Trump says U.S. must "wipe out" Puerto Rico debt

Not on my dime.
Make bad loans,
Too bad.
I make bad investments in the stock market.
Where is the bail out for my IRA funds? Retirement funds, gwtw.

Banks gonna fail, "let them fail" Ron Paul, M.D.

Mac-7 how can you imagine such an upload. Really.​

 

I don't think they want it

 

No

But we can forclose on the state and put them in receivership

 

No.
With a Free and Independent California,
we can keep our tax dollar the Federals now keep a majority of and redistribute to Kentucky, etc.

Kentucky, another Puerto Rico?

 

Notice how Trump as president can't build anything. He has to wipe it out.

 

Trump really paid attention during question time in his beauty pageants...."then China & Japan will wipe out America's debt and we'll have.... World Peace!!!

 

When an enity - either an individual, company or state - goes bankrupt it does not mean the no longer owe anything

It means they can't pay in full on time

And it often means they will not have to pay all of it back

But they are still on the hook for most of it

 

finally... 10 minutes later lol

dupe

 

Why is the site so slow today... I can't even undupe my dupe

 

I agree in the main but the federal government needs to concede that it dictates Puerto Rico’s economic policy. Puerto Rico’s current condition wasn't freely evolved or organic to Puerto Rico's electorate, nor are the limited solutions available to it.

Puerto Rico is what all States would look like if the federal government wasn't limited in its meddlesome nature by the Constitution.

Forcing austerity on Puerto Rican citizens from afar while restricting thier ability to freely trade in the region seems wrong-headed and tyrannical.

 

Camp_steveo is handing out Xanax in another thread.

 

wouldn't touch that with a ten foot pole either... (refer my reply in would you take the job thread)

 

How is the US restricting PR's ability to trade?

 

Total nonsense. Red states have taken more in federal welfare then blur states and that is well documented factual proof you are claiming nonsense.

 

You don't know what you are talking about

 

Great news.
Maybe my IRA will improve when bankrupt AGTP pays off their stock holders.

Try again.

And try not be a sucker to the plutocracy.​

The monied can make bad investments and I owe them.
I make bad investments and no one owes Moi.
What a deal, eh.

 

Not quite

Technically as a stockholder you are AGTP

 

It is good to be part of the Plutocracy
and have such as Mac-7 to serve them.


Reminds me of Republicans some decades back who supported
Tax Cuts for the wealthy so when they were wealthy they could enjoy those tax cuts too.

Mac-7, how about trying to see it, Moi's Way, and report back.

Bad investments are bad investments.
You lose. You lose.
No word games. No Lawyerfication.
Bad investments are bad investments. ​

 

If entities in Puerto Rico want to engage in negotiations to restructure their debt with bond-holders and other 'stake-holders', that is perfectly legal, proper, and not unusual. But the Government of the United States and American taxpayers are not 'stake-holders', and we need to be left OUT of all of it. It's not "our cross to bear". If we had piles of billions of dollars laying around to spend on some 'pet' project, we should spend it on crumbling roads and bridges -- not unhappy investors in Puerto Rico's DEBT....

Any attempt to push this debt and its responsibility off on American taxpayers is just more of this despicable practice of "privatizing profits and socializing losses" that we've seen a LOT of in the 21st-century in this country. We were forced to tolerate this sh*t under both Idiot Bush and Idiot Obama, and this "too big to fail" embezzlement was shoved down our throats by big-wigs on Wall Street and the Federal Reserve System. We should NEVER put up with this kind of criminally unfair bailout bullshit again!

Truth? We need Puerto Rico like we need malignant cancer....

 

I'm "quoting" the federal tax system. If you think our federal taxes are "nonsense", I might agree with you.

 

When you dig into this, it appears that there's a relatively new 'thing' called "PROMESA" that will create some kind of makeshift pathway for bankruptcy. From the news story linked below:

"Last year, Congress passed the PROMESA law that created Financial Oversight and Management Board. Its goal is to help Puerto Rico negotiate with its creditors.

PROMESA also created a mechanism known as Title III that allowed U.S. territories such as Puerto Rico to enter a form of bankruptcy, a financial tool the island did not have access to previously."

Link: https://www.cnbc.com/2017/10/04/pue...llar-after-trump-pledge-to-wipe-out-debt.html

I don't intend to try to drag us all "through the weeds" of some Congress-spawned concoction to deal with $75 BILLION in debt run up because of irresponsible liberal Democrat spending in Puerto Rico. All I will do is repeat the contention of one exasperated American taxpayer (me!) that none of this should be paid for in any way by any American taxpayer. We had no "stake" in it. None of us who weren't "investors" stood to profit by any of this, and it is contemptible nonsense for anyone in government, in any political party, to thrust any part of the responsibility on American taxpayers.

Brave words. I'll bet the proverbial "dollar to a doughnut" that we get this Puerto Rico debt offloaded onto US in one way or another anyway! If central bankers, hedge funds, and Wall Street want it, then it's a foregone conclusion that we'll GET IT -- right in the ass!

 

I agree, though Puerto Rico has only a partial free market economy. Its biggest problem is incompetence in the day to day running of the territory. It is extremely nasty to bail out an poorly run state/territory. California has competence, but worse, it is being driven into the ditch on purpose. It too deserves to fall in its own mess.

 

they are poor and oppressed minorities who need government handouts due to a natural disaster, and it will create investment opportunities for the rich to be even more fruitful.

it is a win win for everyone.

 

Yes bond holders were in the dark concerning the debt issue previous to his comment !Oh and what he said is Racist too! Damn Hitler!

 

Investor beware!!