The last 5 days have seen the biggest crash in Puerto Rico muni bonds since June 2015 when the Governor declared debts "unpayable." As Bloomberg notes, investor speculation about the scale of the losses Puerto Rico will foist on bondholders caused the price of the island’s most active bond to continue to slide in the heaviest trading in nearly four months.
Puerto Rico bonds are in the midst of the biggest three-day rout since April 2016, when island officials advanced a moratorium bill that paved the way for the first default on its general-obligation debt.
The recent blow-up of the Dallas Police and Fire Pension System was entirely predictable. The combination of overpriced financial markets, inadequate contributions and overly generous pension promises mean dozens of US local and state government pension plans will end up in the same situation.
“At various points…he said he carried out the attack because of government mind control,” prosecutor Ricardo Del Toro said. “But he later said he did so because of [ISIS]…after participating in jihadi chat roms.”
This week, twenty states began implementing minimum wage increases that were passed during 2016. As the country waits to see how these increased wages this will affect the economy, the U.S. territories have already provided us with a grim example.
Santiago told the F.B.I. he thought he was being mind controlled, possibly by the U.S. government or the C.I.A. and admitted hearing voices, which Santiago said told him to study “extremist materials on the Internet,” the New York Times reports. Despite the fact that Santiago himself, his girlfriend, and even co-workers warned authorities of his experiences the F.B.I. failed to detain him before his travels to Florida.
According to law enforcement officials, in November 2016, Florida shooter Esteban Santiago walked into an FBI office in Anchorage claiming that the government had "forced him to watch ISIS videos" and to fight for ISIS. He was sent to a psychiatric hospital.
Liberal havens have become largely clueless about the real world about them, and have turned a blind eye to the destabilizing forces that are compounding upon them. If/when the SHTF, these will be the absolute last places you’d want to be caught dead.
"Markets don’t have a purpose any more - they just reflect whatever central planners want them to. Why wouldn’t it lead to the biggest collapse? My strategy doesn’t require that I’m right about the likelihood of that scenario. Logic dictates to me that it’s inevitable..."
Having exposed the "current global establishment’s (including Trump’s) overall plan" consisting of 8 simple steps to solve the global debt crisis,Bill Gross then goes on to say that "it pays to not fight the tiger until it becomes obvious that another plan will by necessity replace it."