Puerto Rico: a Case Study in How Central Planning Benefits the Ultra-Rich

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Fascinating expose’ in the New York Times yesterday. “Inside the Billion-Dollar Battle for Puerto Rico’s Future”
The report details how the outrageous overregulation and overspending by Puerto Rico’s “leaders” led to territorial debts which are unpayable.

In turn, Puerto Rico’s “leaders” sought bailouts from the world’s richest investors, promising a 20 percent annual return for billionaires who “invested” in Puerto Rico’s central planning.

And now that it appears Puerto Rico is poised to declare bankruptcy and repudiate its debt, the billionaires are pushing for yet another bailout from U.S. taxpayers.

“Liberal,” “progressive” policies always lead to slavery.

Socialism is a curse that should be wished only on one’s enemies. Any society that adopts it will inevitably become sick and weak.

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