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Is Puerto Rico’s Economic Collapse A Ploy By Liberals To Permanently Shift The Balance Of Power In Congress?

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Next month, citizens of Puerto Rico are going to vote on statehood, and the absolutely devastating economic collapse that is gripping the island could be enough to push pro-statehood forces over the edge to victory.  Of course Congress has the final say on whether Puerto Rico becomes a state or not, but it is going to be very difficult to deny Puerto Rico’s 3.4 million residents statehood if they strongly insist that they want it.  Needless to say, if Puerto Rico becomes the 51st U.S. state that would greatly benefit the Democrats, because the population of Puerto Rico is very liberal.

Puerto Rico does not get to vote in presidential elections, but they do help select the nominees for both parties.  In 2016, 58,764 votes were cast in the Democratic caucuses held in Puerto Rico, and only 36,660 votes were cast in the Republican primary.  As a state, it is doubtful whether Puerto Rico would send any Republican lawmakers to Washington for decades to come.

So if Puerto Rico becomes a state, the Democrats would add two new senators and probably four or five representatives.

Puerto Rico would be the 30th largest state in the entire country, and so it would instantly have more political power than 21 other U.S. states.

This upcoming vote on June 11th is going to be extremely important, and pro-statehood forces are working very hard to get a positive result.  The following info about the referendum in June comes from Wikipedia

The fifth referendum will be held on June 11, 2017 and will offer two options: “Statehood” and “Independence/Free Association.” It will be the first referendum not to offer the choice of “Commonwealth.” Newly-elected Governor Ricardo Rosselló is strongly in favor of statehood for Puerto Rico to help develop the economy and help to “solve our 500-year-old colonial dilemma … Colonialism is not an option …. It’s a civil rights issue … 3.5 million citizens seeking an absolute democracy,” he told the news media.[30] Benefits of statehood include an additional $10 billion per year in federal funds, the right to vote in presidential elections, higher Social Security and Medicare benefits, and a right for its government agencies and municipalities to file for bankruptcy. The latter is currently prohibited.[31]

At approximately the same time as the referendum, Puerto Rico’s legislators are also expected to vote on a bill that would allow the Governor to draft a state constitution and hold elections to choose senators and representatives to the federal Congress.[31]

Over the past decade, Puerto Rico has been suffering through a nightmarish economic recession that never seems to end.  The island was recently forced to declare the equivalent of bankruptcy because it is facing $123 billion in debt and pension obligations.  At this moment 46 percent of the residents of Puerto Rico are living below the poverty line, the unemployment rate is 11 percent, and authorities just announced that another 179 public schools will be closing down.

It has been argued that the Obama administration could have done much more to alleviate the economic problems in Puerto Rico but that it purposely chose not to do so.

Why?

Well, the worse economic conditions get in Puerto Rico, the better it is for pro-statehood forces.  Puerto Ricans are being told that becoming a state is the key to Puerto Rico’s long-term economic future, and at this point many are willing to do just about anything to get the economic suffering to end.  The following is a short excerpt from a New York Times article entitled “Amid Puerto Rico’s Fiscal Ruins, a New Push for Statehood“…

A vigorous push for statehood was a central campaign promise of Gov. Ricardo Rosselló, 38, who was inaugurated in January. Next month, he will ask residents to vote, in a nonbinding referendum, for statehood as part of a long-term fix for a commonwealth facing a period of severe austerity that is likely to include shuttered public schools, frozen salaries, slashed pensions and crimped investments in public health. The island remains in the grip of a recession that has lingered for much of the past decade.

Could it be possible that this is what liberals have wanted all along?

Could it be possible that Obama and his minions saw Puerto Rico as a chess piece that could be used to permanently shift the balance of power in Congress?

Of course if Puerto Rico becomes a state that would have implications for presidential elections as well.

In the end, it will be Congress that decides what the fate of Puerto Rico will be, but if the people of Puerto Rico truly want to become the 51st U.S. state it is going to be really hard to deny them that opportunity indefinitely.

Last year at their national conventions, the Democrats and the Republicans both took the position that the citizens of Puerto Rico should be able to make this decision for themselves.  But once faced with a final decision, it is inevitable that many Republican members of Congress would be opposed to statehood.

Personally, I believe that either independence or “free association” would be much better for Puerto Rico, and let us hope that the people of Puerto Rico choose that direction.

But when people are really hurting, they will often grasp any sort of olive branch that is being offered to them, and right now the progressives are really pushing statehood.

Of course for strategists on the left, the goal is not to help the suffering people of Puerto Rico.

Rather, the endgame is complete domination of the U.S. political system by any means necessary.

 
  • Guest

    “Benefits of statehood include an additional $10 billion per year in federal funds, the right to vote in presidential elections, higher Social Security and Medicare benefits….”

    Oh, great. Just what we need: more people receiving Social Security and Medicare, both of which are insolvent. It irks me that every week Social Security and Medicare taxes are withheld from my earnings because I am almost certain that, at 41 years of age, I will never see that money again. But it belongs to me. I earned it. I hate paying into that Ponzi scheme known as Social Security.

    • JC Teecher

      If you think that is enough to make you want to puke, imagine if you had worked since age 15 and have become unable to work at age 56. You paid religiously into a system that was supposed to allow you to have those funds to live off of when you became unable to make any $$ from any source.
      A friend of mine has been unable to work for over four years, has sold off everything but his older mobile home and a couple acres, and the system that took his money every paycheck, says he isn’t disabled enough to receive “his” money. Six different times he has tried, yet he sees immigrants, that have nothing wrong with them physically, get twice of what he would qualify for, of his own money. he sees the system working in favor of those that have contributed “nothing” towards American society, and yet he struggles each day.
      Now they are saying his EBT benefits will be cut off, because he has not been determined to be disabled by bureaucrats, behind a desk. A sad situation.

      • TOUJOURS DEMAIN

        Why the Amphitrite lighthouse for an avatar?

