What do we think about Puerto Rico's Default

Posted by $ Thoritsu 9 years ago to Economics
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Self governing territory will not set up austerity measures to address this long-foreseen problem.
What do we think about the issue?
Was it contributed to by being a territory vs state?
Can/should this show up on the 2016 election?


All Comments

  • Posted by Flootus5 9 years ago in reply to this comment.
    And then if you keep giving him a fish everyday, lo and behold you have an entitlement syndrome.

    Withhold the fish, and maybe someone teaches them self how to fish.

    Unless someone deems the fish is an endangered species and there are too many individuals learning how to fish......

    Haha!
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  • Posted by $ 9 years ago in reply to this comment.
    This is the apathy before the totalitarianism, like the calm before the storm. It is not an institutional control.
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  • Posted by chad 9 years ago
    When you have economies based on fiat currency which is nothing but debt it will always reach a fiscal point where selling bonds to cover previous bonds will finally be realized as the Ponzi Scheme it always was. If they were a state it would be easier to hide the scheme longer with other debt options but eventually it all runs out.
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  • Posted by $ 9 years ago in reply to this comment.
    I doubt it, but thanks. I believe US people would be swayed by the woes of the PR people, and throw in the cost to the unimaginable US debt, where anything can be paid by evil corporations.
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  • Posted by $ 9 years ago in reply to this comment.
    Exactly right, and shipping totally protected by a naval base. Not good at all. Embargoes relatively impossible for anyone in the Caribbean or perhaps even South America.
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  • Posted by $ 9 years ago in reply to this comment.
    Most efficient at almost any distance. Next is rail. Next is truck. Last is air. Factor of 3-10x between each.
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  • Posted by $ 9 years ago in reply to this comment.
    Well, not to mince words, I would describe a Chinese naval base in the Caribbean as a mess for the US. Nothing like a port managed by Chinese companies. Not subtle. Separate an more ominous than the ability to drop ICBMs on US soil. Totally different, and totally bad, unless one prefers totalitarianism.
    What do you mean?
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  • Posted by Technocracy 9 years ago in reply to this comment.
    If the public voted, I think they would vote to cut them loose. Especially with the debt woes.

    Those that have an opinion any way. The no opinion/do not know crowd is always regrettably large.
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  • Posted by $ 9 years ago in reply to this comment.
    Not sure what you are implying. I think the media would be all in on taking PR as a state and going socialist in vote.
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  • Posted by $ jdg 9 years ago in reply to this comment.
    All their referenda have been non-binding. Either this one counts or none of them counts.
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  • Posted by Technocracy 9 years ago in reply to this comment.
    At a strategic level, the world is small enough that the major powers can hit anywhere they want without needing PR as a base. May be of use to minor powers in that sense.

    Overall more of an in your face benefit.
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  • Posted by $ 9 years ago in reply to this comment.
    Didn't have too much trouble controlling wayward students in the 90s. Don't think China would have an issue straightening out Puerto Ricans.
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  • Posted by $ 9 years ago in reply to this comment.
    Depends on how direct and heavy handed one is. It is a nice price of property. The rest is variable.
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