Home | About | Donate

Republicans Demand Flint-Like Solution To Puerto Rico Debt


#1

Republicans Demand Flint-Like Solution To Puerto Rico Debt

Dave Johnson

In 2008 Wall Street got in over its head, and the U.S. government and Federal Reserve stepped in with trillions of dollars to bail them out. Now Puerto Rico has debt that it cannot pay. Instead of helping, though, Republicans in Congress are demanding increased austerity and an unelected “oversight board” that sets aside democratic governance – the same way Republicans imposed unelected government on Michigan cities like Flint. (We know how that turned out.)

Trouble


#2

Having lived in Puerto Rico and still having family there, I can speak with some authority on this subject.

When America sent in its version of developers, Puerto Rico essentially became a captive people. Few know how to farm or raise crops, and most are now dependent on food shipped in from the U.S.

It would not be easy, but Puerto Rico as an island, could and should learn from Cuba's example on how to become sovereign and grow its own food.

Then, taking the road Greece did not, it might refuse to pay these usurious debts.

It's obvious that global elites intend to own everything. They created the phony derivatives and bets on loans to drive their so-called assets into stratospheric levels. Then, since contraction always follows expansion, they moved in for the fiscal kill when nations couldn't pay back exorbitant loans.

As many readers of C.D. understand, banks just PRINT money. It is NOT earned. Then they loan it out at interest and charge all sorts of penalties when loans aren't paid on time.

The so-called "Liberalism" that gave the money changers every possible liberty while denying citizens protections is a Cancer.

It's diminished the quality of life for people in Greece and Spain, and now is moving in to destroy lives in Brazil and Argentina with Puerto Rico also high on its hit list.

Eventually, these tactics will HIT home. As someone else said the other day, Latin American is just the Practice Run.


#3

Global wealth transfer until the 1% own it all and the 99% own nothing is indeed the ultimate goal.

The five too-big-to-fail banks that controlled 25% of US bank assets at the time they caused the 2008 crash will control nearly 50% of US bank assets when Obama moves out of the White House in January. With monopolization of banking, insurance, drugs and other industries on the horizon in the US, the TPP, TTIP, and Latin American practice run's timing is just right.

Flint and Puerto Rico are two of many examples where Naomi Klein's SHOCK DOCTRINE are being applied to achieve corporate domination.


#4

Speaking of Greece, their own Government announced more Public spending cuts in return for another 7.5 billion dollar loan. That 7.5 billion went directly to the bankers.


#5

I know.

Look at the face on the guy in the article's accompanying photo: the spaces between his teeth give the impression that he's a dinosaur or human bulldozer about to CHOMP on everything in his path.

In my mind, there will always be people possessed of Criminal Intent. Indigenous tribes would close rank and SHAME such persons; and once upon a time, there was such a thing as forcing an individual into exile.

What has allowed this monster out of the box and enabled it to metastasize was the "trade liberalization" and banking deregulation that pretended that Wall St. hucksters were magicians who could draw vast sums of money out of thin air, bet with it, charge others for making bets on it, and then use that chimera to purchase whole islands, industries, valuable tracts of land, and so much human labor.

It's the HEIST of all time... with the church's sale of "Indulgences" qualifying as #2.


#7

They've been using the debt to cherry-pick assets for many years, and destroyed the economy.