Puerto Rico is about to fall
Thread Starter
Member
Joined: May 2001
Posts: 66
Likes: 0
From: Newark, NJ
Vehicle: 2011 Genesis 2.0
Puerto Rico is about to fall
Puerto Rico can no longer make payments on its $73 billion in debt, according to Gov. Alejandro Garcia Padilla, who warns the island is perilously close to entering a "death spiral."
CNN link
I knew the politicians would eventually kill the island. I smell some shady backdoor dealings going on here! When my family there has to spend $3.50 for a head of lettuce something is not right. It almost feels like a hostile takeover. Make it too expensive for the locals to live, bankrupt the island. Sell it cheap to redevelopers, and make it into a exclusive resort for the very rich. Something is rotten in the Island of Puerto Rico!
Senior Member
Joined: Sep 2007
Posts: 962
Likes: 0
From: Elkhart, IN
Vehicle: 2003 Tiburón GT
This was bound to happen sooner or later. corruption is one of the main problems and the way federal laws were stipulated when the Commonwealth was created were always in favor to USofA. Add that is Tax heaven for big companies and when the tax break is over, they pack and leave.