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Puerto Rico Facing Default on $72B Debt - Why You Should Care

Discussion in 'Other Off Topic Forum' started by jcosta79, Jun 29, 2015.

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  1. jcosta79

    jcosta79 Formula 3

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    #1 jcosta79, Jun 29, 2015
    USA Today Story & VIDEO

    You might want to make sure your portfolio doesn't include these bonds. From what I understand, some large retirement funds have invested in these.
     
  2. zudnic

    zudnic Formula 3

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    #2 zudnic, Jun 29, 2015
    I've warned of a market crash in 2015 before years end.
     
  3. norcal2

    norcal2 F1 Veteran

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    #3 norcal2, Jun 29, 2015
    I saw this in the news also, its sad the US has to bail out PR time after time...
     
  4. David_S

    David_S F1 World Champ
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    #4 David_S, Jun 30, 2015
    Well, a huge part of PR would like total independence. Another part would be thrilled to be granted statehood. Being stuck in limbo as a territory does them no good. Drag them into the Union & get them off to a solid start, or let them splinter off on their own, quit messing with 'em, and let them sink or swim.

    Puerto Rico is a beautiful place - if it were granted/forced into statehood, there is no reason that it couldn't thrive as a destination jewel/attraction.
     
  5. jcosta79

    jcosta79 Formula 3

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    #5 jcosta79, Jun 30, 2015
    The portion of people that want independence has always been very small (less than 10%). The last referendum held in 2012 actually showed the majority now want to become a state. (It had previously always been that the majority wanted to stay a commonwealth) However, I think now it may be too little, too late.
     
  6. willwork04

    willwork04 F1 Rookie
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    #6 willwork04, Jun 30, 2015
    Why doesn't it thrive as a destination jewel/attraction right now?
     
  7. Mbutner

    Mbutner Formula 3

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    #7 Mbutner, Jun 30, 2015
    LOL, this is absurd. People say that every year. We are in the longest running bull market in history. We are due for a correction, yes... several reasons why we will not crash but that belongs in the politics section.

    You pulled all your money out and stuffed it in the mattress?
     
  8. Mbutner

    Mbutner Formula 3

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    #8 Mbutner, Jun 30, 2015
    The beaches aren't that great, it's fairly expensive, and there is rampant crime. There are much better vacation spots, IMO.
     
  9. zudnic

    zudnic Formula 3

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    #9 zudnic, Jun 30, 2015
    Last edited: Jun 30, 2015
    yes, but not the mattress. Long term deposits at 2.10% annual interest. The principle is 100% insured. So zero risk.

    side note: All credit union deposits in British Columbia are 100% insured.

    Its not a very good bull market! All markets end. No two term president in history, has left office with the country in good shape. Obama (like all socialist) will turn out to be the biggest failure in history! And then we have oil. All those people who bought oil thinking the prices always stay up, are now loosing their shirts. Including banks. The last two times oil was like this, the stock market crashed several months latter.

    Unless you are short, I wouldn't be in bonds.
     

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