Puerto Rico: The Quandary

The screaming coming from Puerto Rico is deafening…..
SAN JUAN, P. R. – Gov. Ricardo A. Rossell of Puerto Rico said on Monday that the island was on the brink of a ‘humanitarian crisis’ nearly a week after Hurricane Maria knocked out its power and most of its water, and left residents waiting in excruciating lines for fuel. He called on Congress to prevent a deepening disaster.
How does Congress “prevent a deepening disaster”?
It cannot. You cannot change the laws of physics nor magically make things that are broken become not-broken. There is no issue with funding in the current paradigm; the problems are logistical.
Those issues arose because of decades of intentional mismanagement, grift and fraud including by the Governor himself and the rest of the Puerto Rican government, which has taken on debt over and over while squandering it on social programs instead of taking care of critical infrastructure needs — like basicmaintenance to the electrical grid.

This post was published at Market-Ticker on 2017-09-27.