        • JC Teecher

          Because; It is the opposite of the darkside which I believe yours represents. lol

      • Stuey

        This country supports immigrants, both illegal and legal, much much more than they do their own citizens.

      • none

        Well YAA like do you know how hard it is for illegals to got jobs?
        If we didnt give them money, housing, food stamps. Them they would have to end up working for a gang!
        Can you see how much we save?

    • “V”

      100% AGREE with you sir, my feelings exactly.

  • Jill

    Whereas many democrats have long stated a desire for Puerto Rican statehood, there is no nefarious plot afoot to collapse their economy. Their leadership sought to buy loyalty with benefits and their populace voted out of greed. They are no different than European countries and progressive cities who have spent themselves into oblivion, compounding their woes by refusing to act with prudence.

    • socalbeachdude

      Yep, 100% correct.

    • sister soldier

      Well said.

    • Big E

      That is so true. There is a lot of corruption on the island.

  • A.S.

    What is the benefit of not being a state, then? Why couldn’t PR become a state 10 years ago or 20 years ago? Why couldn’t the people vote for statehood then?

    • socalbeachdude

      Nobody in the USA wants Puerto Rico as a USA state.

  • JC Teecher

    Like I have said, when Trump is gone, there will be no more chance at ever regaining control of the gov. The liberals will make dang sure that they will continue in control, and take us into the beast system of gov, via the UN. Collapse of society as we know it today will be gone forever, until the King returns. Puerto Rico just may play a big part of that agenda.

    Got funds? Better prep, pray, and then play your azzes off while you can.
    Want to get those things checked off the ole bucket list? Better get cracking before the liberals get full control again.
    Spend your hard earned dollars on yourself and family, or help others that are destitute and down and out. Pay tithes to a truth teaching ministry or international Christian missionary group. Take those dream vacations before the gov liberals tax you out of existence, because the tax and spend gov will come back with a vengeance. They will reverse every tax break that D Trump gets passed, and increase it by 50% more than it is now.
    Why?
    They have an agenda of which they are obliged to deliver on, and it is called the dissolution of the middle classes. there is only one way to do it and make up for the lost time because of the trump win, and that my friends is to tax these classes out of existence.
    They want a socialist America so they, the liberal elite, can dictate what everyone else will have, not have, and what they must do to receive what the elite say they can have.

    The liberals like the media, and the follywood types, believe they will have a part of the controlling status leadership. They are wrong, as the leaders of the world elite are just a fraction of the 1/10th of 1 %, that think they are going to rule the world. Everyone else is dispensable after they have achieved their goals.

    Socialism is coming. After that comes Communism/Dictatorship. After that comes ruination of the nation, and the abomination by the Desolator. But after that..LIGHT!

    • socalbeachdude

      Trump may be gone within a few weeks at the rate the DUMP TRUMP IMPEACHMENT MOVEMENT is very rapidly gaining steam and heading towards Donnie!

    • James

      Downstate NY is propspering under Dem leadership.
      Upstate NY under Rep leadership is a place of poverty, alienation, and drug abuse.

  • TOUJOURS DEMAIN

    I am “strongly considering” running for congress in Puerto Rico in 2018 if it becomes a state.

    • aldownunder

      Give Micheal a call

      • Copy/Paste

        It’s “M ichael not “M icheal.”

  • more FSA recuits

    half of puerto ricans on welfare,makin them a state just brings the other half into the democratic public assistance matrix like california or new york ,dems strategy is get populace hooked on those gov’t checks, gov’t handouts, them u own them,that’s how progressive retain power,it worked like magic for obama

  • Scott

    Puerto Rico has voted in the past for statehood but failed to get it. Not happening.

  • socalbeachdude
    • Stuey

      What the hell does any of these articles have to do with the subject of this article? Quit spamming the comments section with things that don’t have anything to do with the article.

  • socalbeachdude

    There is absolutely ZERO CHANCE that Puerto Rico will become a state of the USA.

    • StephaneDumas

      I think it’s better for Puerto Rico to get independence instead of statehood.

    • Pete

      Not only Puerto Rico is an economic basket case but it also culturally different from America.

      It should no more be a state in the union then Timbuktu.

  • socalbeachdude

    LOUD SHOUTING AND CHAOS IN THE WHITE HOUSE…

    White House aides ‘hiding in offices’ and blaring TVs to ‘muffle the sounds of shouting’: How the West Wing reacted to claims of Trump leaking classified information to Russia

    As reports of Trump released classified information to Russia broke, White House aides were ‘hiding in offices’ and turning up the volume of televisions to mask the sound of shouting.

    http://www.dailymail.co.uk/news/article-4510100/How-West-Wing-reacted-newest-Trump-Russia-claims.html

    • Stuey

      What the hell does this have to do with the subject of this article? Quit spamming the comments section with things that don’t have anything to do with the article AH.

  • socalbeachdude
    • Stuey

      What the hell does this have to do with the subject of this article? Quit spamming the comments section.

      • GoinSheep

        Would you like some cheese w/that whine?

  • socalbeachdude
  • socalbeachdude

    New Push for Statehood Amid Puerto Rico Fiscal Ruins…

    https://www.nytimes.com/2017/05/16/us/puerto-rico-statehood.html

    • Stuey

      wow…….something about PR……..amazing

  • socalbeachdude

    Puerto Rico’s Bankruptcy Fight Is About to Plunge Into the Unknown

    Bondholders push competing claims but island may void them all

    ‘This is a government restructuring, not a court one’

    Puerto Rico’s status as a commonwealth means it’s not subject to traditional bankruptcy laws. Instead, the island filed for the next best thing to deflect claims, called Title III. It’s an in-court restructuring based on the U.S. bankruptcy code that was created under Puerto Rico’s Promesa law last year. But it’s never been used before, which means any cuts imposed by U.S. District Court Judge Laura Taylor Swain will be more likely to face years of appeals than a typical case.

