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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Puerto Rico Default – Welcome to Big Bang

Lobo
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Puerto Rico Default – Welcome to Big Bang Empty Puerto Rico Default – Welcome to Big Bang

Post by Lobo Sun 02 Aug 2015, 1:30 pm

Puerto Rico Default – Welcome to Big Bang

Posted on August 2, 2015 by Martin Armstrong

Puerto Rico Default – Welcome to Big Bang 1463x420xPuerto-Rico.jpg.pagespeed.ic.WrNBT0rPTn
A group of hedge funds holding a large proportion of Puerto Rico’s debt have demanded that its government fires teachers, collects more taxes and reforms labor laws, as the US territory contemplates default. This is the battle between bond holders and the people that is not going to end nicely.
While hedge funds may be buying up distressed bonds and then demanding full payment, these type of vulture funds will eventually lose everything. The entire government debt structure is just out of control. Puerto Rice will be the first quasi-state to go belly-up. Others will most assuredly follow. Welcome to Big Bang.
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