How to blow your dough on Puerto Rico government bonds

You know what's easier than making millions upon millions of dollars? Losing it...

How to blow your dough on Puerto Rico government bonds BB102113TREND_600%283%29

How to blow your dough on Puerto Rico government bonds BB102113TREND_600%283%29

This is the story of one sports great who thought he was investing conservatively. The problem? He was not investing conservatively at all. In fact he was investing in one of the riskiest assets available today - government bonds. His financial advisor did not advise him of that.

Before we get to his story, let's paint a picture of his home country, Puerto Rico. To put it bluntly, it is mired in debt. Lots and lots of debt. Sound familiar?

According to Puerto Rico's representative in Congress, Puerto Rico's debt crisis is the result of the island's status as a United States territory.

For 115 years Puerto Rico has been an US territory, and its people US citizens since 1917.

For nearly a decade the Puerto Rican economy has been contracting. It has had to borrow to pay bills. The island's $70 billion in debt has been downgraded to junk by credit rating agencies in recent weeks. It's solution? To beg for more subsidy from the US government.

What used to be a tax haven is no more when it comes to Puerto Rico. In fact, even Time Magazine has suggested that thousands of US-based mom and pop investors stand to lose their island shirts in "the next financial catastrophe", Puerto Rico. That is just what happens when an island of 4 million accumulates $70 billion in debt. 51% of the island's population is on welfare.

More: http://www.marketoracle.co.uk/Article45306.html
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Anarcho-Capitalist, AnCaps Forum, Ancapolis, OZschwitz Contraband
“The state calls its own violence law, but that of the individual, crime.”-- Max Stirner
"Remember: Evil exists because good men don't kill the government officials committing it." -- Kurt Hofmann

and its people US citizens since 1917.

Pull the plug in 2017!

:Party:
Fireworks 2

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How to blow your dough on Puerto Rico government bonds PgkowJT

How to blow your dough on Puerto Rico government bonds PgkowJT

Yeah!

And get the real economy moving...

Restart the tax avoidance industry... tourism will follow... et al...
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Anarcho-Capitalist, AnCaps Forum, Ancapolis, OZschwitz Contraband
“The state calls its own violence law, but that of the individual, crime.”-- Max Stirner
"Remember: Evil exists because good men don't kill the government officials committing it." -- Kurt Hofmann

How to blow your dough on Puerto Rico government bonds

How to blow your dough on Puerto Rico government bonds

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