http://www.zerohedge.com/news/2014-01-15/puerto-rico-default-likely-ft-reports
the FT reported moments ago that a Puerto Rico default "appears increasingly likely"
"Puerto Rico cannot really raise taxes much more, since the debt per capita is more than $14,000, while income per capita is almost $17,000, a ratio – at 83 per cent – that makes California, Illinois or New York – each at 6 per cent – models of prudence. Meanwhile, at 14 per cent, the unemployment rate is twice the national average."
the FT reported moments ago that a Puerto Rico default "appears increasingly likely"
"Puerto Rico cannot really raise taxes much more, since the debt per capita is more than $14,000, while income per capita is almost $17,000, a ratio – at 83 per cent – that makes California, Illinois or New York – each at 6 per cent – models of prudence. Meanwhile, at 14 per cent, the unemployment rate is twice the national average."