Go Back   Professional Soldiers ® > Area Studies > Latin America

Reply
 
Thread Tools Display Modes
Old 08-03-2015, 16:41   #1
Sdiver
Area Commander
 
Sdiver's Avatar
 
Join Date: Feb 2004
Location: The Black Hills of SD
Posts: 5,917
Puerto Rico defaults on $58 million bond payment

Greece in the Caribbean ....

Quote:
Puerto Rico has defaulted for the first time in the commonwealth government's history after missing most of a $58 million bond payment. "Due to the lack of appropriated funds for this fiscal year the entirety of the PFC (Public Finance Corporation) payment was not made today," said Melba Acosta Febo, the president of the Government Development Bank for Puerto Rico. "This was a decision that reflects the serious concerns about the Commonwealth's liquidity in combination with the balance of obligations to our creditors [and the people]." Febo said the PFC was only able to pay approximately $628,000 out of the $58 million. The commonwealth owes about $72 billion to its creditors.


[full statement attached here] .... http://bnonews.com/news/index.php/news/id1134
__________________
Non Sibi Sed Suis
_____________________________________________
It's Good To Be Da King !!!! Just ask NDD !!!!
Sdiver is offline   Reply With Quote
Old 08-03-2015, 16:47   #2
The Reaper
Quiet Professional
 
The Reaper's Avatar
 
Join Date: Jan 2004
Location: Free Pineland
Posts: 24,779
Based on my experience there, they must finally be running out of other people's money.

Trouble is, they are still wasting Federal tax dollars as well, which is MY money.

TR
__________________
"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat." - President Theodore Roosevelt, 1910

De Oppresso Liber 01/20/2025
The Reaper is offline   Reply With Quote
Old 08-03-2015, 18:13   #3
SF_BHT
Quiet Professional
 
SF_BHT's Avatar
 
Join Date: Jun 2007
Location: Sneaking back and forth across the Border
Posts: 6,627
This is only the tip of the iceberg. They have no way to pay any of their other upcoming payments. 72+billion in the hole.

Glad I got off the sinking ship when I did. They still owe me several thousands but I am sure it will never show up.
SF_BHT is offline   Reply With Quote
Old 08-03-2015, 18:34   #4
Oldrotorhead
Guerrilla Chief
 
Join Date: Apr 2010
Location: Texas
Posts: 830
The only reasonable solution is to let the bond owners eat the loss with PR getting a much lower credit rating and a much higher interest rate in the future. Lets see if the Feds agree.

Keep in mind that if the Feds bail out PR , CA, NJ and others will be lined up for their "fair share"
__________________
Oldrotorhead

Last edited by Oldrotorhead; 08-03-2015 at 18:38.
Oldrotorhead is offline   Reply With Quote
Old 08-04-2015, 07:19   #5
Hand
Guerrilla Chief
 
Hand's Avatar
 
Join Date: Dec 2010
Location: Georgia
Posts: 875
How is it the responsibility of the tax payer, me in other words, to replace the money that present and past leaders extracted from the system via incompetence or purposeful means?

In my mind the correct thing to do would be to determine how the state/country/bank/airline/car manufacturer got into the state they did, find the people responsible, extract as much money from their financial holdings, real estate holdings, overseas holdings as possible, then appeal to the tax payer, me in other words, to make up the difference. I'm sick and fucking tired of paying for the mistakes of people in power.

Bailouts. smh. The working class in this country need a bailout.

Note: I know, I know, I drive on federal roads and my kids go to state funded public schools blah blah blah, but hey, so did the fuckers who sucked all the money out of PR, and Greece.
Hand is offline   Reply With Quote
Old 08-04-2015, 12:38   #6
MR2
Quiet Professional
 
MR2's Avatar
 
Join Date: Nov 2011
Location: Location, Location
Posts: 3,997
"Claw Back" - that's the term the Democrats used to use when agitating against the bankers during the so-called banking crisis.

I like it.

We "Claw Back" all assets of every living Federal elected/appointed official, Cabinet level and higher. That means White House, the Congress, the federal Judiciary.

To include their extended families. Down two generations!

We will exempt current earned or Social Security income. All other assets are fair game.


We will do this until the national debt is paid off and again should we ever incur any more debt.

Any new taxes apply only to the above noteds for 1 year before applying to the rest of the citizens.
__________________
The two most powerful warriors are patience and time - Leo Tolstoy

It's Never Crowded Along the Extra Mile - Wayne Dyer


WOKE = Willfully Overlooking Known Evil
MR2 is offline   Reply With Quote
Old 08-04-2015, 12:59   #7
Hand
Guerrilla Chief
 
Hand's Avatar
 
Join Date: Dec 2010
Location: Georgia
Posts: 875
Quote:
Originally Posted by MR2 View Post
"Claw Back" - that's the term the Democrats used to use when agitating against the bankers during the so-called banking crisis.

I like it.

We "Claw Back" all assets of every living Federal elected/appointed official, Cabinet level and higher. That means White House, the Congress, the federal Judiciary.

To include their extended families. Down two generations!

We will exempt current earned or Social Security income. All other assets are fair game.


We will do this until the national debt is paid off and again should we ever incur any more debt.

Any new taxes apply only to the above noteds for 1 year before applying to the rest of the citizens.
Yes! I like it! How can we get this implemented?
Hand is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump



All times are GMT -6. The time now is 15:47.



Copyright 2004-2022 by Professional Soldiers ®
Site Designed, Maintained, & Hosted by Hilliker Technologies