    Dealing with Puerto Rico’s crushing debt has started to resemble a circular firing squad.

    Simply put, the bankrupt island can’t pay everything it owes, so creditors are taking aim at each other as they squabble over who will get what’s left. But the debt’s size and the tangled process invented to rescue Puerto Rico mean there’s no established rule book to shape what comes next.

    Holders of general-obligation debt have declared their right to be paid first, owners of sales-tax bonds are squabbling with one another over who deserves priority, and they’re all up against the commonwealth’s leaders, who want the cash for essential services. Amid this melee, Puerto Rico’s federal overseers will have to choose between paying U.S. hedge funds everything they’re owed or keeping schools, water and electricity running.

    All told, Puerto Rico has about $74 billion in debt and $49 billion in pension liabilities. Hedge funds holding $1.4 billion of general-obligation bonds, including Aurelius Capital Management and Monarch Alternative Capital, have already sued to get overdue principal and interest. On the other side, owners of $17 billion in sales-tax bonds, including Tilden Park Capital Management and GoldenTree Asset Management, have entered the fray. They’ll meet for the first time in court on May 17 in San Juan.

    The territory owes all bondholders $33.4 billion in debt payments between now and 2026, according to the plan, but it proposes to pay only about $8 billion. The government hasn’t said how bondholders should divide those payments, or which group is first in line.

    “This is a government restructuring, not a court one, so the government will be in the driver’s seat,” Fabian said. “Creditors will not be heard to the extent they’re saying, ‘let’s do it a different way.’ Those arguments won’t have any standing in a court.”

    https://www.bloomberg.com/news/articles/2017-05-11/puerto-rico-debt-donnybrook-kicks-off-with-squabble-over-default

  • socalbeachdude

    Puerto Ricans Face ‘Sacrifice Everywhere’ on Insolvent Island…

    https://www.nytimes.com/2017/05/06/us/puerto-rico-insolvency-business-owners-anxiety.html

  • socalbeachdude

    Puerto Rico to close more than 180 schools leaving 27,000 pupils in limbo, with the island’s low birth rate and economic crisis blamed for cull as thousands move to US mainland

    It is the largest mass closure of schools ever announced in the history of the US territory. Education Secretary Julia Keleher will ‘soon’ provide more details about the closures.

    http://www.dailymail.co.uk/news/article-4477746/Puerto-Rico-close-180-schools.html

  • socalbeachdude

    The best thing the USA should do with Puerto Rico is to EXPEL IT AS A TERRITORY OF THE USA and make it become its own country or get annexed by any other country willing to take it.

    • Stuey

      Why would a liberal like yourself believe this? PR will vote right along with your home state of CA. They would gladly vote for your men Brown or Nader.

    • Robert Peters

      absolutely become ti’s own country!

  • socalbeachdude
    • Stuey

      Spam Spam Spam

  • socalbeachdude

    US stock futures, dollar fall on rising concerns over Trump

    http://www.reuters.com/article/us-global-markets-idUSKCN18D01B

    • Stuey

      This article is about PR not stock futures.

  • socalbeachdude
    • Stuey

      Off topic spam by the spammer.

  • socalbeachdude

    ‘Looking Like a Liar or a Fool’: What It Means to Work for Trump

    https://www.nytimes.com/2017/05/12/us/politics/trump-sean-spicer-sarah-huckabee-sanders.html

    • Stuey

      More spam. Spam Spam Spam is all you do.

  • socalbeachdude

    GOP nears total exasperation with Trump

    Exasperated Republicans in the House and Senate are growing tired of having to defend President Trump. Daily dramas from the White House are increasingly frustrating Republicans on Capitol Hill and threatening to derail the party’s agenda.

    http://thehill.com/homenews/house/333752-gop-nears-total-exasperation-with-trump

    • Stuey

      More off topic spam from this AH.

  • socalbeachdude
    • Stuey

      What the hell does this have to do with the subject of this article? Quit spamming the comments section with things that don’t have anything to do with the article. You should be banned.

      • JC Teecher

        SBD is proley one of two things, and possibly both.

        He has a chemical imbalance.
        I have him on block 99.9999% of the time, but when I suspect something vile coming towards me, I check to see what his latest indictment is.
        Last week or two, he called me out for posting something that he called totally irrelevant to the topic of the article.
        Now, here you see, he does it all the time.

        The other thing I believe he is, is a paid troll, and when anyone clicks on one of his links, they are automatically triggering an NSA spyware.
        That is why he is so spastic with trying to push people’s buttons, so they loose it and say hate speech, that may or may not be used against them later on.
        Everything we type, and speak over devices, is being recorded for our bio-profile stored in the Utah mega computer.

        Do I give a sheet, hell no, as I am basically ready to go down in a blaze of glory, if need be. I have lived, seen, and enjoyed twice as much as 90% of people on earth. I don’t really care who I offend any more, but I don’t necessarily go out of my way to offend anyone, as I just speak truth as I understand it, and receive it.
        Have a good one!

        • Stuey

          Interesting. I am glad i never clicked on any of his links anyway because they are never relevant to the conversation.

          • socalbeachdude

            You no doubt prefer as much IGNORANCE as you can possibly seek refuge in!

        • Spartan

          My first response to you went to moderation so I’ll try again. A couple of months ago socalbeachdude replied to someone saying he was a “Trust Fund Baby” so he has no need to work and spends basically 24/7 on this website filling it with spam.

          • Stuey

            That explains a lot.

          • socalbeachdude

            Totally FALSELY.

          • JC Teecher

            Yep, and proley wasting most of that trust fund $$ on drugs like meth and crack, as he seems to have an insane amount of energy 24/7

          • socalbeachdude

            Absolutely false and extremely stupid, bogus, and defamatory assertions by you.

        • socalbeachdude

          What utterly clueless and inane nonsense.

