Puerto Rico can't pay public debt

[-----]

What Black folks got to do with the PR?

Use it as the only thing its good for;
A source of cheap labor.

 

[newworldafro]

Los pollos son coming a la casa to roost

 

[OfTheCross]

El pollos coming a la casa to roost

 

[unit321]

The article really isn't clear on what caused this situation..or maybe I'm just too tired and didn't see it

Basically, the government doesn't have enough revenue to pay creditors. Government revenue comes from taxes. They aren't bringing in enough in taxes to cover their debt. Much like poorer parts of the US, revenue streams have left and with that goes tax money. I don't know what kind of industry PR has other than rum and tourism.

 

[OSUBaneBrowns]

Basically, the government doesn't have enough revenue to pay creditors. Government revenue comes from taxes. They aren't bringing in enough in taxes to cover their debt. Much like poorer parts of the US, revenue streams have left and with that goes tax money. I don't know what kind of industry PR has other than rum and tourism.

Puerto Rico may need to visit Hawaii and see how they maintain while being far away from the mainland. Their whole structure on generating revenue is flawed and finally bit them in the culo. Got to want to make business and wealthy individuals want to move down there.

 

[OneManGang]

Cuba looking at the US like

 

[theworldismine13]

http://www.nytimes.com/2015/06/29/b...re-not-payable.html?smid=fb-nytimes&smtyp=cur
http://www.washingtonpost.com/blogs...g-really-bad-what-you-need-to-know/?tid=sm_fb

Why are so few people working or looking for work?
The report cites one surprising problem: the federal minimum wage, which is at the same level in Puerto Rico as in the rest of the country, even though the economy there is so much weaker. There are probably some people who would like to work, but because of the sickly economy, businesses can't afford to pay them the minimum wage.

Someone working full time for the minimum wage earns $15,080 a year, which isn't that much less than the median income in Puerto Rico of $19,624.

The report also cites regulations and restrictions that make it difficult to set up new businesses and hire workers, although it's difficult to know just how large an effect these rules might or might not have on the labor market.

A report by the New York Fed also suggests that Puerto Rico has a relatively large underground economy employing a big part of the population. These workers aren't taxed or counted in formal employment numbers.

In any case, it's relatively expensive to hire and pay workers in Puerto Rico, which along with the high cost of transportation, energy and other goods, means that fewer tourists are planning trips to Puerto Rico than they were a decade ago and the number of hotel beds is the same as it was four decades ago, according to Krueger and her colleagues.

hmmmm

 

[bouncy]

and make what money?

You own the land!

Once you own the actual land, you can always make money from it because if people want to build something on that land, they have to pay you. You can probably get land, for dirt cheap now. The U.S. will not let the country go bad, they will just rebuild it up with wealthy people who use it as a vacation spot. Being that most of the people are leaving, it can become an island like oasis for the rich.

This is heaven for investors

 

[bouncy]

Basically, the government doesn't have enough revenue to pay creditors. Government revenue comes from taxes. They aren't bringing in enough in taxes to cover their debt. Much like poorer parts of the US, revenue streams have left and with that goes tax money. I don't know what kind of industry PR has other than rum and tourism.

If they were smart, they can use the land to be a cannabis grow. Since its part of the U.S., if they change the laws to allow cannabis use, that means they can use the land to grow herb. That land is wonderful to grow good herb on, and can be used to grow herb, and import it to the mainland. For people who like outdoor weed, its the perfect place, next to Hawaii. There are more then enough spots to sell the product legally, on the mainland in places like Colorado, Washington, d.c., and cali.

And the farms can employ more people then a resort would. This would help bring in more tax dollars. Then selling some of the herb itself, would help bring in tourism, as well as circulate money around the island, which will keep it stable.

Puerto Rico is going to be the new spot

EDIT: I forgot Puerto Rico legalized medical marijuana use in may!
shyt is about to get real

Downside is you can't smoke, but that's even better, you can get more money out of edibles

 

[☑︎#VoteDemocrat]

You own the land!

Once you own the actual land, you can always make money from it because if people want to build something on that land, they have to pay you. You can probably get land, for dirt cheap now. The U.S. will not let the country go bad, they will just rebuild it up with wealthy people who use it as a vacation spot. Being that most of the people are leaving, it can become an island like oasis for the rich.

This is heaven for investors

PR is lacking ACTUAL infrastructure

 

[☑︎#VoteDemocrat]

Cuba looking at the US like

I read in Bloomberg about a month ago that basically after the Spanish American War, Cuba and PR were the prodigal children of the USA but Cuba was the star student until the revolution happened.

 

[☑︎#VoteDemocrat]

Listen to this podcast:

 

[bouncy]

PR is lacking ACTUAL infrastructure

No, all you need is land. You don't need a building, and such, just actual land.

 

[OfTheCross]

Listen to this podcast:

@lotty

Around 2006 the PR economy took a hit when they phased out a tax exemption to US manufacturers. The manufacturers went elsewhere resulting in loss income for the State.

They have a large public sector, high energy costs, high unemployment and a decreasing population.

They lowered taxes and started borrowing money causing the debt to go up. shyt sounds like it was run by Republicans.

 

[bouncy]

@lotty

Around 2006 the PR economy took a hit when they phased out a tax exemption to US manufacturers. The manufacturers went elsewhere resulting in loss income for the State.

They have a large public sector, high energy costs, high unemployment and a decreasing population.

They lowered taxes and started borrowing money causing the debt to go up. shyt sounds like it was run by Republicans.

Yeah, shyts crazy!

I think investing in herb, can help them get some type of money, until they pay off the debt. I think I read, they might have a deal where they owe a smaller amount, I'm not exactly sure, but I bet someome would give them a loan, if they give them some land or maybe some type of lower cost on some things. This is the perfect time for long term investors to see a future benefit.

If they could get a low price that they have to pay back, they will start to seek money from outside investors, and if one comes with the proper plan, they will give a lot of incentives, and most likely sell some of the land for cheap. They are in debt now, so its the perfect time to box them in and get what you want. They will take what they can get