I’m really concerned about the implications of this. I saw a commercial on TV just in the past 48 hours with a Puerto Rican woman lamenting the fact that her retirement will be based on Puerto Rican bonds that she considered safe, and that at least one of the plans being debated in Congress (I admit I haven’t followed the details of the various plans) would apparently default on the bonds held by many, including ordinary citizens and/or pension funds. The point of the ad was to get people to call their congressmen to lobby against some “solution” being debated in Congress at present. Could this be a trial balloon – a forerunner of things to come in CONUS?
Interestingly, one of Doug Casey’s top people chose to move to Puerto Rico with his (then) new bride just a few years ago, and while he acknowledges that there are some rough spots in PR, they love living there. I can’t believe that between his own training and experience, and that of the rest of the world-traveled Casey Research staff, they didn’t tell him not to even consider the move. I have to wonder what the rest of the story is that we aren’t seeing. Given that CONgress is involved in it, I have to assume that the odor I smell is not unrelated. Sump’n just ain’t right.