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Puerto Rico debt
Posted on 11/9/20 at 12:21 am
Posted on 11/9/20 at 12:21 am
We hear much about Puerto Rico’s debt. Whose problem is it really? If someone moves from PR to the mainland, then they can vote, etc as if they moved from state to state. This has happened a lot, particularly to Florida in recent years. Suppose every single person moved away from the island, then who is really responsible for the debt?
15
Posted on 11/9/20 at 12:24 am to LSUneaux
quote:
Suppose every single person moved away from the island, then who is really responsible for the debt?
We all get a 1/5th of rum.
Posted on 11/9/20 at 12:40 am to LSUneaux
I assume like states and local governments within the 50 states if it gets bad enough they will file for bankruptcy.
As for who OWNS the debt the answer is a LOT of people. In fact, if you own any municipal bond funds you almost certainly own some PR debt since bond managers loved them since they are triple tax-exempt. This already precarious situation makes further bonds hard to finance.
As for who OWNS the debt the answer is a LOT of people. In fact, if you own any municipal bond funds you almost certainly own some PR debt since bond managers loved them since they are triple tax-exempt. This already precarious situation makes further bonds hard to finance.
Posted on 11/9/20 at 12:51 am to LSUneaux
quote:
Suppose every single person moved away from the island, then who is really responsible for the debt?
Serious question: are you high?
This post was edited on 11/9/20 at 12:54 am
Posted on 11/9/20 at 12:52 am to Cold Drink
In other words, do you think debt is based on geography?
Posted on 11/9/20 at 12:52 am to LSUneaux
Didn't PR just vote for statehood?
It got overshadowed by The Big Steal
It got overshadowed by The Big Steal
Posted on 11/9/20 at 12:58 am to LSUneaux
I’m sorry I just can’t figure out if you’re serious or not. Do you actually think your debt gets cancelled if you move somewhere else?
Please tell me you’re high.
Please tell me you’re high.
Posted on 11/9/20 at 12:59 am to LSUneaux
quote:will it tip over?
Suppose every single person moved away from the island
Posted on 11/9/20 at 12:59 am to LSUneaux
It’s long over due to drop Puerto Rico. They serve no purpose
Posted on 11/9/20 at 1:01 am to Pelican fan99
quote:w/o them there's no this:
They serve no purpose
Posted on 11/9/20 at 1:05 am to Pelican fan99
Throw DC and Puerto Rico in to the mix and .........,.........,,,,....
Posted on 11/9/20 at 1:05 am to Cold Drink
quote:
I’m sorry I just can’t figure out if you’re serious or not. Do you actually think your debt gets cancelled if you move somewhere else?
Please tell me you’re high.
You do realize he is talking about the debt of the Commonwealth not the personal debt of the residents.
Posted on 11/9/20 at 1:07 am to Obtuse1
quote:
You do realize he is talking about the debt of the Commonwealth not the personal debt of the residents.
Exactly. I’m referring to the government debt.
Posted on 11/9/20 at 1:13 am to Obtuse1
I had a former client who were obsessed with municiapl bonds. They bought Baton Rouge municipal bonds before and i thought of this site and just shook my head.
Posted on 11/9/20 at 4:44 am to Pelican fan99
It could be an effective location to place strong military presence in the Caribbean and position the US against the rapidly spreading communism in South America.
Posted on 11/9/20 at 5:07 am to Pelican fan99
We should give them back to Mexico
Posted on 11/9/20 at 5:18 am to Devilsturn
quote:
It could be an effective location to place strong military presence in the Caribbean and position the US against the rapidly spreading communism in South America.
This is just ridiculous. You don't stop ideas with guns. You can stop armies fueled by those ideas but what SA military has the force projection to attack the US en masse in the mainland? The strongest military in SA is Brazil which doesn't even rate in the top 20 in military strength and has next to no force projection. As for the Caribbean being a strategic arena just consider the last time a carrier group was deployed there. I remember an exercise about 15 years ago but haven't seen anything since then.
Posted on 11/9/20 at 5:23 am to mauser
quote:
We should give them back to Mexico
That would be Spain, just like Cuba, Guam, and the Philippines in the Treaty of Paris, the one that ended the Spanish-American war.
Posted on 11/9/20 at 5:38 am to Obtuse1
quote:
I assume like states and local governments within the 50 states if it gets bad enough they will file for bankruptcy.
They can't file Ch 9
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