[News] Puerto Rico must send a Financial Control Board to Washington, to manage the US economy
Anti-Imperialist News
news at freedomarchives.org
Fri May 13 17:29:19 EDT 2016
https://waragainstallpuertoricans.com/2016/05/13/puerto-rico-must-send-a-financial-control-board-to-washington-to-manage-the-us-economy/
Puerto Rico must send a Financial Control Board to Washington, to
manage the US economy
The US public debt is enormously greater than the debt of Puerto Rico.
For this reason Puerto Rico must send a Financial Control Board to
Washington, to manage the disastrous US economy.
Here are the numbers to prove it…
*DEBT TO CHINA AND JAPAN*
As of 2015, the US owes $1,254,800,000,000 ($1.25 trillion) to China and
$1,149,200,000,000 ($1.15 trillion) to Japan.
This US debt, to just these two countries, is *30 times greater*
(3,000%) than the $72 billion which Puerto Rico allegedly owes to the US.
http://politicalcalculations.blogspot.com/2015/05/spring-2015-to-whom-does-us-government.html#.VzKwNvPD-M8
Numbers do not lie.**
*DEBT PER CAPITA***
But the _total_ US federal debt is much higher than this. It currently
stands at $19,262,107,539,784 ($19.3 trillion).
http://www.usdebtclock.org/
With a population of 320 million, this US federal debt of 19.3 trillion
translates into more than *$60,000* for every person in America.
With its population of 3.6 million people, Puerto Rico’s debt of $72
billion translates into *$20,000* for every person in Puerto Rico.
In other words, the US federal debt is *_over *three times higher per
person*_*, than the Puerto Rico public debt. Every man, woman and child
in the US has over *_three times_* more debt service and interest
payments on their head, than the people of Puerto Rico.
The political leaders of the US, have indebted their people three times
worse than in Puerto Rico.
Numbers do not lie.
*DEBT* */ GDP RATIO*
In addition, we must consider public debt as a percentage of Gross
Domestic Product (GDP). The Debt-to-GDP ratio is considered a key index
of a nation’s economic health.
With a Puerto Rico GDP of $104 billion and a debt of $72 billion, the
public debt of Puerto Rico is 70% of GDP.
http://www.tradingeconomics.com/puerto-rico/gdp
With a US GDP of $17.95 trillion and a debt of $19.3 trillion, the
public debt of the US is 107% of GDP.
In other words, the Debt-to-GDP ratio of the US is *_37% higher_* than
that of Puerto Rico.
http://harvardmagazine.com/2015/07/dealing-with-debt#article-images
http://www.statista.com/statistics/188105/annual-gdp-of-the-united-states-since-1990/
Remember…numbers do not lie.
*PUBLIC DEBT AROUND THE WORLD*
Not only compared to the United States…but compared to the entire
*_world_*, Puerto Rico’s public debt is nothing to be ashamed of.
Last year, according to /Harvard Magazine/, “The debt levels in many
advanced economies exceeded 100 percent of gross domestic product (GDP).
In the United States, for example, government debt is currently 105
percent of GDP.”
/Harvard Magazine/ then provided a helpful graph, which shows this
rapidly mounting debt, all around the planet:
PUBLIC_DEB-GDP_RATIO_GRAPH
<https://waragainstallpuertoricans.files.wordpress.com/2015/06/public_deb-gdp_ratio_graph.jpg>
The sloppy horizontal line on the right shows where Puerto Rico’s
“External debt as a percentage of GDP” falls, in relation to the other
22 “advanced” economies.
As you can see, Puerto Rico’s 2015 debt level is *_less than one-third_*
of the debt levels in the 22 other “advanced” economies. These economies
include the US, Japan, Germany, United Kingdom, Australia, France, and
Canada.
Guess what…numbers do not lie.
*OOPS!* *WE FORGOT THE STATE AND LOCAL DEBT!***
The state and local debt, for all 50 states combined, is currently
$3,001,000,000,000 ($3 trillion).
http://www.usdebtclock.org/
If we factor these into our earlier calculations, we get the following:
The _total_ US governmental debt is $22.3 trillion…which is *2,860 times
greater* (286,000 % greater) than the debt of Puerto Rico.
The _total_ US per capita debt is $70,000…which is *350% higher* than
the Puerto Rico per capita debt of $20,000.
The _total_ US Debt-to-GDP ratio is 125%…which is *55% higher* than the
Puerto Rico Debt-to-GDP ratio of 70%.**
*OOPS! **WE ALSO FORGOT THE SUBPRIME MORTGAGE CRISIS**!***
In 2007, the entire US economy became so infected with poisonous debt,
that the federal government stepped in and saved Wall Street with a
$2,000,000,000,000 ($2 trillion) bailout. The Wall Street debt hustlers
kept all the money, while millions of people lost their homes.
Many of those debt ustlers – such as John Paulson, Nicholas Prouty,
Salomon Brothers, Stone Lion Capital Partners – are now devouring the
beaches, bridges, highways, hotels, marinas, office buildings…and soon
the electrical grid and water supply of Puerto Rico.**
*WE MUST SEND A FINANCIAL CONTROL BOARD _IMMEDIATELY_*
This is clearly a dangerous state of affairs. The US is choking with
debt and addicted to it: both at the same time.
The municipal bond industry is the drug dealer of debt, pumping out $3.7
trillion of muni bond debt instruments *_every year_*.
Every year, 22% of the US economy is converted into municipal bond debt,
and these bonds create a nation of debt junkies. Pension funds buy this
debt and inject it straight into their veins, every year and in all
fifty states. Investment banks, hedge funds, law firms, bond traders and
placement agents all become addicted, as well…because transaction fees
and million dollar bonuses are the opium of Wall Street.
Puerto Rico must send a Financial Control Board to Washington, D.C.
*_immediately_*…before these debt addicts attack our island with a
zombie appetite.
A zombie has no conscience.
A debt-addicted society has no morals…it only has an insatiable thirst,
for the virgin blood of other republics.
If we don’t send this Financial Control Board *_immediately_*, these
debt zombies will devalue our currency by 40%, take 80% of our land, cut
wages by 50%, close 200 schools and 9 hospitals, raise electricity rates
by 300%, hike water rates by 60%, raise gasoline taxes twice in one
year, impose an 11.5% sales tax, raise the tolls on PR-5, PR-22, and the
Teodoro Moscoso Bridge, demand a $4.25 minimum wage, privatize our
airports, steal our pensions, buy our beaches, imprison our leaders, and
pass a Jones Act.
Wait a minute…they already did that.
-- Freedom Archives 522 Valencia Street San Francisco, CA 94110 415
863.9977 www.freedomarchives.org
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