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Puerto Rico Declares Bankruptcy

May 17, 2017 • Americas, World Development

By Stephen Lendman

Puerto Rico faces a long, painful struggle ahead. Stephen Lendman elaborates on how it has come to this and what could the future hold for its citizens.

 

Colonised and exploited by America since 1898, its people, governor and other officials are powerless – ruled by US administrations and Congress.

Islanders have no control over their lives, welfare and destiny, no say over foreign relations, commerce, trade, air space, land and offshore waters, immigration and emigration, nationality and citizenship, currency, maritime laws, military service, US bases on its territory, constitutionality of its laws, jurisdictions and legal procedures, treaties, radio and television, communications, agriculture, natural resources and more.

For nearly 120 years, it’s been victimised by US imperial rapaciousness. Things finally came to head financially. Puerto Rico is bankrupt, though can’t declare it under US law.

Islanders are US citizens without enfranchisement on the mainland. They pay federal taxes, getting back pathetically little in return.

It’s a wasteland of high unemployment, poverty and deprivation. Force-fed austerity exacerbates dire economic conditions. Islanders are US citizens without enfranchisement on the mainland. They pay federal taxes, getting back pathetically little in return. They suffer from mismanagement, political greed, widespread corruption, deplorable social services, and monied interests exploiting them, enforced by police state harshness.

 
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About the Author

Stephen Lendman received a BA from Harvard University in 1956. Two years of US Army service followed, then an MBA from the Wharton School at the University of Pennsylvania in 1960. After working seven years as a Marketing Research Analyst, he joined the Lendman Group family business in 1967. He remained there until retiring at year end 1999. Writing on major world and national issues began in summer 2005. His new book as Editor and Contributor is titled Flashpoint in Ukraine: How the US Drive for Hegemony Risks WW III.” 

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