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After The Storm, It’s Labor vs. Finance for the Future of Puerto Rico


After The Storm, It’s Labor vs. Finance for the Future of Puerto Rico

Richard Eskow

Wall Street, which has been plundering the island for years, is trying to tighten its grip on the island, meanwhile organized labor is working to rebuild its ranks.

Now, financial interests are using this tragedy to exploit Puerto Rico even further. As Kate Aronoff, Angel Manuel Soto, and Averie Timm report in The Intercept, they are attempting to use PROMESA to accelerate the sell-off of Puerto Rico’s shared resources to private hands.


Unions are the backbone of American labor and always will be.


Puerto Rico must use this unique opportunity to declare independence from the U.S. Immediately hold a Puerto Rican referendum asking its citizens to chose to either remain a part of Wall Street and the American Empire or to declare independence, ask the UN for help and declare all claims on their island from Wall Street to be null and void. The longer they delay, the deeper they will find themselves indentured to corporate America.


It’s Labor v. Finance for the future of the biosphere - at least in terms of human survival.


The problem is that U.S. unions have had very little backbone since the merger of the AFL and CIO and the red-baiting that preceded it. They have simply acted as the enforcement arm to co-opt and oppress the U.S. working class in their junior role in the Capitalist/Government/union triumvirate. The same can be said for the Democratic wing of the Duopoly since Reagan and the DLC coup.


What about union-cooperative associations that raise money by small donations in the mainland, independent from Wall Street and the U.S. government?




Well, aside from the fact that right now most Puerto Ricans have more important things to do, like obtaining food, water and fixing their housing, than holding an election or demonstrating…

Yes. And you will find some mainland conservatives who think it is the better idea. Puerto Rico deserves self-determination. They do not deserve the welfare-recipient trap. Receiving welfare isn’t good for the vast number of recipients in this case, or for the people on the mainland paying.

As for repudiating your debt, :slight_smile: , fine, but don’t expect to receive any new loans until you can persuade someone that you will pay them back. Your past history of repudiating loans will count against you.