  • socalbeachdude

    Republicans line up to distance themselves from Trump after Russia leak, as a second House Democrat comes out for impeachment and McConnell demands less WH ‘drama’

    Republicans are lining up to either challenge President Trump’s actions as after he acknowledged passing information to the Russians in the Oval Office.

    http://www.dailymail.co.uk/news/article-4511284/Republicans-distance-Trump-s-Russia-leak.html

    • Stuey

      More off topic spam.

      • GoinSheep

        That sex we had the other day was great.

  • socalbeachdude

    CLUELESS DONNIE: TRUMP DUMPS ISRAELI PROPAGANDA DATA ON RUSSIA…WITHOUT EVEN KNOWING IT CAME FROM ISRAEL…

    McMaster says Trump’s intelligence sharing with Russia was ‘wholly appropriate’ – but admits the president ‘wasn’t even aware’ of which foreign source the information came from

    The president’s national security advisor says Donald Trump’s information sharing with the Russians was ‘wholly appropriately’ and it did not harm national security.

    He would not say from the White House podium whether the information that Trump gave the Russians was classified at the time and revealed as he left the briefing room that the president ‘wasn’t even aware’ of where the information came from.

    ‘What we don’t do is discuss what is and what wasn’t classified,’ H.R McMaster said. ‘What I will tell you that in the context of that discussion, what the president discussed with the foreign minister was wholly appropriate with that conversation and is consistent with the routine sharing of information between the president and any leaders with whom he’s engaged.’

    His comment that Trump didn’t know the source of the information means the president could not have known at the time whether the information he was giving out would jeopardize the United States’ relationship with the foreign ally who is said to have provided it.

    http://www.dailymail.co.uk/news/article-4511760/WH-Trump-s-information-sharing-wholly-appropriate.html

    • Stuey

      Is this article about Israel or PR?

  • socalbeachdude

    FLOOD OF LEAKS: Frustration abounds in White House…

    http://thehill.com/homenews/administration/333529-frustration-abounds-in-trump-white-house

    Anonymous aides talk fatigue as tempers flare…

    https://www.nytimes.com/2017/05/16/us/white-house-staff.html

    • Stuey

      What does this have to do with the subject of PR becoming a state????

      • socalbeachdude

        Under no circumstances will Puerto Rico become a state in the USA.

  • socalbeachdude

    Exhausted Republicans Are Starting To Get Fed Up With The Chaos Coming From The White House

    There’s been widespread frustration with the lack of information coming from the White House, and several Republicans are making the political calculation that defending the president before they have all the facts may not be the best idea.

    https://www.buzzfeed.com/tariniparti/exhausted-republicans-are-starting-to-get-fed-up-with-the?utm_term=.dcong9Q8W#.ek26laB4y

    • Stuey

      So what, what does this have to do with the topic of PR?

      • socalbeachdude

        The White House has lost power to do anything about Puerto Rico. Hellloooooo?

        • Stuey

          duh…..congress would vote on it first…learn the process….the white house having anything to do with this topic is way down the the road…….so just more spam BS by you to slam Trump

          • socalbeachdude

            What utter nonsense, dude.

  • socalbeachdude

    State of Denial: The Economy No Longer Works As It Did in the Past

    There’s no Plan B for a state-corporate form of central-planning capitalism that is no longer functioning.

    If there is one reality that is denied or obscured by the Status Quo, it is that the economy no longer works as it did in the past. This is the fundamental economic context of our current slide into political-social disintegration.

    The Status Quo narrative is: the policies that worked for the past 70 years are still working today. Boiled down to its Keynesian state-corporate essence, the Status Quo economic narrative is simple:

    All we need to do to escape a “soft patch” (recession) is for governments to borrow and spend more money to temporarily boost incomes and demand until the private sector gets back on its feet and starts borrowing and spending more.

    To help the private sector, central banks lower interest rates so it’s cheaper to borrow and spend.

    As soon as the private-sector borrowing and spending rises, we can raise interest rates and trim state fiscal stimulus (i.e. governments borrowing and spending trillions more than they did before the recession).

    But the inconvenient reality is these Keynesian policies no longer work. Fiscal stimulus (governments borrowing and spending trillions more than they did before the recession) has continued for a decade–or in Japan’s case, almost three decades.

    The Keynesian gods have failed, but the worshippers of these false idols have no other form of black magic to turn to.

    So, what lies ahead?

    http://charleshughsmith.blogspot.com/2017/05/state-of-denial-economy-no-longer-works.html

    • Stuey

      And what does this have to do with PR?

      • socalbeachdude

        This is highly relevant to the economic collapse going on inside Puerto Rico. Helllloooooo?

        • Stuey

          It has nothing to do with Puerto Rico, just more spam from you. Quit spamming the comments section with your unrelated BS!!

  • socalbeachdude
    • Stuey

      What the hell does this have to do with the subject of this article? Quit spamming the comments section with things that don’t have anything to do with the article.

  • socalbeachdude

    DJIA futures down 96 points, or 0.5%, to 20,839
    http://www.marketwatch.com/investing/stock/ymm7

    Nasdaq 100 futures fall 25.25 points, or 0.4%, to 5,699
    http://www.marketwatch.com/investing/stock/nqm7

    • Stuey

      And this is relevant to PR how?

      • socalbeachdude

        Puerto is the largest bond default in the history of the USA and will have substantial implications for the markets. Hellllooooooo?

        • Stuey

          And you are trying to imply that the vote coming up in June on Puerto Rico caused the stock market to drop yesterday???? Total ridiculous and absurd, quit spamming the comments section with your unrelated BS.

  • socalbeachdude
    • Stuey

      What does this have to do with the topic at hand???

      • socalbeachdude

        Obviously everything. Helllooooo?

        • Stuey

          So the stock market has something to do with Puerto Rico becoming a state??? Why don’t you stick to comments related to the article and quit spamming this comments section with your non related links.

