[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


  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…


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.


Numbers do not lie.**


But the _total_ US federal debt is much higher than this. It currently 
stands at $19,262,107,539,784 ($19.3 trillion).


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.


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.


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.



Remember…numbers do not lie.


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:


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 

Guess what…numbers do not lie.


The state and local debt, for all 50 states combined, is currently 
$3,001,000,000,000 ($3 trillion).


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%.**


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.**


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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