Christmas Bonuses – Closing Time For Puerto Rico by Eric Peters, InsideSources
When someone has trouble handling money, you generally don’t just give them more money. That would be like giving an alcoholic another drink and hoping he’ll sip water instead.
So it is with Puerto Rico. Like Greece, like Detroit, it is teetering on the edge of bankruptcy ($72 billion in debt) due to appalling excesses such as handing out $120 million in Christmas bonuses to government employees this Christmas (while most taxpayers, who foot the bill for such things, were working overtime to find the money to pay for their children’s presents).
Since its founding by Will Thomson and Chip Russell in June 2016, the Massif Capital Real Asset Strategy has outperformed all of its real asset benchmarks. Since its inception, the long/short equity fund has returned 9% per annum net, compared to 6% for the Bloomberg Commodity Index, 3% for the 3 MSCI USA Infrastructure index Read More
Christmas is not the only time that government workers in Puerto Rico cashed in at taxpayer expense. They also get twice the paid vacation that their counterparts on the mainland receive. While you work, they play – and get paid.
By you.
Now the gravy train is in peril of drying up and Gov. Alejandro Padilla wants you to pay again – by declaring bankruptcy and defaulting on Puer