Is Puerto Rico like Detroit?

[SobroGuy]

And at this point PR is set up for bankruptcy in NYC court within 2 years..which means more protections for bond holders at least..but they will stay take a loss..just not as bad.

[85rx-7gsl-se]

Well technically PR can't file for bankruptcy, but yes there is still a significant risk of reduced ROI with restructuring.

[CaptainNJ]

how are things going? I haven't seen an update on the situation in a while. I gotta make sure my mother in law keeps getting her pension checks!

[snoopygirlmi]

Originally Posted by Norwood Boy

I agree. Listen Detroit does not have the tourism that PR generates. That's a huge difference. A big problem in PR is the amount of people on public assistance. That's a huge drain on the economy. I would be nervous if I lived there full time. At what point does PR declare bankruptcy? Unfunded pensions for the Police? Can you imagine if the cops decided, why are we reporting to work. What if teachers or sanitation decides to mail it in?

Sounds like what it's like in Detroit these days. There is barely a middle class there anymore.