  • socalbeachdude

    It’ll cost you $2.5 million to live in this mobile home in a trailer park in California

    Welcome to the world of the seven-figure mobile home.

    https://moneyish.com/splurge/itll-cost-you-2-5-million-to-live-in-this-mobile-home-in-a-trailer-park-in-california/?Mod=mktw

    • Paul Anders

      Only in the land of fruits and nuts…

    • Stuey

      What the hell does this have to do with the subject of this article?

      • SmallerGovNow2

        what are you? the comment police?

        • Stuey

          Yes, when this AH is totally spamming the comments section with articles that are in no way related to Mr. Synder’s article. Just scan down, he has spammed and spammed and spammed. It has gotten totally ridiculous.

      • none

        I could see him posting something like.
        Notice how in that one add featuring Elen Degeneres. The one where she is kissing some guy, then has that blond girl pawing her.
        Notice how her makeup, is exactly like Chelsea Clinton? Who is featured in her add?
        Notice Chelsea’s simple unkempt hair style? Why would the presidents daughter need to? Kind of makes you wonder Hugh *GRIN*.

  • socalbeachdude
    • Stuey

      What does this have to do with PR????

  • socalbeachdude

    Trump Facing ‘Shark Tank’ Feeding Frenzy From ‘Military Industrial Media’

    https://www.rt.com/op-edge/388578-trump-russia-shark-tank-media/

    • Stuey

      What the hell does this have to do with the subject of this article? Quit spamming the comments section with things that don’t have anything to do with the article AH.

      • socalbeachdude

        Read the current headline article and I think you’ll find the answers there and you might even learn something about today’s breaking news!

        • Stuey

          Anyone who clicks on any of your links is a fool for reasons that have already been expressed by others on here.

          • socalbeachdude

            Really? Links like Bloomberg, AP, CNBC, WSJ, MarketWatch, RT, and other excellent web sites with real information? I do suppose they might seriously damage your karma with REAL INFORMATION which is why they are “dangerous” to you!

  • Nonya

    So we’re now going to support another group of ‘immigrants’ who refuse to find ways to support themselves? Why would anyone in their right mind agree to shackle themselves under the idiotic and cumbersome laws that we have when the US is also going over the waterfall? Don’t they realize we will just take them with us and then they will ‘own’ their share of the debt the US has acquired in the last century? Do they realize if they are a state, they will lose businesses that are there due to the favorable tax benefits they have as a territory and more companies will be shuttered?

    • socalbeachdude

      100% correct, and a very key point as to Puerto Rico losing its current favorable tax benefits for companies if it tries to become a state.

    • James

      You realize that Puerto Rico is a part of the United States that is taxed but has no representation in Congress?

  • socalbeachdude

    Is Trump turning on Jared? ‘Sour and dark’ president has unleashed his fury on his White House staff – including his son-in law – following Russia revelations

    As news broke of reports that President Donald Trump revealed highly classified information to Russian officials last week during a meeting in the West Wing, White House aides were ‘hiding in offices’ to avoid speaking to the press.

    The President is said to have become ‘sour and dark’ and has turned against his staff, including son-in-law Jared Kushner.

    The White House’s communications team attempted to drown out shouting with a blaring television after reporters claimed to hear yelling coming from a room that Spicer, Steve Bannon and Deputy Press Secretary Sarah Huckabee Sanders were in during the chaotic night.

    Reporters also had a surprise encounter with Trump’s top national security adviser, HR McMaster, who told them that the West Wing was the ‘last place in the world I wanted to be’.

    http://www.dailymail.co.uk/news/article-4510100/How-West-Wing-reacted-newest-Trump-Russia-claims.html

    • Stuey

      What the hell does this have to do with the subject of this article? Quit spamming the comments section.

      • socalbeachdude

        The White House is now in total chaos which affects just about everything. Helllooooo?

        • Stuey

          effects everything so that is related to Puerto Rico?? haha……you are hilarious

  • ISA41:10

    Liberalism is straight from the pits of Hell!!!

  • tacoma

    Now that American colony Puerto Rico is bankrupt, an excellent opportunity becomes viable.

    To become a U.S. state? Hell no. Both sides don’t want that dumb nonsense.

    To join Cuba!! Two former pieces of the Spanish Empire rejoin in the 21st century. Not rich but a whole lot happier. Money can’t buy happiness. Especially for bankrupt Spaniard from near-bankrupt America.

    But if you ask me, I prefer decedents of the Mayan civilization should be offered Cuba and Puerto Rico as their new homeland.

    • socalbeachdude

      Bravo!!!

  • BS1986

    NO. Not a chance in hell. THey can want all they want but that’s all they will do-that country is a wreck why do we the tax payer always have to clean up leftwing mess.

  • Paul Patriot

    I vote to set PR free and make it its own nation.

    I have seen the destructive transformation that Puerto Ricans have done to many New England States. They are lazy, entitled, violent, and in great need of an attitude adjustment.

    Of course, the DEMONcratic, socialist “leaders” of those States are also to blame for allowing them to get away with their whiney, arrogant, entitled ways by creating a welfare state , where many generations are on welfare thanks to liberal bleeding heart policies, take from the tax payers and give to the leeches of society.

    Holyoke, Mass. Is one of hundreds of cities that have become welfare cesspools, with mostly Puerto Rican recipients. In fact Holyoke had the highest rate of in wed pregnancies in the entire state of Mass. For several years running…..this tells a lot about the quality of people who occupy these cities, of course drug use and crime is also very high.

    Bon voyage Puerto Rico, enjoy your own nationhood!

    • number 6

      They have ruined Allentown, PA.

      Puerto Rico’s labor participation rate is a measly 40% – it’s always been lower than almost all nations.

      Making them a state will just be another ‘load’ – a mini Mexico.

      • Big E

        Yeah, let’s send them back to where they came from, along with the blacks, Mexicans and everyone that doesn’t fit your description!!!

