“Puerto Rican Exodus Is Speeding the Island’s Economic Collapse”

“The population drop is astonishing. The island has lost 2 percent of its people in each of the past three years. A comparable departure from the 50 states would mean 18 million people moving out since 2013. About 400,000 fewer Puerto Ricans live on an island of 3.4 million today compared with a decade ago, when its economy began contracting.  [Blogger comment: These people can’t do basic math.]

The departures have trapped Puerto Rico in a downward spiral. A grinding recession, with joblessness at 11.5 percent, and $74 billion mountain of debt that pushed the island to insolvency has made collecting taxes key to an economic rebound. At the same time, more Puerto Ricans from all walks of life are moving away to better their lives, meaning government revenue is dwindling.”

https://www.bloomberg.com/news/articles/2017-06-02/-i-had-to-choose-for-my-family-thousands-fleeing-puerto-rico

Two percent of 350 million is 7 million. If it’s 2 percent every year that’s 21 million. Is this an example of fake news?  One thing is for sure. The writer of this article probably has a fake diploma.

Advertisements
This entry was posted in Economics, News and tagged , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s