Puerto Rico $70 billion in debt

Sailor said:
Eventually if the U.S. keeps borrowing. There is no way around it.
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Of course there is.
Who do you think we owe the "debt" to?
You do understand that with a fiat currency there is no currency without debt right?
Clearly anatta doesn't but I expect so much more from you, Cap.
 
Sailor said:
Would you believe that is just one of the reasons we get the credit worldwide that we do? Our government has put all of our properties, your property, our national assets and all of our future earnings as collateral.
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Suggestion; research petro dollar, our main source of credit.

Also the most important reason we were forced to destroy Libya
 
still little sewage, no potable water, flooding and electricity lacking.
It's going to reach a crisis if they can't get some basic services going soon
 
Sailor said:
Spending more than they take in for tax revenues and because of of U.S. Congress. They do not have to have a balanced budget because they are not a state. Congress made all sorts of F'd up tax loophole laws for investors in P.R.

It is a mess down here. They are going to need help rebuilding.
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They've been in trouble for quite some time. I had a bond from the Puerto Rico Highway fund, and was lucky that it matured last year. Even then, I wasn't sure that they were going to pay the note....but somehow they did.
 
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