    • Big E

      LOL, Really???? Fortunately it’s not up to you. In your dreams buddy…Get ready Baby, 51rst state here we come!!!!

    • James

      We all know about the democratic failures of NYC, SF, LA, Miami, Seattle, Charlotte, and SJ. //sarc over

    • James

      have done to many New England States.??

      Delaware has more business incorporations out of any state.

      Southern Maine (ME -01), represented by democrats is doing great. Thriving cities.

      NH, RI, VT are prosperous.

      CT is a hub of finance.
      NJ is a hub of research.

  • Jeff

    Puerto Rico is a perfect example of what I think a lot of these problems fall under. Overpopulation and automation of hard work requiring the less educated, less skilled workers to be basically trapped. The country was a nice rural country 50 years ago… now it’s an overpopulated mess with the bottom 50-60 percent trapped and going nowhere.

  • Stuey

    PR citizens pay into and receive social security. They pay 3.7 billion in federal taxes but do not have to pay federal income tax to the US Treasury. PR receives medicaid monies for the US. Either make them a state or totally stop all involvement of the US with them, they are in some weird limbo situation as it is now.

  • Lou Seefer

    I’ve stopped reading SocialBitchDudes posts. When he finally has something to add to the conversation I won’t even know it because I’m tired of reading his spam. I don’t even flag his posts anymore. I see the name and just skip it.

    • Stuey

      Yeah, his spam has gotten totally out of control and ridiculous. Why it is allowed to continue i have no idea.

    • Guest

      I’m surprised that the owner allows him to do it.

    • Duh Doi

      Just click the little triangle on the far right side of the screen beside one of his comments and select block user.

      • Babycatcher

        Thank you! I just did. Didn’t know about this option earlier, thanks!

      • socalbeachdude

        Ignorance is bliss for you apparently, just like an ostrich with its head in the sand while a huge garbage truck comes barreling towards it. Sad.

    • socalbeachdude

      All of the topics I’ve posted as they were breaking for the past 12 or so hours on are now covered in the lead article here on the ECB which I would suggest you go read and attempt to learn about them now that an article has been written to specifically cover those topics which have unfolded today and which are quite catastrophic.

  • Cal

    Financial Armageddon has begun. Call on the name of the Lord to save you. Praise the Lord! Jesus loves, forgives, heals and saves.

  • LIZ THE SHIZ

    duh, yup this and add in allowing in all the illegals who the DNC will register and drive to the polls and told to vote Democrap and you got an overwhelming majority despite the electoral college , as they said in West Side Story, the PR’S sang “everything free in America”

    • Stuey

      very true………which will just cause the economic collapse to come that much sooner.

    • James

      Let me get this straight…
      the DNC can organize millions of illegals voting yet fail to mobilize their illegal voters in Florida, Pennsylvania, and Ohio?

    • James

      And Republican directors of election in Georgia, Texas, Florida, and Arizona don’t catch them?

    • James

      And the Bush admin couldn’t find any of them?

  • Jarhead0369

    Progressives (Socialists) simply can’t admit they were wrong, so they double down on things that didn’t work. Venezuela? Cuba? South Africa? Zimbabwe? Lots more…

    It ain’t working too well here either.

  • Duh Doi

    If anyone is tired of seeing socalbeachdude’s posts all you have to do is click the little triangle on the far right side of the screen beside one of his comments and select block user.

    • Stuey

      I am tired of seeing the spam with all the post that have nothing to do with the topic of the article. If he wants to contribute with comments relevant to the discussion i am fine with it, although i don’t agree with 99% of it and he contradicts himself many times. I could block him, but that doesn’t mean his comments are not there, just that i can’t see them and i want to see his relevant post so i can continue to destroy his opinions. I don’t know who moderates this page but in my opinion they should delete his spam post. But that is not up to me, if they want to continue to let one person ruin their comments page that is up to them. Maybe all that matters is the number of comments they get rather it is spam or not.

      • socalbeachdude

        All of the material in my posts over the past 12 hours as they were breaking are now the topic of the current headline article here on the ECB and I would suggest you go read it and attempt to actually learn something!

        • Stuey

          irrelevant to the topic at hand……which is Puerto Rico…..look it up on a map to get a clue.

  • Duh Doi

    socalbeachdude has 99,124 upvotes out of 76,456 comments. 99,124 – 76,456 = 22,668. Since socalbeachdude always upvotes every single one of his comments that means socalbeachdude only has 22,668 upvotes out of 99,124 comments. BAHAHAHAHAHAHAHAHAHAHA!!!!!

    • Duh Doi

      Also don’t forget the possibility that socalbeachdude could also have other accounts created just to Upvote his own comments so the upvotes on his original account could technically be even less. Hahahahahahhahahaha!!!!

      • Stuey

        I wouldn’t doubt he has multiple accounts. Anyone who upvotes every comment they make themselves must be off to some degree and would probably not think twice of having multiple accounts.

        • socalbeachdude

          Absolutely false.

          • Stuey

            What is false? That you upvote everyone one of your post or because of that you are a nutjob.

          • socalbeachdude

            That certainly does describe YOU perfectly!

          • Stuey

            I guess that why many on here are discussing your possible mental disorder.

          • socalbeachdude

            Thank you for again describing YOURSELF and your issues.

      • socalbeachdude

        Absolutely false and utterly delusional nonsense.

        • Duh Doi

          LOL. You Forgot to “UPVOTE” your comment!

  • Zlatko Milanovic

    I don’t know whether to make a joke and say “Yes of course it’s a liberal plot! How did you figure it out, you sneaky devil?”, or to laugh with derision at your paranoid delusions. Un-freaking-believable. Bed bug nuts. I’m gonna laugh with derision, because it really is a ridiculous paranoid fantasy. You’re making yourself sick worrying about stuff that’s not true, stuff you make up in your head.
    “Could it be possible that this is what liberals have wanted all along?”
    Good grief. See a psychiatrist.

