Puerto Rico's Sovereign Debt Crisis
lgustaf wrote:People do use,. And they will continue to use no matter how much money the police don't have is spent on "taking down" dealers.
So in your opinion the battle is lost, and drug dealers should be allowed to sell and kill the competition and bystanders in the streets while we do nothing? Do you want them to be taxed and do what when they think the tax is too hig? Do you want them to eliminate the government and let them rule the countries where they live? Is killing your competitors and any in their way of progress a valid business plan?
Criticizing my idea to go after the dealers does not eliminate the problem, give me your solution. I am not perfect, what is your solution?
http://thenewsnigeria.com.ng/2016/04/in … g-dealers/
Furthermore, police budgets would go down, not to mention police power which is ripe for abuse (no-knock raids on the wrong house etc.).
It would also bring addicts out of the shadows. Because of the current illegality, many users with serious problems don't ask for help until it is too late.
I, like you, have no explicit power to make any changes to the law, but I respectfully disagree that ramping up the drug war will do anything to solve PR's debt crisis.
David
It is just an exchange of ideas we do not have to agree, its a conversation. I expect many to disagree. By all means go for it.
The drug dealer sub-subject is because of corruption of judges, politicians, police, etc. Kids that could be doing good in school or college, are selling drugs or acting as carriers. There are a lot of areas in PR that people avoid, these areas and businesses could flourish with some investments, but if people are afraid to go there, then the people will not invest and as such will not create jobs and remain depressed areas.
By the way, I absolutely agree with people doing with their bodies what they want.
The cost of keeping inmates locked up is north of 35K per year.
It would be cheaper to send them to college.
I'm all in-favor of sending bad guys who commit violence to the big house for a long time, but for non-violent crimes we need other avenues.
lgustaf wrote:https://www.youtube.com/watch?v=Tt-mpuR_QHQ
I almost busted a rib laughing, thanks
lgustaf wrote:https://www.youtube.com/watch?v=Tt-mpuR_QHQ
Thanks for sharing this...he did a great job breaking it all down. The first commercials against ch.9 bankruptcy have started appearing in N. California and they are very shady and inaccurate.
Hopefully some people on Capitol Hill are listening...
ReyP wrote:I could be completely wrong.
I hope you are but I'm afraid you're not...
If PR were Saudi Arabia with a big oil interest to the states, it might be a different story.
https://www.youtube.com/user/LastWeekTonight
Also. Dominicans flee Puerto Rico’s stunning crisis: Report
http://www.dominicantoday.com/dr/econom … sis-Report
The PR is on my list of places to frequent in the future. Besides the tourism based economy. it remains a place with potential and many options to explore. Transportation hub.to the DR or USVI via sea. Flights to several other hubs. It is the best thing going in the Caribbean, for now.
It will be difficult to retain the exact same demographics and prosper into solvency. Having a Florida model for retirement could be one of the thousand tools needed improve the longer term trend.
I would not suggest adopting other things from Florida.
Drawing pensioners having social security only, is not a significant advantage. The Dominican Republic, Panama, Costa Rica and a few other places target $1,000 to $2,000 per month population. Longer term, the increase purchase of medical services, food, home care, etc., would provide jobs. The goals is not to see direct taxes from a pension model. It can assist by employing local people and having them pay taxes and make purchases for their living expenses.
We do know that South Carolina would qualify, I wonder what excuse they will use not to apply it to PR which has much greater poverty levels, lost jobs, lost business, on an on an on. There is no comparison in my mind.But heck, what do I know.
Link: http://www.usatoday.com/story/news/poli … /83554552/
ReyP wrote:Only death is guaranteed, the general public in PR are not as investment savvy as the population in the states.
Maybe that has to do with the fact that many here have a hard time paying their bills and survive?
Gary wrote:ReyP wrote:Only death is guaranteed, the general public in PR are not as investment savvy as the population in the states.
Maybe that has to do with the fact that many here have a hard time paying their bills and survive?
Yup, many, not all do not have 2 pennies to rub together. Hard to invest when you eat meat once a week and they are getting ready to cut your electricity due to being behind on the payments.
Wait! ..... The government has that same problem also, not just the people
ReyP wrote:These people had a generous pension, of around 75% of their salary, it was guaranteed by the government, so no need for SSI, they did not use a 401k or 403B, the pension was it. Now at 50 or 60, no job and no pension, and no possibility of SS. You are probably younger, they will never save enough now, the only chance they have is the pension, it was the major perk of the job they did all these years.
