I hope no one here in the U.S. is feeling too smug about the financial fiasco dragging on in Greece. Because we have a pretty similar problem on our own island called Puerto Rico and just like Greece, socialist/welfare state policies are the primary culprit. read more
* Puerto Rico is very socialist but it ran out of other people’s money and it finds itself in a dire economical situation. Signs of socialism: Largest employer: Commonwealth and municipal goverments and public corporations. read more
Because we have a pretty similar problem on our own island called Puerto Rico and just like Greece, socialist/welfare state policies are the primary culprit. Puerto Rico seems to have avoided the immediate threat of default for now by making $1.9 billion worth of debt payments that were due July 1st. read more
The Puerto Rican Socialist Party (Spanish: Partido Socialista Puertorriqueño, PSP) was a Marxist and pro-independence political party in Puerto Rico seeking the end of United States of America control on the Hispanic and Caribbean island of Puerto Rico. It proposed a "democratic workers' republic". read more