disaster

Puerto Rico would be in a similar situation if not for the USA Federal Government bailing them out. https://mises.org/wire/venezuelas-default-disaster Venezuela’s Default Disaster 42 Comments Tags Global EconomyMoney and BanksMoney and Banking 11/20/2017Daniel Lacalle Socialism always promises heaven and gives hell. … Continue reading

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Venezuela Goes Bust. How is this different than Puerto Rico running out of money, long before the hurricanes hit PR?

You should read the comments at the end as well. https://www.wsj.com/articles/venezuela-goes-bust-1510703305 Venezuela Goes Bust Another lesson in the price of lending to a socialist regime. Venezuela’s President Nicolás Maduro in Caracas, Venezuela, Nov. 12. Photo: Miraflores Palace/Handout via REUTERS By … Continue reading

Posted in culture and cycle of dependency, Puerto Rico > Venezuela > Socialism | Tagged , , , , , , , , , , , , , , , , , , , , , , , , | 2 Comments

Puerto Rico credit unions not alarmed by decision to ask Fiscal Board to file bankruptcy under Title III

How can they NOT be alarmed? http://caribbeanbusiness.com/28116-2 Puerto Rico credit unions not alarmed by decision to ask Fiscal Board to file bankruptcy under Title III – Caribbean Business Puerto Rico credit unions not alarmed by decision to ask Fiscal Board … Continue reading

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Each Day 11 Puerto Ricans Lose Their Homes for Defaulting on Mortgages

http://www.laht.com/article.asp?CategoryId=14092&ArticleId=2405812 2-16-16 Each Day 11 Puerto Ricans Lose Their Homes for Defaulting on Mortgages SAN JUAN – An average of 11 Puerto Ricans per day lose their homes for defaulting on their mortgages, an increasing problem on the island, which … Continue reading

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Economic Crisis Causes Greatest Exodus in Puerto Rico’s History

http://www.laht.com/article.asp?CategoryId=14092&ArticleId=2411359 5-3-16 Economic Crisis Causes Greatest Exodus in Puerto Rico’s History SAN JUAN – The severe economic crisis that the U.S. commonwealth of Puerto Rico has gone through over the past 10 years has caused the greatest exodus in its … Continue reading

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Puerto Rico’s Newest Problem: The Population Can Leave Even If The Debts Don’t

Puerto Rico is a lesson in the failure of Socialism as it drives the productive members of society to leave or work less, just as it happened in Cuba and Venezuela, Puerto Rico’s Latin neighbors. http://www.forbes.com/sites/timworstall/2016/01/05/puerto-ricos-newest-problem-the-population-can-leave-even-if-the-debts-dont/#7318f6fb3812 Jan 5, 2016 @ … Continue reading

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

Helping Puerto Rico may start a whole new wave of bailouts

http://nypost.com/2016/03/22/helping-puerto-rico-may-start-a-whole-new-wave-of-bailouts Helping Puerto Rico may start a whole new wave of bailouts By Betsy McCaughey March 22, 2016 | 8:54pm If you have a retirement fund or pension, or you’re a taxpayer, get ready to have your pockets picked. The … Continue reading

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