ZH: Puerto Rico Says “No Mas!”, Seeks Restructure Of Its Unpayable Government Debt
Consider the downstream effects.
We’re gonna need a bigger printing press.
Like I wrote on ZH, barry will write them a rubber check. Then they will vote for the next socialist that comes along.
No hay mas dinero en el banco. Todo ha sido robado.
Greece has closed its banks starting tomorrow for the week ( Forever?). Puerto Rico has now stated the obvious, no country has the money to cover any of these debts. China’s stock market has been on the skids for a while. As I write this all the Asian markets are crashing at least 2%. We may be looking at a 1000 point drop on the dow tomorrow.
Don’t be standing under any windows on wall st. tomorrow. You may be hit by falling bankers.
Pour favor, para Espanol o prima dos:
That could well be a ”fake Ben Garrison” cartoon.
But this one is real (H/T ZeroHedge):
First of many “states” in FUSA to fall,
How about neighborhood associations start doing the same thing?
BTW a significant portion of your state and local taxes now just go toward interest on debts, public employee health plans, and former public employee pensions. As the rural infrastructure collapses and services are scaled back more and more people will move to pre-designated population zones.
“As the rural infrastructure collapses and services are scaled back more and more people will move to pre-designated population zones.”
That is already happening in Detroit. But one may view that as a problem or an opportunity. Myself I consider it an opportunity. As the services are scaled back in those rural areas so will be the BS. It will require one to provide those services for themselves however. But then if one is of the right mindset that too is an opportunity.
Remember they stalled this until now. Anyone think its a mistake that all of the “incidents” have reached a fever pitch just as Greece says no mas? “No one could have seen this coming”. Ordo Ab Chao indeed.
Does anyone remember the LARGEST bank bailouts that the FDIC did back in 2010? One week they bailed out 3 PR banks to the tune of $5.3 billion to the US taxpayer. It was one of the costliest weeks of bank failures back in the Great Recession. It was an odd week since the week prior all of a sudden there were political comments about how important Puerto Rico was, blah blah blah, and then the next week we bailed out their banks with a cost that dwarfed the constant US bank failures that we’re happening weekly. And for the most part, nobody noticed.
Here were the banks and the COST that the FDIC has to bail in.
4/30/10 Westernbank Puerto Rico $3.31 billion
4/30/10 R-G Premier bank of Puerto Rico $1.23 billion
4/30/10 Eurobank $2.56 billion $743.9 million
Here’s the 2010 list. See for yourselves. http://money.cnn.com/news/storysupplement/economy/bank_failures/list/
James1, absolutely spot on. Er, Sieg Heil?
Meh. Cry wolf stories like this have been going on for years now. I no longer pay much attention to them. 🙂
I agree completely. Remember my folks prepping for Cuban missile crisis, and collecting silver when the bank notes changed.
I will continue to continue to carry on, and summer plans as usual.
Reblogged this on The Lynler Report.
All is going as was predicted in 1899: The Conquest of the United States by Spain (1899) http://praxeology.net/WGS-CUS.htm
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