Puerto Rico’s Governor Says Island’s Debts Are ‘Not Payable’

[jimmy olsen]

So, the governor says the island will default Monday. Thanks for nothing Congress. 

The island's population has already fell 9% since 2000, NYC and Miami better start building more housing because that's going to be matched in the next 5 years after this catastrophe.

Why build houses in Miami if they're just gonna sink under the ocean in 20 years?

Good point. However lots of Puerto Ricans are moving to Florida these days and developers haven't yet got the message on climate change.

[lustindarkness]

They are not moving to Miami, they are moving to Orlando and Tampa.

[grumbler]

Benny Hill maybe, but Monty Python could do subtlety. As could Jon Stewart.

Indeed.  Stewart's nonverbal comedy was probably his best attribute, and Oliver lacks that completely.  Monte Python had whole skits that were virtually dialogue-free (though many of those, like the Ministry of Silly Walks, were delivery at 11 without dialogue).

[Habbaku]

You don't enjoy weird comparisons and country in the wrong place gags? 

I don't enjoy underwritten, oversold punch lines.  No matter how meh the line is he always delivers it at 11.

you seem to be in the minority.

I generally agree with Yi on this. I mean, ideologically I think John Oliver is pretty right on and some of his stuff is clever (and it's generally well researched)... but overall, I think the delivery is delivered at 11 a little too consistently to be funny.

  I really like John Oliver, and feel he's very humorous, but the criticism is legit.

[jimmy olsen]

Congress finally passes a bill, it's a piece of shit, but it's something.

https://www.washingtonpost.com/news/powerpost/wp/2016/06/29/senate-poised-to-act-on-puerto-rico-debt-days-before-debt-cliff/

Rescue legislation aimed at helping Puerto Rico address its mounting fiscal crisis cleared Congress Wednesday, two days before the U.S. territory is set to default on roughly $2 billion in debt payments.

The bill passed by the Senate on a 68-to-30 vote opens a path for an orderly restructuring of the island's $72 billion in bond debt while creating a new federally appointed fiscal oversight board. It passed the House earlier this month, and President Obama has said he will sign it.

"Obviously, the bill isn't perfect," Senate Majority Leader Mitch McConnell (R-Ky.) said Wednesday, before arguing that it "offers Puerto Rico the best chance to return to financial stability and economic growth over the long term so we can help prevent another financial crisis like this in the future."

The passage of the bill — the Puerto Rico Oversight, Management, and Economic Stability Act, or PROMESA — was in doubt earlier this week, and, had it failed Wednesday, the anticipated missed payments likely would have roiled credit markets and sparked creditor lawsuits.

The opposition did not fall neatly along party lines. Democrats raised a host of objections to the bill, including over the anti-democratic nature of the oversight board, the relatively arcane restructuring process and a provision that could lower the minimum wage for young workers. Some Republicans, meanwhile, found some provisions unfair to creditors and feared the rescue bill could set a precedent for fiscally troubled states to seek federal intervention.

...

[Admiral Yi]

In what ways is it a piece of shit?

[PDH]

In what ways is it a piece of shit?

The opening move of Yi-Fu.

[CountDeMoney]

The opening move of Yi-Fu.

NO CAN DEFEND

[jimmy olsen]

In what ways is it a piece of shit?

The federal oversight board that makes a mockery of representative government and local autonomy.

[derspiess]

In what ways is it a piece of shit?

The federal oversight board that makes a mockery of representative government and local autonomy.

So "give us free money with no strings attached" is the demand I guess?  My Puerto Rican friends on FB don't like it either but won't say what it is they want.

[Valmy]

The federal oversight board that makes a mockery of representative government and local autonomy.

Well, to be fair, so does Puerto Rico's status in the Union.

[CountDeMoney]

So "give us free money with no strings attached" is the demand I guess?

You didn't have a problem when the banks did it.

[jimmy olsen]

In what ways is it a piece of shit?

The federal oversight board that makes a mockery of representative government and local autonomy.

So "give us free money with no strings attached" is the demand I guess?  My Puerto Rican friends on FB don't like it either but won't say what it is they want.

Statehood.

[Berkut]

So "give us free money with no strings attached" is the demand I guess?

You didn't have a problem when the banks did it.

The banks had plenty of strings attached actually. Maybe not the right strings...

[derspiess]

So "give us free money with no strings attached" is the demand I guess?

You didn't have a problem when the banks did it.

You mis-remember, sir.