I agree with your assessment. I was suggestion attracting people with pensions from outside of the PR system. There are a few instances on the mainland, where pension have been under attack. A federal law was past to reduce pensions for one multi-state pension plan.
It is unethical to reduce a contract to provide a pension, when the people responsible for violating the fiscal solvency are not striped of their pension or charge with malfeasance or misfeasance of their office. This includes many states and counties on the mainland.
Term limits should be added to the constitution of every state and to the US constitution.
So I understand what they are facing, but in their case it is worse as the pension was their only source of income and they have not been bought out either.
But in reality, if people were using 401K, Rough IRA's, paying Social Security Insurance and other tools, the pension would not be needed, unfortunately most people live month to month and they were except from SSI payments, and were not given a 401K to put money into.either so way out of luck now.
Once the Junta comes in and they start reducing the government, a lot more people are going to be in this boat, specially those that were darn close to retirement and now can not have a job and can not have a pension nor Social Security.
I guess the percent of people living below the poverty line is going to go from 45% to 65%. The junta is also talking about reducing the minimum wage and I can understand the reason, but with all the new taxes and prices going up, it is going to be very hard for those young men to make ends meet, so off to Florida, New York and other places or join the Drug Cartels. They have few choices.
NICE!!!!
Being poor, as I have been, can be depressing or a motivator. I hope than Congress can give time to PR and that the Puerto Ricans can see it as an opportionity to think outside the box, assess what PR has to offer (which is a lot IMHO) and do what it takes to make that happen. Recyling waste and materials into energy could make the island self-sufficient (as an island in the Netherlands has done, and actually makes money from selliing off excess energy ) for example.
lgustaf wrote:Recyling waste and materials into energy could make the island self-sufficient (as an island in the Netherlands has done, and actually makes money from selling off excess energy ) for example.
Uhmmm, that's 'round the corner from the Netherlands, in Denmark - the island Samso.
But yes, that would be something. It would take a big mentality change though and we would need to find investors.
http://cb.pr/statistics-institute-net-m … cord-high/
I imagine this is going to increase the number of foreclosures and properties in the market, causing other property values to drop even more than they done over the last 5 years. Bad for some and good for a few that can afford to buy.
http://cb.pr/dealco-opsgdb/
http://cb.pr/san-juan-mayor-proposes-mu … al-crisis/
I agree with her logic, however, it would be more informative to have specifics of a new paradigm.
A control board to override the elected government. It must be a joke, Congress can not found all the money for no bid contracts during the Iraq war. When congress shows a moment of sanity, to properly perform their function. The executive branch hides documents requested by House and Senate oversight committees.
Some group watching the effectiveness of restructuring is critical, to avoid repeating past disastrous judgements is necessary.
A board should have some power of consequences to restrict any inefficiency of the restructuring. Maybe withhold highway transportation funding or something else not involving health and education.
I am not clear if you are pro or against the board. I myself I am on the fence about the board, I see that it is hard to trust the current politicians but I also do not like the totalitarian power they will have. I do not trust that they are not there simply to ensure payment and the hell with the people. That scares me, specially since none of them may be Puerto Rican, or have any interest in seeing that the island progresses outside of getting the money from anywhere to pay the vultures.Just like I don't trust the politicians which are Puerto Rican, I do not trust the board which will be made from who knows whom.
Congress specially the republican party does not seem to care much for what happens to PR other than it does not cause them to loose votes and making the bond holds happy. The people did not waste the money, the politicians did, why should the people suffer.
García Padilla Declares Moratorium on GDB’s May 2 Payment
http://cb.pr/dealco-opsgdb/
I am on the fence also. I do not believe giving the current political system in PR a chance to repeat the financial derailment, is fair to the people.
I do not have a clear and realistic answer. If I did, things would be better in my own backyard.
vagantem wrote:My opinion is aligned with your scepticism of an oversight board. Yes, the republican voice only wishes not to loose an election. All others which do not think as them, and the indifferent majority goes along for the ride.
The PR legislation failed because of lack of support from Democrats. Republicans generally side with Obama on this issue. The Democrats are concerned that allowing PR to restructure will shine too clear a light on the path that the State of Illinois and City of Chicago need to take. If they would do so, it would have to include restructuring the state and city's insolvent pension funds, which public employees' unions don't want to see happen.
ReyP wrote:The fact that the law does not addresses the Jones act, says nothing about fair recalculation of medicare act payments and that does not seem to contain anything that will help PR grow its economy, tells me that this board or junta has anything to do with helping PR.
And, lowering the minimum wage!
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