Puerto Rico: The Financial Implications of Dependency

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““Puerto Rico: The Financial Implications of Dependency” ….. it starts when the “colony” started!!

Repeating Islands

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“Puerto Rico: The Financial Implications of Dependency” offers a well-researched, comprehensive analysis Emma Scully (Council on Hemispheric Affairs) of Puerto Rico’s debt crisis and its roots in the island’s historical and problematic “relationship” with the United States. I highly recommend reading the full article (available in the link below).

On Monday, August 3, Puerto Rico’s Public Finance Corporation defaulted on a $58 million USD bond payment, the island’s first debt nonpayment in its 117 years as a U.S. territory. Puerto Rican Governor Alejandro García Padilla has called the $72 billion USD debt “not payable.”

A report by former IMF economist Anne Krueger sponsored by the Government Development Bank of Puerto Rico offered a neoliberal analysis of the situation. To Krueger, Puerto Rico’s problems stem from the commonwealth’s too high minimum wage and overly generous welfare benefits.[1] A somewhat less reticent report sponsored by a group of hedge…

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About Dr. Rex

I'm originally from Puerto Rico. I was born in Santurce and raised in Rio Piedras. Have lived in Florida since 1999. I have a doctorate degree in Medicine; completed in 1976. My Internal Medicine specialty was completed in 1979. Worked for Puerto Rico's health system until 1985. At this time, I'm happily retired after working for the federal government for almost 28yrs. I want to offer any knowledge that I have to anyone "out there" who is interested. My views are liberal in almost every sense. My knowledge is "eclectic" - a bit of everything. Music and reading are my passion. Blogging has also become a very interesting endeavor. Metaphysical topics attract me. I'm interested in news reporting human issues like injustice, discrimination and abuse - the "wrongly" affected. My intention is to bring this knowledge to an understandable level and to help anyone in need. I'm open to questions and will answer them to the best of my ability. Currently working on an enterprise whose main mission will be to bring peoples of all walks of life together. To be one .... since we ALL are ONE!! The future looks bright and promising!!!

5 thoughts on “Puerto Rico: The Financial Implications of Dependency”

      • You are my friend Horti I am in awe of the person you are, the quality of your writing, the common sense you share in your writing and the valuable points that you make in your writing. Since High School I have wanted to visit Puerto Rico . Now as I have learned more about her people via your fine writing I have fallen in love with them and hurt for the problems they face and have faced.

        Liked by 1 person

      • My dear friend … TY from the heart. Keep in mind that I also reblog materials from others. I have learned more about my country as an adult. I loved your country & wanted to be here since I can remember. I’m so saddened by how things are … and by what I have learned about the relationship between bot our countries.

        I’m sending this link (in case I haven’t already). You will learn even more ….

        Home


        Check their blog …. even better, consider reading this book.

        And, if you ever decide to travel to PR, let me know. I’ll tell you where it’s best to go!! hugs ….

        Liked by 1 person

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