Puerto Rico’s Collapse Foreshadows A Total U.S. Collapse

Saturday, August 27, 2016
By Paul Martin

Dave Kranzler
Investmentresearchdynamics.com
August 26, 2016

Congress, for some reason, has agreed to use U.S. Taxpayer money to bailout Puerto Rico. That’s mighty generous of Congress to use Citizens’ money for that, especially when most Congressmen have their money tax-sheltered in the Rothschild Trust Company in Reno. But it begs the question: Why is Puerto Rico even part of the United States?

An article in the Wall Street Journal reports that Puerto Rico’s pension fund is underfunded by $43 billion, which is on top of $70 billion in various forms of Government debt. Puerto Rico is an “unincorporated territory of the U.S., which means that it probably harbors a lot of U.S. money hiding from the IRS. That explains why Congress is using other people’s money to bailout their own money plus the money of those who fund Congressional seats.

Puerto Rico, for all intents and purposes, has financially collapsed. Your tax dollars are keeping it solvent and paying out pension beneficiaries. But the State of Illinois would love to have the size of PR’s problems. The State pension fund in Illinois is underfunded by over $111 billion. That’s based on a lot of assets like commercial real estate, junk bonds and private equity investments that are marked to fantasy. Mark ’em to market and I bet the pension fund is underfunded by closer to $200 billion.

That’s just Illinois. If we were to do a rigorous mark to market assessment of the State pension funds in California, Texas, New Jersey, New York and Florida, I’d bet my last roll of silver eagles that combined the pensions in those States – not including Illinois – are underfunded by over $1 trillion.

The Rest…HERE

One Response to “Puerto Rico’s Collapse Foreshadows A Total U.S. Collapse”

  1. Once again stealing taxpayer money to bail-out rich people that hold worthless Puerto Rico junk bonds. This is total B.S., let them fail! Americans should be outraged! American government is very corrupt.

    #2490031

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