  • Babycatcher

    Really? It’s a separate country, should not be a territory of the US, so we should let it go, and let it sink or swim on its own merits, or lack thereof. If we are enablers, then they will never learn to budget, save or work hard. They will always be a drain on our economy. Whose idea was this, anyway? I’m writing my congresscritters today and letting them know how I feel.

  • socalbeachdude

    SS TITANIC TRUMP IN PERIL OF SINKING…

    ‘SABOTAGE’ IN DC…
    Media Reach Peak Meltdown…
    Republicans offer NO help…
    HOUSE OVERSIGHT WANTS COMEY TO TALK NEXT WEEK…
    WELCH: Impeachment would ‘blow market away’…
    UK BOOKIES: HE WON’T LAST…
    McCain stokes…
    Comey asked to testify; Memos sought…
    Right pushes Trump to make staff changes…
    MORE WEST WING LEAKS: ‘I feel like running down hallway with fire extinguisher’…
    WSJ: Loose Lips Sink Presidencies…
    TRUMP FIGHTS…
    WHAT NEXT?

    https://apnews.com/d4ea16a1e9fe46deb0b1107c6fed30e6/Embattled-White-House-lurches-from-crisis-to-crisis

    • Stuey

      more spam

      • socalbeachdude

        100% relevant to the key events of the day which are now the basis of the current headline article here on the ECB. Go read it and learn something.

        • Stuey

          no way i am clicking on your links

          • socalbeachdude

            Ignorance for you is apparently bliss!

  • “V”

    I must admit I have never seen a US President under attack like this. No one should be surprised, he was not a career politician, he was not a member of TPTB. His winning caught them all by surprise and they have done nothing but work tirelessly to remove him from office.

    • socalbeachdude

      Yep, this attack of Trump is totally unprecedented and appears to be highly orchestrated. It’s by far the most alarming news this week and will have huge implications for the markets and for everyone in America.

    • James

      How about Obama and the birther movement?

  • socalbeachdude
    • Stuey

      more spam

      • socalbeachdude

        By you. Sad.

  • “V”

    A thought just occurred to me. WHAT IF an impeachment is done to usher in the collapse? Think about it, an event of that magnitude would be the perfect red herring, the economic collapse we all know that is coming could occur with this event.

    • socalbeachdude

      Yep.

  • Stuey

    and more spam

  • Stuey

    more spam irrelevant to topic

  • Stuey

    spam and more spam

    • GoinSheep

      You’re a broken record.. At least Spam meets the dietary needs of some segment of society.

  • socalbeachdude
    • Stuey

      more spam……….spam spam spam is all you know.

      • socalbeachdude

        Laughably false. Highly relevant economic information which relates to Puerto Rico and the whole of the USA and its states and territories.

        • Stuey

          Has nothing to do with Puerto Rico………..just more spam on your part. Quit spamming the comment section with your unrelated links and post.

          • socalbeachdude

            You must have a very small mind that fails to comprehend the big picture on anything.

          • Stuey

            No, i have a big mind and i am destroying you at every crossing…….and btw, quit spamming.

          • socalbeachdude

            The only one you are “destroying” is yourself and your credibility with your mindless endless stupid little ad hominem snarks which are the very definition of trolling.

    • PocoPete

      What does this have to do with Puerto Rico?

      • socalbeachdude

        It’s all part of the reason why Puerto Rico is failing economically. Hellllooooooo?

        • Stuey

          Totally ridiculous statement by you, just more spam.

          • socalbeachdude

            Hardly, but your comment sure is!

          • Stuey

            Oh wow, that is real intelligent comeback. Quit your spamming of the comment section with your unrelated topics and links.

          • socalbeachdude

            They’re all totally related to the latest headline article here and I’d suggest you change your channel over to that article and learn about these CRISIS EVENTS in both DC and in the markets that are unfolding today.

          • Stuey

            not related……just more spam by you.

  • socalbeachdude

    TRUMP CREATES UTTER CHAOS, THEN WHINES…

    ‘No politician in history has been treated worse’: Trump lashes out at his critics in commencement speech to Coast Guard recruits after coming under fire for leaking intelligence and interfering with a FBI investigation

    President Donald Trump turned a Coast Guard commencement into a media-bashing exercise on Wednesday as he returned fire on news outlets accusing him of sharing classified information and interfering in an FBI investigation. ‘No politician in history, and I say this with great surety, has been treated worse or more unfairly,’ Trump protested. ‘You can’t let them get you down.

    You can’t let the critics and the naysayers get in the way of your dreams,’ the president said. He added: ‘I guess that’s why I won.’ He then boasted about his border wall, the ‘great healthcare’ bill his party is working on and the large tax cuts he’s been promising, having earlier bragged that aircraft carriers would be built ‘under budget and ahead of schedule’ in his administration.

    http://www.dailymail.co.uk/news/article-4515728/Trump-complains-media-treatment-commencement.html

    • PocoPete

      What does this comment have to do with Puerto Rico?

      • socalbeachdude

        Isn’t that rather obvious? The US government is now in total CHAOS and Puerto Rico is just a back burner issue that nothing will be done about.

        • Stuey

          This has nothing to do with Puerto Rico!! Quit spamming the comments section with your ridiculous links and BS.

          • socalbeachdude

            False, obviously.

          • Stuey

            Quit spamming you trust fund baby.

          • socalbeachdude

            I’d suggest you read the latest article here which has shifted to exactly the topics I have posted as they were breaking over the past 12 hours, so hopefully you will be real happy now. Trust fund babies are a wonderful thing!

          • Stuey

            I suggest you get your trust fund butt out of your mansion in Beverly Hills and see what is really going on in America. Maybe it will help you to deal with real life instead of the fantasy world in your head that you live in.

        • PocoPete

          Not very much.

