Puerto Rico's governor says 'government is bankrupt', page 1
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Topic started on 4-3-2009 @ 05:08 PM by czacza1

Puerto Rico's governor says 'government is bankrupt'


edition.cnn.com
"It's up to us to confront the bitter reality that the government is bankrupt," he said in a televised address.

The number of laid-off workers will depend on how many accept voluntary buyouts and how many agree to cut their hours, he said.

"But I am frank," he said. "The quantity could be significant and I fear they could exceed 30,000 workers."

Though he did not lay out a timetable, Fortuno prefaced his prediction by calling for "immediate action" to emerge from a crisis that has left the government unable to pay its bills.
(visit the link for the full news article)


reply posted on 4-3-2009 @ 05:31 PM by David9176
reply to post by sos37




We have a state called California that is about to lay off 20,000 state employees for the very same reason. They are out of money, withholding state tax refunds that belong to the taxpayers to try and keep up and it's government cannot make any headway because of the in-fighting. Another state, Kansas, may be soon to follow.


Our whole country is already bankrupt...we just haven't filed yet.

It's coming.


reply posted on 4-3-2009 @ 05:36 PM by Ahabstar
Ohio, which is rarely mentioned, is starting to catch up with the unemployment game. Ohio claims 9.7% for the whole state but this map breaks it down to county levels. One thing to note is that the majority of the green and purple counties are known more for their agriculture than industry.


reply posted on 4-3-2009 @ 05:40 PM by czacza1
reply to post by David9176


trust me it is not only US. if the US is in a big s***, the rest of the world is also there. maybe except the countries like North Korea where they won't feel the difference.

I read today in some main stream source that they belive that in next 40 years the total number of people (including kids and rentiers) out of work will reach 98%. looks that we are going to have a lot of time for drinking.

but at least we will get closer to nature again.

"always look on the bright side of life...".


reply posted on 4-3-2009 @ 06:01 PM by tide88
Originally posted by czacza1
reply to post by David9176


trust me it is not only US. if the US is in a big s***, the rest of the world is also there. maybe except the countries like North Korea where they won't feel the difference.

I read today in some main stream source that they belive that in next 40 years the total number of people (including kids and rentiers) out of work will reach 98%. looks that we are going to have a lot of time for drinking.

but at least we will get closer to nature again.

"always look on the bright side of life...".



FIrst off you didnt read that in a main stream source. 98% unemployment is impossible. That is just a rediculous statement. We may see unemployment around 10-12% tops, by governement standards that is. Obviously there are a lot of part time workers or self employed people that are not as busy as they have been in the past. I am a self employed painter in SW Florida, the second hardest area hit by job loss and it isnt that bad. Sure I am slow, but I have enough business to get by. In fact I just pulled in a $30,000 job. So people are def. still spending. I just have cut back my spending habits to get through the next year or so. We will be out of this mess by the end of 2010 or sooner. Only way for 98% unemployment is Nuclear Holovust, Comet hits the earth, end of the world scenarios. There is no economic downturn that could cause that rate of unemployment.

[edit on 4-3-2009 by tide88]

[edit on 4-3-2009 by tide88]


reply posted on 5-3-2009 @ 04:02 AM by czacza1
reply to post by tide88


I said that 98% of all people will have work. what does not mean that the unemployment rate will be so. today out of permanent work is mostly over 50 % (depends of the country). but never less than 35% I guess.

the 98% they were talking about was in polish MSM and they were talking about unemployment in UE. in UE the avarage unemployment rate is pretty high already - around 10% (in Poland around 8%).

but it is not only the crisis behind it but mostly that the "west" world is getting old so the number of people in productive age in dramatically decreasing.

and of course we have more and more work which is performed by the automats. and this is going to develop in future.
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