Puerto Rico

Frontrunning: October 20

  • Trump’s Tax Plan Takes a Big Step Forward, But What Comes Next Won’t Be Easy (BBG)
  • Low pay, no bonus: U.S. retailers struggle with hiring (Reuters)
  • Donald Trump Jr. Becomes a Rainmaker on the Republican Speaking Circuit (BBG)
  • In Kuroda's face - researchers find ways to predict central bank changes (Reuters)
  • One Month After Maria, a Crisis Still Rages in Rural Puerto Rico (BBG)

The State Of Illinois Is "Past The Point Of No Return"

"The State of Illinois is past the point of no return. It does not have the ability to raise taxes or cut spending to the degree necessary to reduce the annual cost of bond and retiree benefits from 33% to a sustainable level...The insolvency is not the result of too much bonded debt, but rather the government promising retirement and other post-employment benefits that aren’t affordable."

Too Good For Too Long...

"We humans tend to think linearly and comparatively. In other words, we usually assume the near future will look a lot like the recent past. And it does much of the time.. But other times it doesn't. And that's where the danger lies."