EMerging Equity
Puerto Rico
You Can Add Iraq And Ukraine To The List Of Economies That Are Collapsing
The list of nations around the globe that have collapsing economies just continues to grow. By Michael Snyder In recent weeks I have written about the ongoing saga in Greece, the stock market crash in China, the debt crisis in Puerto Rico and the economic meltdown in South America. But there are more economic flashpoints … Continue reading
Crashing: Apple, Twitter, Oil, Commodities, Greek Stocks, Chinese Stocks
The month of August sure has started off with a bang. Tech stocks are crashing, oil is crashing, industrial commodities are crashing, Greek stocks crashed the moment that the Greek stock market reopened for trading, and Chinese stocks continue to crash. By Michael Snyder At this point we have not seen a broad crash of … Continue reading
Puerto Rico Defaults On Debt For The First Time In Its History
Puerto Rico has defaulted on its debt obligation for the first time in its history. On Monday, Puerto Rico paid a mere $628,000 toward a $58 million debt bill that was due to creditors of its Public Finance Corporation (PFC) in a risky move that will intensify pressure on creditors for a broader debt renegotiation, and will likely make future … Continue reading
Forget Greece; Puerto Rico Is The Debtor Americans Need To Watch
Originally posted on Kyle Wingfield:
People celebrate the outcome of the bailout deal referendum at Syntagma Square in Athens, Greece, July 5. (Eirini Vourloumis / The New York Times) Greece is in the headlines today, after voters there rejected the “austerity” measures other European nations had demanded in exchange for yet another bailout of the…
Dow Plunges 350 Points As Possible Greek Default Looms
Originally posted on TIME:
The uncertainty surrounding Greece’s ongoing debt crisis choked global markets on Monday, extending recent losses for the world’s stock exchanges. The Dow Jones Industrial Average closed the day down 350 points, or 2%. The S&P 500 dropped 2.1%, ending the day at 2,058 points. Meanwhile, the tech-heavy Nasdaq composite was hit…
Greece Is Not Alone: Puerto Rico Bonds Tumble As Governor Calls For Debt Relief
“Prices on Puerto Rico’s newest general obligations sank to record lows after Governor Alejandro Garcia Padilla said investors should be prepared to sacrifice if they want the cash-strapped island’s economy to grow,” Bloomberg reports. “With two days left in Puerto Rico’s fiscal year, the commonwealth is struggling to pass a budget that would allow it … Continue reading
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