391–400 of 481 posts
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I'm pretty sure taking out a loan that you intend to default on is fraud, but making a contract with someone that you expect to be very profitable to you is not.
If I were to look for fraud anywhere, I'd start by looking at the people who give inflated ratings to bonds.
I have lived all my life in Puerto Rico, and as you can imagine, this issue is quite controversial. We owe money to the creditors... and what you do with a debt is to you pay it off. Yet the amount is so staggering, that I wonder if it's actually possible. As is typical, decisions by politicians placed us in this situation. Decade after decade, 4-year term after 4-year term, the government has spent money it does not…
With all the out of control government spending (in this case but also in general), I wonder... what did Puerto Rico get for all its borrowing? Obviously they spent the money but... on what?
There is also a large portion of the population receiving government jobs or support.
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Sovereign states eponymously don't need bankruptcy protection, as banks cannot collect from them. Countries pay back loans because they like to keep a good reputation for future loans, but this does not work in a situation where there is nothing to lose since you can't service loans anyway. (Of course banks can enlist other states to do strong-arming: See eg Greece who were pressured to accept a deal worse than defau…
> See eg Greece who were pressured to accept a deal worse than default to benefit foreign EU banks how are they being pressured?
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Which is why Cuba, Venezuela, and North Korea are doing so well. I'm astounded people still think the idea of central production control has any juice left in it after such a thorough debunking in the 20th century.
Which is why Norway, Denmark and Sweden are doing so well with all their socialist programs.... so what now...? I personally feel the right answer is in the middle. Socialise whats required like health, education, emergency services, roads, pensions, etc And leave the luxuries of life as free market. As an extra touch, I would make politicians and civil servants required to use public services rather than private alt…
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I agree but that is not the case for most of this. People spend to much and run up to much debt because they are trying to keep up with the Jones. My wife was property manager for a large company. One of the properties in Orange County, New Port Beach area, had the highest rate of late payments and evictions. This is a A+ complex and has some of the highest rents for the units in the area. Guess what, those people th…
I personally know people (Not friends) that have gone through bankruptcy 2 times, doing the same stupid shit the 2nd time as the first and it does not look like anything has changed with the last. The companies that lent them money for the second time should have gotten a clue, shouldn't they? Isn't this precisely what credit reports are for? It is definitely stupid to live over one's means and then go bankrupt, but…
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Why would USA want PR as 51? What benefit is there? PR has more debt that California, and zero industry except for Bacardi rum. Name one thing made in PR?
We own you but we don't want to give you more rights because we can't figure out how to profit enough of you. Ha! Ha! Ha! Assuming you were born in the USA, why were you born there rather than in Puerto Rico? Was this a matter of skill and judgment on your part, or just luck? If so, what basis do you have for denying the rights you enjoy to others who live in a territory rather than a state?
U.S.A was also once owned by another country and it managed to figure something out.
I lived in PR for a few months in 2014, every week I would learn more and more about how much of a disaster that island is.
I wish them luck cause it's going to be hard to get things going again.
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And the upside is that the economy is much larger than it could ever have been while stuck on gold.
Will it stay that way? What happens if it doesn't?
- Love to. How about Global Thermonuclear War?
- WOULDN'T YOU PREFER A GOOD GAME OF CHESS?
- Later. Let's play global thermonuclear war.
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Why would USA want PR as 51? What benefit is there? PR has more debt that California, and zero industry except for Bacardi rum. Name one thing made in PR?
There is a lot of pharmaceutical manufacturing in PR. Also, textiles and electronics. Tourism and financial services are also significant. Rum is a tiny sector.
Wiki had data up until ~2013 and things haven't exactly improved since then. https://en.wikipedia.org/wiki/Economy_of_Puerto_Rico
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Absolutely. Go to the west side to Cabo Rojo. Eat some great fresh seafood. Then head to Lajas (15 min drive) at night to see the bioluminiscent bay (wear jeans and bring mosquito repelent). Then go to the east side and end up in Fajardo. Visit El Yunque and then eat some local delicacies in los kioskos. After all that, call me, and Ill take you to my dads hacienda where Ill serve some rice and beans while you relax…
How much Spanish should I try and pick up? Will it help?