Analyst Peter Schiff on Puerto Rico’s debt crisis

Global Business

Analyst Peter Schiff on Puerto Rico's debt crisis2

Puerto Rico’s governor is preparing to call in the lawyers. The Caribbean island is sitting on a $72 billion debt and defaulted on some of it again this Monday.

The country did meet tens of millions in interest payments, and some of its bonds rallied a bit, which means some investors are still willing to take it on.

But the U.S. Commonwealth is still running on fumes. Its governor says there’s not enough money to keep public services going.

CCTV America’s Owen Fairclough interviewed Peter Schiff, president and CEO of Euro Pacific Capital, about the latest in Puerto Rico.

Analyst Peter Schiff on Puerto Rico's debt crisis

Analyst Peter Schiff on Puerto Rico's debt crisis

Puerto Rico’s governor is preparing to call in the lawyers. The Caribbean island is sitting on a $72 billion debt and defaulted on some of it again this Monday. The country did meet tens of millions in interest payments, and some of its bonds rallied a bit, which means some investors are still willing to take it on. But the U.S. Commonwealth is still running on fumes. Its governor says there’s not enough money to keep public services going. CCTV America’s Owen Fairclough interviewed Peter Schiff, president and CEO of Euro Pacific Capital, about the latest in Puerto Rico.

  • disqus_GE5jilM4F3

    Don’t bail out the hedge funds because they chose to invest in in Puerto Rico and this is their result and we the tax payer don’t want to have our money taken to be given to well connected and well off cronies of the powers that be.
    The peoples representatives should repeal the Jones Act so that goods will be less expensive to import/export from Puerto Rico. Free the people of Puerto Rico to work be repealing central planner labor regulations that make employement expensive and burdensome. Promote private investment by making private loan interest earned income tax free (rather than gov debt interest tax free).
    I Stand with Rand!

  • Barry Nicholson

    But yet ALL BONUSES WERE PAID OUT TO THE LAZY CRIMINALS THAT CAUSED THIS DEBT….OVER $180 MILLION. LET THEM ALL FAIL AS WHAT SHOULD HAVE HAPPENED TO THE BANKS,GM AND THE REST.. THEN LET THE PEOPLE GO GET IT FROM THESE THIEVES.

  • April Bonilla

    Everything AMERIKKKA touches ends up like this !!!! Puerto Rico should have NEVER folded to America !!!!!