Blue Island on the Brink
Puerto Rico Hits Junk Status, But Not Rock Bottom
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  • bigfire

    Robert Mugabe have been trying to destroy Zimbabwe since 1980. He hasn’t totally succeed yet, not for lack of trying. Puerto Rico doesn’t have that kind of leadership (unlike Argentina) at the helm for total destruction, so it will take a while to reach that financial nirvana.

    • Andrew Allison

      You standard for total destruction is pretty high!

  • Andrew Allison

    Time to break out the cat-o-nine-tails again! Puerto Rico is NOT a municipality (neither is Guam), and its debt is much larger than any such. This post repeats the mistake of previous ones in assuming that the steps which Puerto Rico has takentoward reducing its budget deficit and reforming its ruinous pension systems will actually be implemented (think Greece).

  • TommyTwo

    “Puerto Rico has taken steps toward reducing its budget deficit and reforming its ruinous pension systems”
    “Puerto Rico Hits Junk Status”

    See?! See what happens when your beloved savage austerity gets implemented?! [/sarcasm]

    “After decades of financial recklessness, you don’t hit rock bottom as quickly as you might like.”

    I understand what you mean, but… 🙂

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