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Puerto Rico Blues
Puerto Rico Blues
The Biggest Public Bankruptcy in U.S. History Is Underway

Puerto Rico’s debt crisis is a case study in blue model failure.

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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Recent Via Meadia
Walter Russell Mead & Staff
Crude Economics

The decision to extend production cuts was as predictable as it was desperate.

deep state

The Manchester leaks are the product of a dangerously arrogant and unaccountable intelligence community.

Better Late Than Never

More, please.

markets

The share of people who benefit from the stock market should be widening, not contracting.

Market Failure

The EU’s ailing Emissions Trading System is looking more useless than ever before.

Settled Science

Our worst-case climate scenarios are relying on outdated, incorrect coal data.

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