Greece In Puerto Rico

We know of the slow movement in our lithosphere

Tectonic plate forces creating the earthquakes we all fear

But these forces are physical not financial and take millions of years

The financial ones unfortunately take much less time for the results to appear

A financial tectonic plate like the one in Greece is now on a rapid move

Puerto Rico’s plate moving fast but no EU lending package to the financial shocks dampen or soothe

News that our territory on its billions of public debt on a $58 million payment due today will default

Worse in November there will be no dollars left in its general funding vaults

A decade long economic slump coupled with spending more than the island took in

Investors rightfully fearing they will take it on the proverbial chin

In a battle for tourist dollars between Cuba and Puerto Rico guess who will most likely win

Not even close, with the end of the embargo, Cuba will win hands and dollars down

It will be wearing the tourist vacation attraction crown

Another warning which this administration will continue to ignore

A country, even one like the U.S., cannot long survive if its national debt continues to soar

© August 1, 2015 Michael P. Ridley aka the Alaskanpoet
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© August 1, 2015 Michael P. Ridley aka the Alaskanpoet