Drop a frog into a pot of boiling water, and the frog will hop right out.
Drop the same frog into cool water, heat the pot slowly, and the frog will stay inside…until it boils to death.
This is happening right now in Puerto Rico.
For the past ten years, the island’s heat has been rising…electricity hikes…property tax hikes…three gasoline tax hikes…an 11.5% sales tax…teachers laid off…200 schools closed…pensions rolled back…
Over a million Boricuas fled the island as a result. This was the escape valve…but now, the water has reached a boiling point.
THE BOILING OF PUERTO RICO
Two weeks ago, the Puerto Rico legislature privatized the public school system.
RFPs were also issued for the privatization of PREPA, with a built-in 4.2 cent rate hike as an inducement to corporate bidders.
A five-member Financial Control Board is now under consideration by the island legislature. This Board will rule from Washington DC on behalf of the hedge funds who “own” the island’s so-called “debt.” It will be the actual government of Puerto Rico.
The island runs out of cash by December 2015, owes over $1.2 billion by January 2016, and a frenzy of “P3s” (public private partnerships) will soon own the physical infrastructure of Puerto Rico (water supply, electrical grid, schools, prisons, highways, hospitals, airports, seaports, railways). The entire island will become one giant ATM for Wall Street.
Unfortunately, both major parties – the PPD and PNP – are in on the scam. The economic elites of Puerto Rico and Wall Street engineered this entire scenario. They will profit enormously, at the expense of everyone on the island.
Very quickly…within the next few weeks or months…the frog needs to jump out of the pot, and dump the boiling water on them.