Puerto Rico Declares Bankruptcy...

[Arkain2K]

 

[jefferz]

Goddamn you Geraldo:

I expected him to have his nipples pierced. Why, I don't know.

 

[jefferz]

My friend just went to Puerto Rico. He loved it.

I went to PR as a Marine and loved the beaches.

PR was awesome but I seen plenty of sketchy stuff when I was there.

 

[Arkain2K]

President Trump: Puerto Rico's massive debts should be wiped out
NATHAN BOMEY | USA TODAY

President Trump is suggesting that Puerto Rico's debt should be wiped out to give the island a fresh start after Hurricane Maria deepened the U.S. territory's economic catastrophe.

The president's comments Tuesday come after Puerto Rico filed for the equivalent of federal bankruptcy protection in May after years of financial mistakes and economic decline.

Puerto Rico owed $74 billion in debts and $49 billion in pension liabilities before entering the so-called Title III restructuring process that Congress designed for distressed U.S. territories.

Those financial obligations — combined with bureaucratic inertia, population decline and lack of economic opportunity — hobbled the island's ability to pay for basic services such as public safety and health care.

In the island's municipal bankruptcy case, a federal oversight board is aiming to negotiate debt reductions with the island's creditors on behalf of Puerto Rico.

"They owe a lot of money to your friends on Wall Street and we're going to have to wipe that out," Trump told Fox News. "You can say goodbye to that."

Trump, who made the comments after touring the island to see Maria's wreckage, does not exert direct control over Puerto Rico's debt restructuring. He could theoretically pursue a federal bailout to cover the island's debts, which would require Congressional action, but that's unlikely.

Still, political momentum to aide Puerto Rico after Maria devastated the island could put pressure on creditors to capitulate in the debt negotiating process.

https://www.usatoday.com/story/money/2017/10/04/donald-trump-puerto-rico-debts/730744001/

 

[method115]

I'm gonna move to Puerto Rico, enjoy the sun and live like a king. Have a nice stable of Puerto Rican girls at my beckon call.

Bwahhahahah

Yep and then you'll get stabbed by a PR man who is tired of seeing your ass bang his native women.

 

[Arkain2K]

 

[JudoThrowFiasco]

I just don't get how they could not see the writing on the wall decades ago. They knew they were issuing way too many bonds and knew that their favoritable tax advantages were ephemeral. You really can only blame government mismanagement for this one. Debt level at 70% of the GDP -- if the federal aide actually helps rebuild PREPA that hurricane maybe the best thing to happen to the island in a long time

 

[KONG-D'SNT-TAP]

Yep and then you'll get stabbed by a PR man who is tired of seeing your ass bang his native women.

I'll hire some guys to be my body guards

 

[method115]

Theyll betray you the puerto Ricans

my man. literally the first thing i think of when any country is in crisis, is how fast i get can there and sell hoes dreams

Be careful. They could come over and learn your worth more as a exhusband/father.

 

[Falsedawn]

I'm gonna move to Puerto Rico, enjoy the sun and live like a king. Have a nice stable of Puerto Rican girls at my beckon call.

Bwahhahahah

Are you prepared to deal with that big water?

 

[HomerThompson]

Are you prepared to deal with that big water?

Ocean water?

 

[Jkillah]

Does the rest of the US really need Puerto Rico? Unless there is an important naval base or some major strategic advantage to having it, why don't we just grant it independence? Is there something of value I'm not seeing? It looks like a big money pit to me.

 

[KONG-D'SNT-TAP]

Are you prepared to deal with that big water?

Lol maybe I'll reconsider and move someplace else

 

[Shoemaker]

Dat trickle down yo

There’s a joke here about Boeing planes dropping bolts on people as they leave the state but I cant quite grab it.

 

[PEDS Help me Post]

Obviously it's the government that is to blame for the "PR collapse 2016" but the people of that country did something that really angered me.

Something like 95% that fled the country for the US just left their dogs there. Many of them locking the door behind that and trapping the dogs in the houses. So basically Puerto Rico is dead dog Island right now.

WTF

I thought everyone's been saying that they have no food..... sounds like they got Chinese food all over the place.

 

[BruceLeeOnTRT]

The debtor’s statement of assets listed $73 billion in municipal debt, equal to a debt for each man, woman and child in Puerto Rico of about $34,000. That does not include another obligation for unfunded pension liabilities of $20,300 per islander.

But Wall Street vultures, including Goldman Sachs, bought tens of billions of dollars in defaulted Puerto Rico municipal bonds for as low as 30 cents on the dollar last year. The speculators were betting that the threat of millions of impoverished Puerto Ricans migrating to the mainland would scare the White House and Republicans into backing a wildly lucrative federal bailout at 100 percent of the bonds’ value.

But President Trump, on his October 3 tour of Puerto Rico’s devastation, seemed tocrush hopes for a bail-out when he told Fox Business News, “They owe a lot of money to your friends on Wall Street and we’re going to have to wipe that out. You’re going to say goodbye to that, I don’t know if it’s Goldman Sachs, but whoever it is you can wave goodbye to that.”

http://www.breitbart.com/california/2017/10/04/trump-puerto-rico-debt-wipe-out-crushes-wall-street/
---


So much for Goldman Sachs controlling Trump through his cabinet picks...

 

[Snake_Plissken]

I'll remember that next time I'm driving my car to one of the 3 bars and restaurants Im part owner of in New Jersey. Thinking how I'm much more well off I am than you. Not to mention the rental homes I own.

Don't worry I'll tip you extra at the car wash. I love tipping.

You forgot about benching teh 275

 

[OverCoronavirus Pressure]

This is a PR nightmare!

Not for Trump, he's nothing but net

 

[bufetadanacara]

Governments shouldn't be allowed to run deficits.

Why does it need to be more complicated than that.
Could you imagine responsible spending? You know, like everyone else needs to practice.

 

[Arkain2K]

I just don't get how they could not see the writing on the wall decades ago. They knew they were issuing way too many bonds and knew that their favoritable tax advantages were ephemeral. You really can only blame government mismanagement for this one. Debt level at 70% of the GDP -- if the federal aide actually helps rebuild PREPA that hurricane maybe the best thing to happen to the island in a long time

You're assuming that the Puerto Ricans didn't see this coming.

They always knew, but kicking the can down the road has become a tradition ("somebody else will takes care of it next term, plus the Federal Government will help!"), and their citizens quite frankly didn't care when they keep voting innept people into office as their society crumbles around them ("Eh, we can always move to the main land").

In a way, having U.S Citizenship as a safety net is detrimental to Puerto Ricans, as they believe it eliminated the needs to grow up to be responsible adults.