Don’t kid yourself. The Puerto Ricans are still expecting Daddy Yankee to bail them out of the mess they’re in.
And they just cannot understand why they should not have the same standard of living as the U.S. does.
This is a preview of what is coming for failed cities and states on the US mainland.
The Governor is taking a risk. Puerto Rico securities are widely held among pension and mutual funds and Congress has the constitutional authority to revise or revoke the powers of self-government currently exercised by the government of Puerto Rico.