I'm seeing some hints in these tweets that Puerto Rico infrastructure is going to see a heavy dose of PPP institutional structure in its future .... Trump isn't going to just send munnie sorry... its going to come with terms. And when its done it will be of much better quality in content and operation than current...
Texas & Florida are doing great but Puerto Rico, which was already suffering from broken infrastructure & massive debt, is in deep trouble..
— Donald J. Trump (@realDonaldTrump) September 26, 2017
...It's old electrical grid, which was in terrible shape, was devastated. Much of the Island was destroyed, with billions of dollars....
— Donald J. Trump (@realDonaldTrump) September 26, 2017
...owed to Wall Street and the banks which, sadly, must be dealt with. Food, water and medical are top priorities - and doing well. #FEMA
— Donald J. Trump (@realDonaldTrump) September 26, 2017
10 comments:
Puerto Rico is still being treated as a colony.
Yeah... he is not going to just send munnie there no way in hell .... if you read between his lines here...
Does PR vote?
You look at the new tax bill and seems like these guys are going back and f-ing over financially all the states that didnt vote for them...
they sure know how to turn the financial screws that is for sure...
"Puerto Rico is still being treated as a colony."
Any state without the ability to draw a cheque on its own bank in its own currency is a colony, not a country.
The point of a federation is that everybody within the federation sees everybody else as brothers and moves to assist if there is an issue.
That there is any reticence in doing so suggests that the United States are no longer quite as united as they once were. And perhaps it is time for them to split off into separate nations.
PPPs would do nothing about "money owed to Wall St and the banks" which Donald pretends to want to deal with, in fact PPPs would bring banks and Wall St deeper into Puerto Rican budgets.
Fake solution Matt!!
It's quite amusing to me that Texas and California still form part of the same union tbh.
We are in an era of "dismemberment" and revulsion and I don't think USA will get unscratched from this one this time.
Puerto Rico may be better out of the Union just as Greece would be better out of the EU for example.
Speaking of colonies...Hopefully Mosler's interests in the USVI fared the storms ok. I've read that he had a ferry service, office and house on St Croix or somewhere.
I haven't heard how Warren got on. He lives in St Croix. He was in KC during the hurricane AFAICT.
Speaking of munney in PR: https://www.cbsnews.com/news/puerto-rico-hurricane-maria-new-shortage-cash/
Maybe it’s time for a different type of experimenting in PR. Maybe it’s time for the Gov of PR to engage in MMT with their own currency. Just make sure they get the tax collection working at the same time. If they can get this “virtuous cycle” working, then who knows, maybe they could cut the cord with the US currency permanently.
Here’s another article which goes into more depth on how the Fed Reserve is at the ready, making sure the local banks (and therefore ATM machines) have plenty of cash. Yay, disaster averted, lol.
https://www.aol.com/article/finance/2017/09/28/cash-demand-soars-in-puerto-rico-after-hurricane-hit-atms-card-systems/23226064/
Question is, will people need to go to the ATM machines for months, either drawing down savings or going more deeply into personal debt? If so, I think people are going to need a different source of cash.
The ATMs need electricity and there is none in PR.
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