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Puerto Rico Blues
Puerto Rico Blues
Puerto Rico’s Rolling Catastrophe

Puerto Rico bondholders are in for an unpleasant start to 2016 as the island announces that it will default on some of its debt payments due on New Years Day.

Puerto Rico Blues
Puerto Rico Narrowly Avoids Default—Sort of

Puerto Rico managed to avoid complete default because of the creativity of its politicians and bankers, not because it suddenly discovered some extra cash or figured out how to balance its spreadsheets.

Puerto Rico Blues
Time to Choose: Statehood or Independence

The U.S. Treasury is considering issuing Puerto Rico a “superbond,” which would give bondholders some security in exchange for taking a haircut. In the long term, however, Puerto Rico should be moving toward either statehood or independence.

Puerto Rico Blues
Liberal Democrats Push Puerto Rico Oversight

The U.S. Congress needs to conduct a thorough review of the policies and laws governing Puerto Rico.

Puerto Rico Blues
Chapter Nine for Puerto Rico?

Puerto Rico needs to have any financial relief tightly tied to serious, far-reaching reforms. Blank check bankruptcy protection, such as the kind being floated by Governor Andrew Cuomo, just won’t do.

Puerto Rico Blues
Treasury Secretary on Puerto Rico: It’s Chapter Nine Time

Treasury Secretary Jack Lew tells Congress no federal bailout for Puerto Rico is in the offing, but urges it to grant the commonwealth access to federal bankruptcy courts instead.

Puerto Rico Blues
A Greece of Our Very Own

Puerto Rico’s governor: We cannot pay our debts. The math doesn’t work.

Puerto Rico Blues
Puerto Rico’s Health Care Woes

Puerto Rico’s finances are already in crisis, but a looming cut to Medicare reimbursement rates might deepen the catastrophe.

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Walter Russell Mead & Staff
The Inauguration

As Donald Trump takes the oath, an essay on the historical forces that have shaped this moment by Walter Russell Mead.


Clearly a lot of frustration for the outgoing American President has been stored up in the Russian psyche.

the roots of populism

If the term “intellectual” only encompasses thinkers on the Left, then it is only natural that right-wing populists would turn it into a slur.

Rebuilding America

Paul Ryan will target $40 in private investment for every $1 his caucus approves in infrastructure spending.

Violence in Myanmar

Many of Myanmar’s long-suffering Rohingyas are now turning to internationally funded Islamist insurgents to resist the government.

The Shale Rebound

Texas’s Permian Basin has been called “the crown jewel of the world’s oil and gas industry.”

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