Obama about to sign Puerto Rico debt bill

Posted by $ jbrenner 8 years, 10 months ago to Economics
31 comments | Share | Flag

Where is Ragnar? I want to come join his crew.

It's time for Puerto Rico to change its name. It is no longer "Rico".

Does the burden of being a producer feel just a bit heavier today?


All Comments

  • Posted by dougblack 8 years, 9 months ago
    If many or most Puerto Ricans think their plight is the fault of the US then I encourage them to become an independent nation like other Caribbean islands. Don't hold your breath on that ever happening. They are much too happy to keep taking Uncle Sam's handouts.
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  • Posted by johnpe1 8 years, 10 months ago
    another entity "too big to fail." . our government is
    giving away producers' profits willy-nilly, buying votes. -- j
    .
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  • Posted by Wanderer 8 years, 10 months ago in reply to this comment.
    John;

    I think not. the cell phone and internet have permeated the Middle East and Indonesia, if not Southern Asia yet. Youth manage to keep ahead of the censors by using different platforms. Break a 2 hour movie into 2 minute videos and it'll get in to Iran and Saudi. The key is to audience test it as it's being made so, you can get the right reaction from young Muslims. The true story of Islam is so off-putting it could kill Islam as far as young people are concerned.

    I don't think this has anything to do with economic systems (Jihadi's care naught for money), just spiritualism and conquest.
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  • Posted by $ 8 years, 10 months ago in reply to this comment.
    The big problem with your thesis is that your message will be filtered out in Muslim countries. Our best hope for changing the culture is by properly educating their top flight college students, which I do every day. Their current top flight college students will eventually be in positions of power. It is not hard for them to see the values of capitalism and of value-for-value exchange. The only humans who cannot see those values are either brain dead or brainwashed, neither of whom are worth my time to educate.
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  • Posted by Wanderer 8 years, 10 months ago in reply to this comment.
    Jr;

    No. I was referring to something I posted here under "Philosophy" called Ending the Jihad.

    It's rather long but, it takes a different approach. 1400 years of Jihad and reaction to Jihad should prove we're not going to stop Islam's violence by killing Muslims. My thesis is we make Islam uncool to the younger generation of Muslims. Young people are the same almost everywhere. They want to be in, be cool. In Muslim countries Jihad is cool. If we tell Islam's real story, maybe we can make it as uncool as both Judaism and Christianity have become here.

    Check it out and let me know what you think. As ridiculously improbable as the story sounds, the beginnings of Islam, as I presented them are historical facts:

    https://medium.com/@Penseur/ending-th...
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  • Posted by Wanderer 8 years, 10 months ago
    I've spent a few weeks in Puerto Rico. Almost everyone I met thought Puerto Rico's problems were the fault of the US. They all seemed to think we were still a colonial power, treating them as slaves. The population is fleeing the island and, since they have the right to come here, guess what...

    ...millions more socialists (Democrats) living in the US and eventually voting here!
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  • Posted by term2 8 years, 10 months ago in reply to this comment.
    I thought it was funny that the opposition in Venezuela is also socialist. The place is doomed for a long time...
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  • Posted by ChestyPuller 8 years, 10 months ago
    Yes, yes it does!
    P.R. may very bad investments and bad laws to have wealthy land owners move down to P.R.. These regulations, laws and bond issues were so bad they are bankrupt, can't get out of them and are unable to pay the Wall Street Bankers back on the deal Wall St helped them set up!

    Yet we are supposed to bail them out?

    The them being P.R. and the Wall St Bankers AGAIN [remember 2008]

    How dumb are we? Are we truly dumb enough to back Hillary Clinton to screw us again for 4 more years?

    The answer comes the 1st Tuesday in November 2016, fingers crossed people
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  • Posted by freedomforall 8 years, 10 months ago in reply to this comment.
    Not to the overlords, only to sovereigns.
    PR would be a good place to banish all the looters.
    They can bask in the sun and starve to death.
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  • Posted by $ 8 years, 10 months ago in reply to this comment.
    "Why must we be in the middle of this?" Because the US government never allows a dollar to go to waste without buying off someone's vote first!
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  • Posted by ObjectiveAnalyst 8 years, 10 months ago
    Hello jbrenner,
    It is always somebody else's money... Why is this our problem?
    Since we are already in debt to the tune of 19 trillion dollars plus and borrowing from China for our governments own malfeasance, why must we be in the middle of this? Let Puerto Rico avoid the middle man and borrow directly from China...
    The last people our government wants to support and represent is the taxpayer.
    Regards,
    O.A.
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  • Posted by $ Olduglycarl 8 years, 10 months ago
    Why can't they make their own deals? Do we really have to hold their hand? Come on...grow up guys.
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  • Posted by $ blarman 8 years, 10 months ago
    Oh, come on RICO is completely appropriate (referring of course to the Racketeer Influenced and Corrupt Organizations Act). It just in this case applies to government as much as the private entities it is supposed to target.
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  • Posted by Herb7734 8 years, 10 months ago
    "just a bit heavier." Indeed. But with all the weight already being carried, one hardly notices another $70 billion.
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  • Posted by $ allosaur 8 years, 10 months ago
    Oh, yes, let's create all the more Democrat voters in poor little Puerto Rico.
    "The big ole' USA" (say that aloud with a deep voice) can really afford to be so magnanimous.
    Never forget that Joe Biden smiled as he said that we can spend our way out of debt.
    That was during our Commander-Of-Grief's first term.
    Check out how well that has worked out now during the emperor's last year in office (if he does not declare martial law)~

    http://www.usdebtclock.org/
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  • Posted by Esceptico 8 years, 10 months ago
    Time for PRExit. Actually, I think it is time for many states to exit, also. UK left the EU the same way the South tried to exit the US, peacefully.
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  • Posted by Eyecu2 8 years, 10 months ago
    While I have no desire to assume someone else's debt. I see no way out as the powers that be are running straight to this fire with a bucket of gasoline. Maybe they can become the 51st state and quit being a territory. Not a good solution but lemonade from lemons. Even if it is crappy lemonade.
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  • Posted by wiggys 8 years, 10 months ago
    are you surprised about 0 giving our money to p.r. if so you shouldn't be. any good cause as 0 sees it to give our money away is good by him.
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  • Posted by term2 8 years, 10 months ago in reply to this comment.
    I am not sure why we care about what happens to puerto rico? Somebody bought off somebody I suppose.
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  • Posted by term2 8 years, 10 months ago
    I am disgusted by having to bail out such stupidity. I say let them fall and fix their own problems. Otherwise, they will just do it again later and expect a bailout. Does this mean we have to pay for the indiscretions of any of our states also- like california? I hope Trump wins and he enforces some fiscal responsibility.
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  • Posted by $ nickursis 8 years, 10 months ago
    This has been building for years, and has the trademark "wait until it is a frigging disaster and no one will care" politics both parties play:

    But Reid said he was voting for passage because Puerto Rico needed the help by Friday. "Otherwise we ... turn them over to the hedge funds and they will sue them to death," he said.
    So sue them. If you are worried about them as citizens, then they should have all the rights and privileges as citizens, otherwise, shut up. How can they not be able to file BK like anyone else? Go fix your BK laws, idiots.
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