The fact that you have nothing to say about Puerto Rico's debt problem and try to hide your ignorance behind a Krugman blog that is as superficial in its analysis as it is useless, is a perfect illustration of your ZERO grasp of economics.
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Originally Posted by lustylad
Bestow on us your knowledge oh ye of the crusty white jizz caked around thy mouth and lips. The point was that PR and Greece's economic problems are not the same nor are they at the same stage in the process, as indicated by the very title of this retarded thread.
Firstly, PR made payments on wednesday that held off default, something Greece is unable to do. Part of PR's problems are also due to the ending of federal tax breaks that brought jobs and industry to the island. They are going to end up giving companies access to bankruptcy proceedings, allowing PR businesses to restructure their debt and there will be losses that come with it, but that's part of doing business, but they will focus on future growth.
Greece is further along in the process. Their creditors demanded AND got reforms in the way of austerity, etc., but they completely ignored the effect those programs would have on an economy that was struggling to survive and paid no attention to the prospects of future growth. Puerto Rico isn't there yet and we could learn a thing or two about what NOT to do, if we look at Greece as an example.