  • socalbeachdude

    The biggest damaging fallout from the insolvency of Puerto Rico is to the bondholders of its $74 billion government debt and to the insurers on tat debt such as AMBAC. The municipal bond markets will be thrown into turmoil as the repercussions from the Puerto Rico default continue to unfold and yields (interest rates) are likely to rise very substantially as the RISK OF LOSS is priced into all municipal bonds which will raise the borrowing costs for states and municipalities all over the United States at a time when they can least afford much high interest rates.

    • PocoPete

      Puerto Rico is excluded from US economic statistics and is neither a part of GDP nor employment data.

      • socalbeachdude

        Nice little factoid, but so what? All of the people in Puerto Rico are citizens of the US and entitled to most all benefits of other citizens of the US.

        • PocoPete

          You can make of it whatever you want but the statement stands by itself.

  • socalbeachdude

    Junk Bonds may slam into $1 trillion wall as maturities hit record

    A record $1 trillion of junk debt will mature by 2021, leaving high-risk companies to hunt for new cash at a time when markets are likely to be less welcoming, according to Moody’s Investors Service.

    Speculative-grade companies have $1.06 trillion of debt maturing between 2017 and 2021, with the bulk of it, $933 billion, coming due after 2019, Moody’s said Wednesday in a report. New issuance is likely to rise in the second half of this year to start addressing those maturities, analysts led by Tiina Siilaberg wrote.

    Debt markets aren’t prepared to absorb the maturities, according to Moody’s. Demand for collateralized loan obligations, which bundle leveraged corporate loans into securities, has fallen from its 2014 peak, and credit ratings for both bank loans and high-yield bonds have deteriorated, according to the report.

    “If liquidity dries up, the default rate will be significantly higher than the last time around,” Siilaberg said in an interview. “Companies have more debt to deal with, and we’ve seen a lot of smaller companies take on substantial amounts of debt in a low-rate environment.”

    http://www.bloombergquint.com/markets/2017/02/08/junk-may-slam-into-1-trillion-wall-as-maturities-go-to-record

    • PocoPete

      What does this have to do with Puerto Rico?

      • socalbeachdude

        If you don’t see that, then you are totally beyond mindlessly clueless. What do you think is collapsing in Puerto Rico BUT FOR BONDS which have now reached $74 billion and can no longer be services and that is just the TIP OF THE ICEBERG as to what is happening in the overall bond markets.

        • Stuey

          BS……just more spam by you.

          • socalbeachdude

            Thank you for confirming that you are totally clueless regarding the bond markets which are the LARGEST MARKETS IN THE WORLD and much larger than the stock markets and are the most important market sin the world where all interest rates for economies are set.

          • Stuey

            Everyone is tired of your spamming here. Quit spamming!!

          • socalbeachdude

            No, they’re tired your your nonsense harassing snarks with zero content.

          • Stuey

            I guess that is why others are now saying the same thing to you as me and many others are discussing your mental state and or your real reason for posting all these links.

          • socalbeachdude

            Hardly, but more than a few of us are seriously wondering about your mental state and your obsession with wasting time here putting up nothing but stupid and useless little snarks on other people’s actual comments that have useful information.

        • Stuey

          Everyone is tired of your spamming and BS here!! Quit spamming!

  • socalbeachdude

    Dow, S&P 500 suffer worst day in 8 months as Trump worries rattle Wall Street

    Dow 20,606.93 -372.82 -1.78%
    S&P 500 2,357.03 -43.64 -1.82%
    Nasdaq 6,011.24 -158.63 -2.57%
    GlobalDow 2,738.96 -28.92 -1.04%

    http://www.marketwatch.com/story/us-stock-futures-slide-as-concerns-over-trump-grow-2017-05-17

    • PocoPete

      How does this pertain to Puerto Rico?

      • socalbeachdude

        Hopium is sinking into the abyss for both the US markets and Puerto Rico. Helllooooo?

        • PocoPete

          Not enough connection to be pertinent.

          • socalbeachdude

            This article has been replaced with a new article covering the BREAKING NEWS above, so you should be real happy now!

  • jakartaman

    Hey that sounds like a great idea!
    Lets bring in a bankrupt snowflake territory as a new state

  • PocoPete

    There is a small but growing movement of Puerto Ricans calling for the reunification of Puerto Rico with Spain.

    • jox

      ha ha ha, we have a trillion euros in debt, so we can easily absorb the $125 billion of Puerto Rico.

  • Liberty First

    Absolutely brilliant analysis, and though I have followed the situation I have not considered this angle.

    I cannot imagine this happening, it would almost guarantee a virulent pushback. A violent one.

    Pray for this nation!

  • john

    I wish americans would wake up and close All of – 100% – of our Government run schools. But alas, most americans are willful slaves to the State, and can’t imagine, they can’t contemplate or conceive in their little minds a True education, true learning, apart from a mandate by the State. By definition, a slave State.

  • socalbeachdude

    It is obviously to EVERYONE THAT THERE WILL BE NO TAX CUTS THIS YEAR and that fact was fully confirmed by Congress. It doesn’t take Bonkers Ben saying it for that to have any affect on markets.

  • socalbeachdude

    California pays vastly more than so-called “red states” to the federal government.

    • Stuey

      Did you even read the article on the link? And you expect others to go to your links? Obviously you didn’t read it, then again maybe you did and can’t comprehend, because the article was about STATE taxes that CA was increasing. It is hard to debate with someone who can’t even comprehend what they read or won’t read all together.

  • James

    It’s almost like they want taxation with representation.

  • James

    Puerto Rico would be the 30th largest state in the entire country, and so it would instantly have more political power than 21 other U.S. states.

    So they shouldn’t have taxation with representation because they of their beliefs. Tell me more, it’s not like our founding fathers believed that all men are created equal and are endowed with their creator with certain unalienable rights including life, LIBERTY, and the pursuit of happiness.

  • James

    Look up the definition of globalization.
    Trump is a globalist.

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