Greece, Puerto Rico, and the IMF: How Freddy Krueger will kill Puerto Rico

The Greek economy has collapsed. Over the past five years, its GDP shrank by 25%.  Youth unemployment stands at 60%. As of yesterday, June 29, it closed all its banks for one week. Today, June 30, it defaulted… Read More

Puerto Rico’s Governor, Alejandro Garcia Padilla, Declares that the Island’s Debt is Not Payable

  He finally did it. In order to save Puerto Rico from a “death spiral,” Governor Alejandro Garcia Padilla announced that the island cannot pay the $73 billion public debt, in the manner that the US is demanding…. Read More