Puerto Rico has taken a beating in 2017. With $74 billion in bond debt, and $49 billion in unfunded pension obligations, it was forced in May to seek what is essentially a form of bankruptcy relief. It became the first state or territory in US history to take such an extraordinary measure. Puerto Rico has been in a recession since 2006, and has been surviving by borrowing in the bond market to cover its operating … read more Newsletter #131 Maria Strikes